Debt Will Determine Your Destiny

 In Money, Redefining Wealth PODCAST
“Debt will force you to make choices rooted in fear as opposed to faith.” Click To Tweet

As many of you know, I have been traveling around the country speaking. My favorite part is using the opportunity to meet and speak to every single person who attends a session with me.

I love hearing what you take away, and what is really important to you.

That’s why I decided to make this episode, continuing last week’s discussion on accountability. Chances are you need to take more accountability about the debt in your life.

Many people have myths about debt that are hindering them from reaching their greatest goals. In the end, these myths are preventing them walking into their destiny.

I want you to understand the role of debt in your life. Really understand how it’s holding you back from fulfilling your true purpose.

When your decisions about where you work, who you work for, where you live, what you eat, and everything else is decided by how much money you have to put towards your debt each month – you’re not really free.

In fact, it’s the exact opposite. Your debt is limiting your ability to choose.

You won’t be able to live the life you want as long as you have debt.

And let me make it clear, all debt is bad. Even debt you are leveraging to own things like a house is still bad because thinking that they’re good will never motivate you to get out of debt.

Download this episode today to hear why you need to handle your debt, and what you can do about it to be able to live your life in choice.
3 Myths About Debt:
Debt is not stopping me from anything.
I have good debt.
Everyone has debt.

“Your Attitude about anything will determine your success with it.” Click To Tweet

The Cliff Notes:

When you become your best self, money is a byproduct.
There are many myths about debt.
Don’t let debt stop you from living the life you truly desire.
When you are burdened by debt it takes away your freedom to choose.
Anything you accept as ok, you are going to allow to persist.
A lot of people fill their void by getting more stuff, adding to their debt.
If every decision you make is about paying off debt, you’re chasing money.
There is no such thing as good debt.
It should always be your goal to be debt free so you can have more choices.
Credit scores only matter if you plan on having debt.
Just because everyone has debt, doesn’t mean you need to as well.

“Rationalizing is how we ration out lies.” Click To Tweet


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Showing 6 comments
  • Linda Mensah

    For many, many years I was controlled by debt and so were my decisions. All those years I justified debt because I never applied for credit cards – they were sent to me due to my credit scores. Each time I got into debt I found a way to pay them off. Well, the economy changed and I did not have those opportunities/resources anymore. I am debt free now. However it was hard getting out debt, going through a devoice and selling a house – which all funds that were suppose to come to went toward paying debt.

  • Kimberly Bellamy

    This is a totally new mindset you’ve introduced to me. I would like for us to continue a discussion about this in future podcast episodes. It must have been divine timing or something but you just saved me from making a decision that would have been solely focued on eliminating debt. In the podcast you said a key phrase…. You leverage debt for real investment estate properties but you know they way out… I don’t know the way out of my situation and to be honest, I need money for the essentials like food right now. Building a business is for the future but it’s not getting me the money I need right now…then what? I have to eat to live but I also want to get married and do all the other things I’ve planned for my future..DEBT FREE!! I don’t know how to navigate this and take care of my immediate needs and prepare a way for my future self. This is where I need the help, desperately! Could you also tell us the best way to get in the real estate market without having to leverage debt? I don’t know of a way to earn more money in my current circumstance.

  • Sadia Sanders

    Although I’m clear that debt is debt. Not good or bad. I think that the fear of acquiring more debt keeps me chasing money.
    The things I would like to do (buy a new car and new home in a better neighborhood) require more money than I currently have or make. I have been looking for a new job it seems like forever now. And I started a new business venture. I’ve always tried to live within my means. But it feels stifling.
    My only debt is a mortgage that I still owe quite a bit on. Some advisers say keep the property, rent it out and rent a place for myself until I can buy again. Some say do a rent to own of my home to avoid me having to pay repairs while the person is there. Not sure what best option is.
    I tried to sell twice and it seems like God is saying be still! Meeting with a financial planner this week.

  • Christina Pruitt

    I feel like everyone is saying the same things in this season. Or maybe I’ve just grown to a point where I am actively listening. I’ve been listening to Dave Ramsey for a few months now. For the first time in my life I have a budget and control where every dollar goes. I have money in savings (for the first time EVER) and am working a temporary part-time gig in order to ensure the I am debt free (student loans) before December 2018. This podcast was a great reminder of why I am working as hard as I am. Debt is debilitating. I will never borrow money again. I refuse to be a slave to the system. “The borrower is slave to the lender”

  • Tiffany Tatum

    Patrice! Patrice! Patrice! Stay out my business k and then telling my whole life story in your podcast! j/k lol
    You are such a blessing to your audience. I am a faithful listener but rarely get an opportunity to comment. I am still working on my Space pillar. I am a living witness that debt indeed determines your destiny. I have crossed over to the point of having a testimony because for some reason I can’t stop the cycle. No matter how hard I plan and budget it’s like it’s never enough. I am not a money chaser because I recognize my limitations of time. I’m also not a purpose chaser which puts me in a perpetual state of getting by. I am queen rationalizer though. I know sometimes the stories I tell myself about why I spend the way I do is only me rationing out my lies to myself. One day One Day, I can only hope that this too shall pass

  • Descygna Webb

    Patrice, I found your podcast a couple months ago and I started listening from the beginning. I just today listened to this episode and girl I was talking back to you in my van on the way to work. When you said if you’re unfulfilled in your personal relationships and/or your job, you fill that void with things – which takes you into more debt rather than out of it!!!! Honey you dropped the mic. And I know you know you dropped the mic because right after that you said some of us could stop listening and go change our lives. There was so so so so much truth in that. I just had to comment and let you know your podcast is a game changer and makes my commute (Atlanta) bearable each day. Thank you so much and keep doing what you’re doing.

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