If you currently don’t have any Debt then you can skip over this Key. But if you are like a majority of people in the United States then you are probably sitting on a pile of Debt. A pile of Debt to some people may be $2,500 and some it may be $850,000. Over the years I have worked with many different amounts of debt. Debt can seem huge or over whelming to anyone and it doesn’t matter how large of amount it is.
Some people have told me that they are afraid to check the mail because they don’t want to get any bills in the mail. They are stressed over the mail. Can you relate? Other people won’t answer the front door or their phone calls because they are afraid it is a bill collector wanting money. That is no way to enjoy life and a very stressful way to live life.
What can you do to change it? You can use your mind and tell your self enough is enough. I am done with Debt. I am not giving you Financial Advice, you should go seek that from a professional advisor like a Financial Planner or an Accountant. But I am telling you my life experiences and what I have been able to help others get out of Debt.
When you are able to get out of Debt you are then able to free up money to Invest in Assets that could create you Income. Isn’t that much better having Assets creating Income for you rather than Debt taking Income from you? I will always take Assets over Income.
Some people have Medical Situations that you can’t always forecast and they become seriously ill that created the debt. Then the only way to work to get that paid off is one step at a time. Using your budget to free up income to pay down your Medical Bills.
But most of the Debt people have are because they over spent. They spent money they didn’t have on non-Income producing assets. You decided to spend the money on that car, trip, TV, eating out, going to college or whatever it was. No one else did it, you decided to spend the money. Now you have to decide what you are going to do to pay it off. You need to decide what you are willing to give up to get Debt Free.
Take a look at your life and budget and what are some things you could possibly give up to get debt free. I know it may seem hard to you and like no fun but you had fun buying the items on credit, now it is time to pay the price for those items. Here are some items that maybe you could give up to get debt free so you can start to create more income;
Let me know your thoughts about this blog and let me know of Ideas you would like me to talk about in the future. I feel we can all learn from each other. That is why I am in the helping people retire early, enjoy life more and be more successful. Also, please see my Disclaimer page.
Don’t give up on your dreams; don’t let others talk you out of your dreams. Make your dreams happen. Make it happen today.
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Bruce of MillsWay.com