How To Feel Wealthy With Debt!

Would you like to learn how to feel wealthy with debt because I will explain in this post how I do it?

How To Feel Wealthy With Debt!

Do you want to feel wealthy no matter what it says in your bank account? I certainly do, which is why I’m sharing how you can feel wealthy today.

How To Feel Wealthy With Debt!

How I feel wealthy, even though my wife and I combined owe $651,000.

If you’ve been following closely, you’ll notice this number is significantly lower than the number last month. We paid down $5,700 of our debt in the last month and we’re on our way to being debt free.

You might look at me and think, “Well, how can you not feel ashamed like a failure and stupid for having all this debt?”

Let me say first, I did.

I did feel that way before and I saw that how I got into this much debt is by feeling that way. It’s feeling poor, feeling broke that attracts more of the same.

Now that I’m feeling wealthy and I’m feeling great about my life, my finances are rapidly starting to go towards having no debt, and then savings, as they’ve done before.

I’m grateful to share this experience with you today because I know how much it sucks to not even want to look at how much money you owe.

When I first took inventory of how much debt I had, it was over $660,000 in debt when adding my wife’s student loans and our mortgage, and I had borrowed 80 or so thousand more than I even realized because I felt so bad about it, I didn’t even want to look at it.

How To Feel Wealthy With Debt!

The first key step to feeling wealthy with debt is to take a look at exactly how much you owe and exactly how much the payments are, and exactly what the interest rate is and start asking for help.

That’s exactly what I did.

I went to a bankruptcy attorney and I realized that’s not what I want to do.

I can pay all this off and that’s the scenario where I will feel the best because I’m willing to ask for help and adjust what I do to make that happen.

I also am grateful that once I looked at the debt, it encouraged me to make huge changes. I’ve got a spreadsheet where I’ve cut over $50,000 a year in expenses. I’ve cut things all over in my business and all over in my personal life, and yet I still feel wealthy.

I still have the ability to buy whatever I want at the grocery store. I still can go get massages, instead of every week, I go every other week or every three weeks, and instead of going to a business, I go directly to a provider.

I still am getting all of the things I want in life instead of personal training, I have a gym membership. I am grateful that I feel wealthy because I see that the only way I got this much debt was by being so successful that banks all over have looked at me and said, “Yes, you will repay this back. We believe in you because you made so much money before because you’ve made your payments on time for 14 years and you’ve always repaid your debts. We believe in you and we will keep giving you money.”

The banks said that, even though when a regular person might have looked at this and said, “No, no more money for you.”

I’m grateful that banks are still willing to loan me more money today. This is not the maximum I could borrow.

However, I am interested in living a debt-free life today. That’s where I’m aiming at. I see that some of the most successful countries and companies in the world have huge amounts of debt.

The United States of America is the wealthiest country in the world and it has the most debt, or if I think it does, at least of any country in the world, you can look that up and fact check if you’d like to.

How To Feel Wealthy With Debt!

The point of this is: how I feel is driving my reality.

It’s not the other way around that my reality is driving how I feel, how I feel is driving my reality, and that’s why when I’ve been feeling wealthy over the last month, my debt has dropped, and I felt wealthy the month before and my debt dropped the month before that, I earned more money and I spent less money.

I’m grateful for all that you’ve done to help and support that, which is why I’m thinking every day, “How can I help you?”

I’ve gotten a lot of comments of people saying, “Jerry, I appreciate you talking about your debt because I’m struggling with the same thing and it’s nice to know what you’re doing with it,” and that’s why I’m making this, to show you that there’s a way out and it starts with feeling wealthy.

In terms of wealth, there’s a lot more to feeling wealthy. If you’ve read the book, “Think and Grow Rich,” there’s a lot more to being rich than how much money you have in the bank.

There’s health, there’s wisdom, there are relationships.

This is the best I think I’ve ever looked in my life. I’m absolutely beautiful and that is a form of wealth.

Do you know how many people with massive bank accounts would love to feel good about how they looked?

That is a form of wealth.

Having relationships, I have incredibly loving and supporting relationships with my wife, with my children, with my family members, with my community.

There are a lot of people with massive bank accounts would love to have those kinds of loving and supportive relationships, who don’t, who feel all alone despite having lots of money.

I have wealth today, I’ll cross my life. In fact, this is the only area in my life where there is any lack that has been demonstrated for any consistent period of time, and I can see that I learned a valuable lesson from borrowing all this money.

I was feeling down on myself in 2019, I had slipped out of my self-confidence and I was in such a rush to prove that I was wealthy, to prove how much money I could make, that I aggressively borrowed money instead of taking my time.

I was doing my taxes a week or two ago, and I put in all the numbers and I made $107,000 in income last year, which in almost any year of my business would have been the highest amount, except for 2018, 2017, 2016 and 2015, all the other years in my business, that would have been the highest amount I made.

What I see is, I spent $250,000 or so last year and that was the only issue I had in my business. I spent that money from a position of lack, feeling like my business wasn’t good enough and I had to work really hard to prove that it was good enough.

I’m so grateful today that from a position of feeling wealthy, of feeling like I have enough, I see that I don’t have to work hard, I don’t have to prove anything.

All I gotta do is show up every day and try to help you and give you something useful and remember my own value.


I remember that I’ve already made millions online and I’ve already done a lot to help other people, that I already have a huge following, that I already have everything in life one could possibly want.

That’s wealth.

I make my own schedule every day. It’s hard for me to even remember what it was like having a regular job. I haven’t had a regular job for almost eight years.

I have an incredible life today and that is wealth.

To be happy and to love the life I have, that is wealth.

I intend to show you every month as I take this debt, including the student loans, including the mortgage and get that to zero, and then show you as I build up and save money, and that’s where I’m going with this.

I talked to a guy the other day and I asked him, “What do you want?”

And he said, “I don’t know.”

For me, everything starts with what I want, and I focus on what I want, and I consistently get it and that’s wealth.

When you know that you’re going to get what you want, that’s huge.

That’s wealth, like unbelievable.

And if all this is sounding foreign and crazy to you, the starting point is to make sure everything you’re taking in is on par with what you want.

What I noticed is last year I got into attracting in certain places in my life of listening to things coming from lack and coming from scarcity, and then started resonating with those in my mind.

What I’ve done lately is I’ve locked down my focus. I don’t even see the public comments made on my videos, I don’t care if someone comes in on my video and talks about how much they don’t like this, I won’t even see the comment.

I surround myself with what I want and it’s important that I focus my energy. I take in only things that I want to produce out.


For example, I avoid watching TV. I avoid watching the news and instead I’m listening to audio books where I’m constantly motivated, and that is what helps me to have a mindset.

If this is sounding kind of crazy to you, just change what you take in.

Listen, watch my videos, watch other things that inspire you. You’ll be amazed the change that takes place just from doing that.

Thank you very much for looking at this with me.

I’m so excited to share with you that my wife and I’ve paid down $5,700 of our debt in just one month, and I will have another one of these next months to show you what progress we’ve made in March.

I love you.

You’re awesome.

I appreciate the chance to serve you today and I will see you again soon.

Jerry Banfield

Edits from video transcript by Michel Gerard.