5 Reasons You Won’t Get Out of Debt

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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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  1. #6. I Don’t Have a Debt Problem (although I can’t seem to make ends meet)

    Alright, it’s a cliché: you need to admit that there’s a problem before you can solve it. Or is it a truism? In any case, the logic behind the saying seems obvious, although those who are mired in debt might not always possess the clinical detachment needed to realize that there is a problem because confirming it makes it real or because they’re in denial (or something) despite the fact that they already find it difficult to pay for the bare necessities.

    If you’re in this situation, it’s time to face facts, get real, and act. If you can’t talk to a trusted friend or family member because you’re embarrassed about current circumstances, talk to a trustee or similar financial professional for advice and an effective action plan that will help you clear up a lot of your debt and eliminate the likelihood of recurrent unmanageable debt popping up in the future.

    Food for thought:

    1. Exactly, don’t waste time in regret or in paralysis, wondering what to do. Take action, at least a little one, and talk to someone who knows what they are doing. Maybe a professional, maybe someone yo know who has gotten themselves out of debt, but talk to someone.

  2. I really should just put this link on a business card and start handing them out to people who complain about their debt problems and do nothing about it.

  3. I’ve definitely heard people say that having debt is normal, which I think is so strange. They think it’s normal because they know a bunch of other people in debt, but that doesn’t make it normal, or a reason to stay in debt.

    1. It is normal as many families do have debt and it’s not a secret that we are suffering from spending more than we earn. I believe that is a poor way of justifying that debt is a good thing when clearly it’s not. We need to start worrying more about what’s in our own bank rather than what other’s have or don’t have. When all is said and done the only person who will care about you is..YOU! Cheers and thanks for commenting. Mr.CBB

    2. I think debt is “normal” because most people have it. I don’t think it’s advisable though. Life is so much better without it. I strive to be abnormal every day in every thing that I do because to me, normal is average.

  4. Great article, like anything in life, it really all comes down to making it happen, execution. If you really want to change, you will find a way. Thanks!

  5. Some great points! I had tried budgeting before using another system and gave up quickly. I hate change but still managed to start budgeting with Mr CBB’s help 🙂 I did think debt was just a normal part of life until I met the group of people I chat on here with at Canadian Budget Binder. Now I know that people can and do live debt free!

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