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Ten lies we tell ourselves that keep us in debt

Ten lies we tell ourselves that keep us in debt
Some people want to stay poor. They self-sabotage their future by telling lies, lies and more lies to themselves and anyone who will listen.

So I decided to list some of the lies are that keep us in debt. If any of these sound familiar to you, then own up and be honest with yourself. It' the first step towards a secure financial future.

Lie 1: It's the government's fault

How often do you hear that we're poor in New Zealand and it's impossible to get ahead? The government needs to do something, doesn't it? Well no. Individuals get ahead on their own steam. Your personal debt is your fault, not the government's.

Lie 2: It's my husband/wife/ex's fault

Blaming someone around you for your problems hands the power for your wealth and happiness to that person. Regain that power and start making decisions for yourself. That could even be taking control of the family budget or simply creating a plan to get out of debt.

Lie 3: Everyone has a credit card debt

No they don't. A lot people don't have credit card or HP debt. They budget and live within their means. Credit cards were never designed to pay for day to day expenses, although the banks want you to use them that way so they can squeeze more profit out of you.

Lie 4: I need this

I feel like a scratched record on this one. No. You don't need a new TV, bed, sofa, iPad, clothes, and so on. You want them. One of the worst cases of this lie is when people say they need to upgrade their car, for work or whatever. Very rarely is this an actual need, unless the car has died and is irreparable.

Lie 5: I deserve it

If you think you deserve an expensive holiday, consumer goods, takeaways, or even expensive groceries, think again. You're deluding yourself. You're not a child in a sweetshop. Do you also deserve to pay interest on your debt incurred to pay for these things? It's true that we all deserve a happy life. Happiness comes from within us and can be had with small pleasures that don't involve spending money.

Lie 6: My situation is different
I'm different and these rules don't apply to me. Don't they? Who's fooling who here? I know I'd love the rule about not buying coffees every day not to apply to me. But I don't need these coffees for my sanity or relaxation. I'm just deluding myself.

Lie 7: It's not that much money
Over time small expenditure adds up to big money, especially if you're paying credit card interest on it. Download your bank statements and run all that spending through free budgeting software such as That's a great eye opener.

Lie 8: It was a bargain
There are always bargains. That sale of the century will come around every year.

Lie 9: I don't earn enough to save
Saving is about managing your money, not how much you earn. The vast majority of things we spend our money on aren't essentials. People can find ways to save, even if it involves doing some additional part time work.

Lie 10: It's an investment
Consumer goods and cars aren't investments unless they actually making money for you. You're lying to yourself to justify the purchase.

Finally, if you find yourself perpetuating any of these lies or half-truths, then get to your local library and take out a copy of You're Broke Because You Want To Be, by Larry Winget. Oh, and make sure you actually read it.

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User comments
All of this coming from a woman who spent 12 out of her 20 year career in the UK...If your wealth was made here maybe some would listen to this advice although I doubt your advice would be the same. Admittedly I have read SOME palatable articles you have published.. this one however is putrid and far from connecting with real NZers esp students and the working class. I bet you wear underwear with National across the rear and a picture of John Key on the crotch.
who ever wrote this needs to read the commets here is one for you i get 310 per week i work hard every day i pay 230 rent i buy 50 food this has weetbix and liver kidneys some basic vegs and fruits and rice thats 280 gone okay then i need to put 20 aside for power a week thats 300 and then i get 10$ to head to the salvy army and pick up some things i need a extra knigth a plate maybe if im lucky i can pick up a t shirt to wear so where am i supposed to save where am i supposed to have a retirement plane where am i supposed to get these nice cloths you talk about welcome to the real world most people get what i get
Of course, how silly of me. Everyone earns enough to be able to save! $160 a week leaves me with so much spare cash, my piggy bank is overflowing.
No it's not the Governments fault - we should have left NZ years ago! Excuse us for feeding our kids good basic foods mince,pasta,home grown veg Not having any holidays in 25 years, wearing home made and 2nd hand clothes, driving clapped out cars, moving to take up available jobs, staying married, being made redundant and not being eligible for any support "just in case" we got redundancy pay. Thank you for pointing out it was my stupidity alone.
I had to cut out some of my comments from this blog because it got too long. But the were good points, so I thought I'd add some as comments. The by-product of every individual becoming more productive is that we will produce more and our country become more productive and wealthier. Governments don’t make countries rich. The people do. For anyone considering emailing me or posting below (and I welcome both) blaming others including me is just perpetuating the lie. If your partner can’t handle money, start budgeting. You need to take control, not let the other person do it. Work out a way to give this person a fair and reasonable allowance each week. Set up a payline split that pays your bills, including, your savings account, at the beginning of the month and allocate spending to the partner. If your partner is a see-it-and-spend-it person, you need to take control.

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