A majority of the time, the burden of debt can be more psychological than financial. The stress it causes in our decisions and plans for the future is huge. Debt Tsunami is among the most effective ways to reduce debt. It is a process through which you will be able to settle your debts and reduce the emotional and psychological impact they have on you.
If you’ve had a bad experience with a company or an investment that didn’t work out, the debt you owe as a result of it could become your most crucial debt to pay off. It is a common thing because we always prefer to be free of this unpleasant financial experience psychologically.
In an article published in the website “MAN Vs Debt’ Adam Baker writes “I was addicted to gambling and I had debts that were specifically related to gambling. Paying it off changed me as an individual. The ability to pay the $600 debt on the credit card was fantastic but it didn’t transform me in any way. It wasn’t a sign the fact that I was about change and that I would live a different lifestyle.”
The process of repaying and removing the gambling debt, according to Baker, was a significant event in his life. It also gave him an emotional advantage and allowed him to pay off all of his debts. Debt Tsunami, as Baker calls them, are triggered by that single action of paying off the gambling debt . That was as good as a volcanic eruptions or even aplate shift. Furthermore, eliminating the debt that has the potential to cause you psychological harm can motivate you to do more and make better plans to pay off the rest of your debts.
The Debt Tsunami method is extremely simple to use. You can make a list of all your debts, from the smallest to the largest. The debt with the lowest amuo paff is the one you should focus on. You should go over the list before you start paying it off. If you believe you have debts you want to get rid of so you don’t feel pressured emotionally, those can be moved to the top of your priority list. As you get rid of that debt, you get an have an emotional experience similar to an underwater volcano, earthquake, or tectonic plate shift. The ecstasy you experience as a result of it could give you the power to create the Debt tsunami you need to pay off the remaining debts in your list.
Motivation and enthusiasm always assist us in achieving even the most improbable objectives. The psychological approach of the debt Tsunami method is thought to be a highly effective method for managing and eliminating debts.