It has been my experience that people focus too much on their debt, sometimes to the point of an unhealthy obsession. And, just as often, their most pressing financial concern is not their debt but, rather, the fact that they have no savings.

In my work with clients I help them to get out of debt but the focus of my work with them is to build their savings. In other words, I put the emphasis on a positive rather than a negative.

In fact, at first, my clients often pay the minimum due on their debts, credit cards, in particular. Then I urge them to forget their debts altogether and focus on building their savings. Homeless people are usually debt-free; how much good does that do them?

And, really, debt is only a symptom of the real problem. The real problem is that debt means you have been spending more than you earn. The real problem is over-spending and that is the second focus of my work with clients that come to me with debt issues.

A psychologists helps people deal with their past, a coach helps people develop their fundamental skills in a given area. Learning to budget is one of the fundametnal skills of personal financial management and it is a skill that many of us lack entirely or can use help to refine.

A focus on debt is just one example of someone who needs to work on their fundamentals. I applaud any one who is taking any steps to improve their lot. But if you are focusing on your debt, I would recommend that you consider changing your perspective.

We in this country are fairly awash in a sea of money; every year more and more new millionaires are minted. A focus on one’s debt only serves to diminish one’s capacity for prosperity thinking.

R/TDW

As it is, we won’t be debt free when the kids come (I’m guessing) but the idea helped me to see that that was ok too. It was a good meme!