Personal debt is now at the highest level that it has been in history. Financial problems are the leading cause of divorce, depression and any other number of crushing personal problems. Think how much better you would feel should you be able to live a debt free life.
I'm now find myself in the middle years of my life and until recently I've experienced living in almost constant debt. The burden that put on my emotions, psychological well being and relationships was beyond measure and I can never go back and re-live those years. I would like for you to not have to go through that same pain and so I am laying out the 7 steps (I won't say they are easy) to debt free living.
1. Accept that change is neccesary. Keeping the same bad habits is going to keep producing the same painful results.
2. What's your current position? Take an afternoon to write down all your current debts, all your current assets (house, car, etc), and how much money you have coming and going out every month.
3. Where would you like to be? This is the time for some serious soul searching. Don't spend time on little items but really ask yourself - What are my principles and values? What am I seeking in life? Whatever you answers are, keep focused on them and make every decision from here on around those goals.
4. What options do you have? Decisions present themselves everyday which affect both new streams of income and how you spend your money.
5. Choose your options. Take step 4 and make the hard decision that need to be made. Second job? Internet business? Cancel your cable TV subscription? Reduce your cell phone plan? These represent just a few examples of things you need to consider.
6. Make a plan of action. Now that you've chosen your options put a plan down on paper. This is the guide that you use to make day to day decisions that are necessary to meet your long term goals.
7. Stay focused. Measure your progress and find ways to reward yourself for small successes along the way. Make adjustments if you find any faults in your plan. Before long you'll be financially free in way that that makes your old worries seem a lifetime away. - 29866
I'm now find myself in the middle years of my life and until recently I've experienced living in almost constant debt. The burden that put on my emotions, psychological well being and relationships was beyond measure and I can never go back and re-live those years. I would like for you to not have to go through that same pain and so I am laying out the 7 steps (I won't say they are easy) to debt free living.
1. Accept that change is neccesary. Keeping the same bad habits is going to keep producing the same painful results.
2. What's your current position? Take an afternoon to write down all your current debts, all your current assets (house, car, etc), and how much money you have coming and going out every month.
3. Where would you like to be? This is the time for some serious soul searching. Don't spend time on little items but really ask yourself - What are my principles and values? What am I seeking in life? Whatever you answers are, keep focused on them and make every decision from here on around those goals.
4. What options do you have? Decisions present themselves everyday which affect both new streams of income and how you spend your money.
5. Choose your options. Take step 4 and make the hard decision that need to be made. Second job? Internet business? Cancel your cable TV subscription? Reduce your cell phone plan? These represent just a few examples of things you need to consider.
6. Make a plan of action. Now that you've chosen your options put a plan down on paper. This is the guide that you use to make day to day decisions that are necessary to meet your long term goals.
7. Stay focused. Measure your progress and find ways to reward yourself for small successes along the way. Make adjustments if you find any faults in your plan. Before long you'll be financially free in way that that makes your old worries seem a lifetime away. - 29866
