When people share their stories about their debt-free journeys they often refer to their ‘light bulb moment’ but what exactly does that mean?

Turning 18 is a definitive moment in time. It marks the transition between childhood and legally recognised adulthood. You can vote, you can get a mortgage, you can get credit.

Newly approved credit cards and loan offers initially make the ‘have-it-now’ consumerist society we live in all the more appealing. Want something? Why wait? Just whack it on the card and you can have it now! The repayments are only small and you can manage them no problem!

Fast forward a few years down the line and available credit is no longer a novelty but the norm. You find yourself juggling between cards, deciding which to pay, which to hold off and who can wait til later. The repayments are higher now and the letters more demanding.

For many, the cycle continues for many years before they sudden realisation that life cannot go on this way. You cannot keep robbing Peter to Pay Paul. Something needs to be done.

That moment of realisation is referred to as the ‘light bulb moment’, so-called due to its comparison with a mental flicking of a switch, and is often triggered by an action or event – sometimes one completely unrelated to debts or money in general.

Dealing with the light bulb moment can be frightening. Sitting down and totting up how much you really owe can be horrendously eye-opening and sickeningly earth-shattering at the same time. If this is you right now you may be feeling chronic despair and heart-rending despondency.

Don’t.  

You aren’t the first to have fallen into the debt trap and you certainly won’t be the last. What matter now is going forward, and while it may not be easy, the good news is that many who have experienced their light bulb moments before are now completely debt free or close to it.

If you are someone who experienced a light bulb moment in the past please share your story with us. If you are just starting out your debt free journey let us know so that we can support you on your way.