Getting out of the HOLE! Mentally.

September 2, 2018 | Filed under: Success

One of my mentors, Charles Givens taught me this strategy, and it works. So try it.

Some event happens in your life. A death, a financial debt, job loss, or a loss of loved one, or illness. We immediately come up with how this is going to negatively affect your life. We lament. We get angry. We get upset. We get depressed. Or even worse.

For example, at one point in my life, I had 78k in debt (all credit card debt). And I could not make the payments. I was thinking:

  • I am screwed. I can’t pay the bills.
  • I am a failure.
  • How did I get myself in this shape.
  • I will never take a risk again.
  • Owning your own business sucks.
  • I am not as smart as I thought I was.
  • People will think badly of me.
  • I have failed my wife and kids.
  • I will be on the street soon.

All negative thoughts. I was pretty depressed and not very motivated. In fact, I actually had a few thoughts, about my life insurance policy. My family would be better off if I was dead. WOW. That is stupid.

Thank GOD, as those thoughts were rolling around in my head, the seed of an idea, I had read many years earlier, popped up. For every adversity in life, there is the seed of greater opportunity. That got me thinking. What is good about this situation. Chuck (Charles Givens) has this a strategy. For every negative you have to come up with 2 positives. Positive thought replacement of a negative thought.

So. What is GREAT about being 78k in Debt?

  • I know how to build credit. That can be useful in the future.
  • Successful people tend to take risks. To win the game you have to take some risk.
  • I had some good days in the business, what did i do on those days to make money.
  • It will be a good story some day.
  • At least I am not a 100k in debt. And I met a guy a million in debt which made my perspective shift a little. At least I was not 1 million in debt.
  • You know, what debt can be a good thing if it is GOOD debt. Borrowing to make money.
  • Maybe i should not be thinking I can’t make the payment, but how could I make the payment.
  • I have time to spend with my wife and kids.
  • I have time to change to improve my life.

Hey, those positive thoughts saved my life. Put me back on track. In fact, i started to look, how can i make a lot of money in short period of time. Actually moved me into the Real Estate game.

2 Responses to Getting out of the HOLE! Mentally.

  1. Sandy Nelson September 4, 2018 at 3:33 pm

    Hi Jim
    Hope all is great!
    I just tried getting onto your credit spread website and it appears to be closed.. Is this the end of your advice and suggestions? I have appreciated so much the info shared there, is it a great way to confirm I’m on the right track for my trades. Please let me know if it’s been moved or if there’s anyway to continue getting that info.
    Thanks Sandy

    • jfrancis23 September 6, 2018 at 3:38 pm

      Hi Sandy. Had a few issues with Go Daddy. Still have that site. They are in the process of “recovering” it. So, I decided to build a Facebook, private group too. I will invite you. That site should be up and running shortly. They said 72 hours.

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