- Hi, Coach Frasier here, with Full Circle Coaching and Consulting. And today I wanted to talk to you about debt. Debt is a huge thing that we hear about constantly from clients, from people that reach out to us, and even just hey, friends and family. Debt is one of those things that is so powerful that it can paralyze people and control their lives. And we're seeing more and more debt in our society.
We're seeing people graduating with student loans of 250,000 dollars. We're seeing people incurring more and more loans in their business to expand and grow. Lines of credits. We're seeing mortgages getting larger and larger, debt carrying cost. We're seeing people using credit cards to pay off other credit cards. And they're maxing them out. We're also seeing all sorts of people that are stressed about paying taxes and the debts that they owe to the government. So, if we allow these kind of stresses and this anxiety around debt to control us, it will totally interfere with our ability to expand our businesses and grow our lives. So, how do we do this? First step is we want to teach you how to start wearing the pants in your relationship with debt so that you can start to control it. It's all about mindset. The second step is about creating a plan. If you can create a plan that allows you to breakdown that debt and just beat the drum so that you can actually pay it off in a specified amount of time, you can control your debt. And you can eliminate your anxiety and fear.
And that's the point. Debt, just like fear, is invisible but it's real, okay. And it also, even though it's powerless, it can dominate people. I've seen it over and over. So, let's create a plan so that you can get your life back, control it and prosper. So, step one. The first piece again, mindset. Whatever we put our energy towards is where our energy goes. So, if our mindset is all about debt, guess what we get? We attract more debt. So, what we think about, we bring about. And we all know it.
We know people that are worried about debt and that's all they talk about. And guess what? They're paralyzed there. They're in that space and they keep on attracting more and more debt and bills. So, let's break that cycle. The first step to doing that is to take a piece of paper out and start to write down all of the benefits of the debt that you have.
So, be grateful. Start to write down all the benefits that the banks and all of the loan companies and the line of credits, and all these different lenders, even your clients. When they're lending you money, what are the benefits? What are you doing with that money? So, once you start writing down enough benefits for money then you're gonna start to shift your mindset around it. It's not gonna be a negative anymore, it's gonna be a positive. So, let's think about this. You know, money. The debt that you've borrowed is allowed you to get a degree from school and allow you to earn a living. It might have made you into a doctor that can help you change lives.
It might've allowed you to buy the house that you now shelter and protect your family with. It may help you get the car that gets you to and from work. It helps you shuttle your kids to different events. There are a 1000 different ways that money is a benefit, or debt is a benefit. And once you write enough of these down, you'll feel grateful for it. Step number two, change your debt from a money value, into a service value. So again, mindset around money is very powerful, it's very emotional and it can control us. So, let's simply take that money and figure out how much debt we have, how much we owe and let's break it down into cost of service.
So, the services are the things that we do in our business. If it's a chiropractor, are you adjusting? What's your cost per adjustment. Or if you're in business, what's your average transaction cost or fee? And once you accumulate your service cost, you can divide that into your debt and figure out how many services will it take to pay off your debt. When you got that number of services, now, we can start to focus on the amount of services that we can lovingly deliver or sell, or transactions that we carry on and how we can actually convert that into positive energy that will help us grow our business and deliver more services so that we can pay down that debt.
Rather than being stuck on that negative dollar value. Powerful thing. I've seen this action. I have a client that was mired in a fair bit of debt. I think there was at least three different credit cards and several line of credits. And when we started to just simply consolidate them 'cause he had five or six different payments. And we consolidated them into one big mass and we broke it down into the number of adjustments it would take for him to pay that off, then we created a plan monthly. How many services did he require monthly in order to make that happen? The result was amazing. Because first of all I saw his shoulders drop about six or eight inches. The amount of energy that came out of him was incredible because finally he saw how he controlled the debt.
The debt didn't control him, he controlled it. And he was able to focus on delivering that loving service in his practice. And suddenly, his practice exploded. So, this is very real. If you can learn how to control the energy and mindset around debt, you can take back your life and you can continue to grow your practice and expand your ability to deliver your optimal self to the planet. So, let's think about this, debt is really just a relationship with money. That's all it is, it's a reflection of that and we see so many of our clients that have a huge block and that block interferes with their ability to grow their business or their practice. So, if you're ready to change your mindset around debt and to take some big steps forward, check out one of our coaches, see if you can book a call with one of us and we can look at some of the interferences that you may have in your life, debt or otherwise, that prevent you from growing your business.
Check out the practice growth strategy sessions in the link below. Let's see if we can help break through that practice plateau, or that business glass ceiling that limits you, and make that into a new glass floor. And you can start to grow your business and your practice organically. Thanks for watching..