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“Hindsight is 20-20”

Isn’t that a true statement?

Normally we say “hindsight is 20-20” sarcastically when someone else makes a previous decision sound easy. Of course, we always look back and realize what we should have done.

Have you ever stopped to think of why that is though? It could be that new information becomes available that we didn’t anticipate. But it’s also likely we learned any number of lessons by making the decision we made. Those lessons are incredibly valuable to ensuring we don’t repeat the same mistakes over and over and it’s the collection of all these experiences that shape our future decisions.

Credit cards, debt settlements, and debt consolidations fail to provide the important lessons that come from managing your money responsibly. It’s like the difference between playing football on a field versus playing a video game. How many of you signed your child up to play a sport? Of course, you want him to learn the skill of playing that sport, but don’t you also hope he learns so much more? If your goal is simply for your son to learn the rules of football, skip the two-a-days and have him read a book or play a video game. Chances are, though, you want him to learn commitment, teamwork, sportsmanship, and how to take a hard hit then get right back up. It’s a head fake– he thinks he’s learning how to play football, but you know he’s gaining a lot more.

When you use a credit card to make a purchase because you don’t have the money to buy it otherwise, you’re missing out on crucial lessons such as delayed gratification and patience. When you use debt consolidation or settlement to reduce your debt, you’re essentially playing a video game instead of the real sport. You’re failing to learn the real lessons – how to manage your money, spend wisely, and save mindfully. And you’re skipping the hard work and sacrifice that teaches you not to repeat those same mistakes.

Is paying off debt easy? Definitely not, but it’s worth it. It’s worth the sense of accomplishment you feel when you’re done and it’s worth the knowledge, lessons, and skills you acquire through the process. Credit cards, debt consolidation and debt settlements may be easier, but they fail to teach you perseverance, responsibility, goal setting, accountability, and so much more.

It’s your turn to perform a head fake– it’s time to work hard, sacrifice, and make debt freedom a priority. Time to get out there and play the real sport and not the video game.

Photo credit: Amy Sayre of Amy Sayre Photography