The Financial Fatty

Hi Scott,

I’m a successful professional who achieves big goals: I have multiple degrees and a great job -- and I recently lost 12kg. Yet I have a $280k mortgage, a $36k credit card debt, and no savings. I have made small dents into my debt, only to blow it again. I am now focusing on my finances and using what I have learned from my other achievements. I have read your articles and tried (unsuccessfully) to follow the advice. Can you help me get myself out of this hole?

Andy

Hi Andy,

How did you lose your lard?

Was it when you sat down and read Michelle Bridges’ book?

Was it when you restricted yourself to only eating grapefruit for 12 weeks?

If you’ve been able to keep off the kilos, it’s because you changed both your behaviour and your beliefs.

It’s exactly the same process when it comes to winning with money.No book or super strict diet is going to work long term.

Seriously, the only enjoyable way I know to win with money is to convince yourself of the truth:

There’s nothing broken about you that requires you to have a ‘debt card’. They’re a marketing con-job, designed to trap you into paying high rate interest for your entire life. They are not convenient, and they are not for emergencies. They are robbing you of your self-respect and your freedom.

Having savings, on the other hand, gives you choices. It rebuilds your self-respect, because no matter what happens to you financially (within reason) you’re in control.

Now, here’s the cool thing I’ve found from years of helping thousands of people: the moment you understand this in your gut, you’re already free.

A massive burden of indecision is lifted off your shoulders. You know you’ve done the right thing. Better yet, you don’t even have to wait until you’ve paid off the last card. Just cut them up, and fist pump the air. You’re mentally free, now it’s just a matter of time.

Here’s the rub. Getting to that point can take an hour, or a lifetime.

Over to you.

Scott