Reading Time: 3 minutes

Why Are You Still In Debt?

There are a lot of reasons to be in debt including the “obvious” one – you already have the debt. Once you have debt it is hard to get rid of.

This is true but why do so many people live in debt for years and years on end and never get debt free?

In this series of articles, we look at different reasons why people find they simply live in debt instead of being proactive and breaking the cycle.

Reason #1

To Get Out Of Debt Takes Effort & Sacrifices

For most people settling into a life of living and staying in debt is now routine. It is just their reality each month. You get money in, that money goes to your existing debt and you then spend money to get through the month on credit (debt). Normal.

To break that cycle takes a lot of planning and effort. It also often requires giving up some things that you are used to.

Eating out, supporting others who are not carrying their own weight, expensive subscriptions to services or entertainment, downgrading contracts for mobile phones or similar items.

‘Having to give up the “little” nice things … presents us with a future that looks sad and less fun’

Having to give up the “little” nice things as we often see them presents us with a future that looks sad and less fun. So, what do we do? We just put that on the credit card, we roll it into our revolving credit facility again this month. We refuse to find other ways to find fun and enjoyment and have nice things. We stick with what we already have and continue to pay on credit to have those things.

If you want to get out of debt you are going to have to make some changes. You are going to put in the work. You are going to have to make some sacrifices.


It is amazing however that once you decide to make the change how quickly you can find alternatives to what you have been doing.

Have you been spending money on eating out? How about “fun food” evenings at home? Changing up the menu at home can substitute for expensive take out. Remember the first few weeks of lockdown? you got by then and you can do it again. You may even find you are something of a fast-food home chef genius.

Have you been carrying other peoples obligations? By simply telling them that they are the ones who now need to make a new plan you force them to get proactive. They will probably surprise both you and themselves by making the needed changes themselves to make ends meet.

‘Do some research and find ways to cut back’

Have you been paying too much for your phone, entertainment, paying for the “pro” version of software etc? The internet in particular is full of cheaper alternatives to almost every product and service. Do some research and find ways to cut back.

Instead of watching people do fun things why not do them yourself? Instead of watching a movie, why not read a book…or even write a book? Watching a band perform might be fun but why not learn to play a musical instrument of your own (or use software to make your own music). The options are actually endless once you start looking for alternatives.


There are many other reasons why people simply live in debt continually. Check the site tomorrow for another in-depth look at another common reason.