5 Reasons You Won’t Get Out of Debt

Alright, “5 Reasons You Won’t Get Out of Debt” is a sort of negative and off-putting title, especially since I’m usually a very positive person.   

Although the main reason for the tone of the title is to highlight some of the typical “reasons” I hear from people who are unhappy about their debt situation but never seem to do anything about it.

Consumer debt in Canada in 2021 has skyrocketed to 2.1 Trillion dollars and no signs of slowing down.

Reasons why people don't want to get out of debt.
Why you won’t get out of debt

Just about everyone with a functioning brain knows that being debt-free is always better than being in debt when it comes to money.

However, when I ask them why they have not made a sincere effort to erase that debt from their lives, I start hearing the pretty common list of “reasons” (excuses) why they haven’t done it.

So if you DON’T want to get out of debt and you don’t want to change your financial life, here are some excuses you should probably be using:

Debt Reduction Didn’t Work for Me

So once upon a time you finally convinced yourself that paying off debt was a good idea and you even decided to try it. 

Well, if you really didn’t want to be debt-free, then you probably did not fully commit to the process. 

You’ve never made a concrete plan or educated yourself about how to budget

You would have only halfway tried it, then over a few months, you just fell back into your old habits.


You have to completely commit to the process if you want to get yourself out of debt. 

So if you don’t want freedom from debt, then commit to using this excuse, and whatever you do, don’t commit to the process of paying off your debts.

I’ve Never Gotten Around to Starting Debt Reduction

This excuse is for the person that has never seriously thought about getting out of debt

Sure, you know it’s a good idea but hey, you have other things to think about, like how to make money to pay your car payments, the credit card bills, and that latest find for your vintage Pez dispenser collection.


If you don’t want to get yourself free from the shackles of debt, do everything you can to find ways to spend your time keeping yourself from thinking about and addressing your debt situation.

The more you distract yourself with other things, the less you have to think about your debt.

I Don’t Really Know How to Get Out of Debt

This excuse is an example of a lack of education as I mentioned above.

Sure, you want out of debt, you know you need out of debt, but how do you do it.

You keep wondering how for months and years but you never try to read a book, attend a course, or read blogs and other resources on the internet. 

Since you never find out how to do it, you never take action and you live the rest of your life stressed abotu debt.


If you want to keep yourself in debt forever, you certainly shouldn’t educate yourself on how to get out of debt

Don’t even think about reading Dave Ramsey, or Gail Vaz Oxlade books or going to that personal finance course.

Absolutely, positively stay off those personal finance blogs such as Canadian Budget Binder.

Isn’t Debt Just a Normal Part of Life?

You’ve decided that being in debt is just a normal part of life

You tell yourself things like, “Life is expensive right

  • There’s no point putting effort into reducing debt.
  • I’ll never have enough money to pay cash for everything.
  • I have to have credit to buy everything I need.

I’ll use my credit so I can keep up my credit score (at least that’s what the credit card companies say I should be doing).”


Go ahead, give in to the debt slave mindset.

The credit card companies would certainly never give you more credit than you can handle.

Besides, who better to rely on than a credit card company or a bank to give you unbiased financial advice?

I Just Don’t Like Change

Just like most people, you’ve amassed a pile of debt over the years. 

You don’t really want to be in debt but you’re afraid you might have to actually do something different to eliminate it. 

You’ll have to make some sacrifices or change some habits. 

Getting out of your comfort zone is uncomfortable but doable.

You want to stay in your comfort zone so you’ve decided to nestle down deep into the comfortable feather bed of debt slavery. Then you begin

peeping out from under the comforter at the outside world and wondering what life would be like out there in the world of debt freedom, but you never leave the bed, because change is hard.

Hooray for you!

There is Hope To Get Out Of Debt

Yeah, I know some of this sounds a little ridiculous and over the top, but the lies that we tell ourselves when it comes to money will always serve to work against us.

However, what happens when you start telling yourself the truth and then take action to make that financial truth a reality in your own life? 

What happens when you stop the excuses?  

I’m here to tell you that you can. 

There is hope, and it’s available to you.

Stop the excuses…

Post By: Dr. Jason Cabler

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