Why successfully reducing your debt & losing weight is surprisingly similar
Education Loan Personal Loan SME Loan Tips & Advice Home Loan Two Wheeler Loan
June 26, 2019
There is an old saying, “that you can’t be too rich or too thin”. The body weight and your net worth are intertwined, and this works on different levels. Like, if you eat too much, and spend too much, you are probably staring at two frustratingly large numbers; one may be on your credit card statement and another, your pant size. Well, you can tackle both together, i.e. reducing your debt and your waistline at the same time. Just imagine a situation, where your doctor sends you a message every month about your health, the same way a credit card company does. When you have accumulated a significant amount of debt, as a result of overspending, it can make you feel guilty, just like being overweight. The article enlists a few points about how losing weight and reducing debt is similar and have a strong connection between them.
Sticking to Your Budget: Possibly, you can create a budget for your monthly spends on the basis of your income so that you can reach your financial goals. Similarly, why don’t one look at his or her calories intake in the same way? Now, this makes losing weight and paying off debt similar, because debt is a clear symptom of overspending, and whereas being over-weight clearly signifies symptom of overeating. Well, there is a myriad of reasons why people overspend and overeat. And, when we do this on a regular basis, it turns into our bad habits.
Overcoming Weight-loss Plateau takes time: During the process of losing weight, at some point, you might feel that your successful diet and work-out are not working out anymore. Chances are you have hit a weight loss plateau. That’s because, after losing excess fat and gaining strength progress naturally slows down. And, to reach beyond that point, you must work hard. Just, remember that it’s a marathon, not a sprint! Similarly, being under huge debt, your very first instinct would be to get rid of it as soon as possible, but the truth is nothing changes too fast. You have to work on both sides of the equation, I.e. with cutting overspending habit, you have to think about increasing your income as well to truly get ahead and reduce your debt. To shed those extra kilos, you have to change yourself, your lifestyle, your daily eating habits, etc. So, whether to lose your overweight belly and your debt, you have to do the same thing, which is why losing weight and paying off debt seems similar.
Feels like giving up early: Paying off your debt can seem tiring and tedious just like losing extra belly fat. The slow progress of losing weight and debt pay-off can make one frustrated. But, what is more, important is going with the flow, and you would be able to find your way back to the right path.
Financially, you will win big: People spend too much on protein powders and organic food to lose weight, which can dismantle your monthly budget. This habit might seem normal for some, but to break this habit, it is very hard. To lose weight, what you can do is make a personalized diet chart which includes protein, carbs, veggies and fruits in your daily diet. Like this, you can save a lot of money. With these monthly savings, you can settle down your debts slowly.
Well, we can’t help you in shedding those extra kilos, but can help you in clearing those pile of debts through one of the financial instruments, i.e. personal loan. So, if you are looking for guidance on how to clear those huge debts, connect with one of our loan experts and we will help you out. Take care, stay healthy and stay out of debt!