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Get out of debt. 5 easy to start your path to true freedom (not just financial) steps
Can you imagine a bank employee recommends you getting out of debt ?
(This is a guest post Juan José Bogas - see bio at the end of the post -)
Well, I'm going to do, but first let me make a small confession.
The not tell anyone, will be our secret (sissshhhh). I have loans yet. I'm still not free, although I need little.
I'm just a lowly apprentice every day is closer and knows how to get out of debt . I recognize those you took me not fall even sleep well for a while.
I am sorry. I hope I have not disappointed.
In this article, I'll tell you my own experience, from two points of view.
- From the personal side, where I walked slowly into a dynamic increase in loans and how I am getting closer to get rid of them.
- From the professional perspective, from the point of view of a bank employee, I'll tell you some tricks that you free long before the heavy burden of monthly installments of your debts .
Now I dare to think in perspective and in a thoughtful manner, ensuring that there are several reasons that led me into a diabolical dynamic purchasing increasingly loans.
Surely in your case matches any of these reasons:
- There is an alarming lack of financial education . Note that this is not spoken even in college in races like I did, Enterprise.
- Almost no financial targets defined clear short, medium and long term, to help you achieve your dreams.
- Consumer society in which we live and which we are continually bombarded with acquiring more and more things.
- We often live on autopilot , most decisions are made consciously soon.
- In my case, I have access to fast and cheap credit . Well, this happened a few years ago most people too.
Rich money for all
Well, if you stay a few minutes, you will discover why you should make the decision to carry out a plan that makes you get out of debt as quickly as possible and the 5 easy steps to achieve this .
Would you like? ... Well here we go.
Slaver XXI Century
If you're in this blog, you're a lover of freedom . I think, from the depths of my being that everyone should walk to Freedom.
A basic way to define this word, can be like the opposite of slavery .
One of the meanings of slavery, according to the RAE is "excessive Restraining by which a person is subject to another, or a job or obligation".
Do you know that in today's society there are more slaves than at other times in history?
When I hear the word slave, I always comes to mind the television series of the 80s, North and South , with the US Civil War and cotton plantations worked by black slaves.
They were forced to work from sunrise to sunset ... and all I got was food and shelter (housing).
I know you think I'm an exaggerated and think that there is now more freedom than neck, that slavery is abolished. Well I'll tell you what I see almost daily in my job at the bank.
People who work from sun to sun (like black series) ... and you know what ?, to pay the carddepartment store where they buy food, car loan (which serves to go to work), and Mortgage (your home).
Do not you see the similarities?
Many people today, not knowing how to get out of debt, are slaves of their loans and credit cards. Therefore the first step to achieve that desired freedom is to leave the state of slavery, leaving debts. When you get this, you 'll have an extra prize. It will be closer to your financial freedom.
Getting out of debt in 5 steps without becoming a hermit
Please be clear about one thing, the idea of paying off your debts as soon as possible, does not mean "stop living." It is perfectly compatible with your current life, no need to you to become a slacker or a hermit .
It is only organize your personal finances and prioritize a very specific aspect: that of putting all your energy to increase your savings and destine to eliminate your loans as soon as possible.
And this is done with a method, a system simple step by step from zero.
Step 1. mentality. What if you decide to buy your own freedom?
Grau such as Augustine says (do not know if you sound familiar), everything starts with a thought.
That thought makes you feel an emotion that leads you to act in a certain way and get a result.
Perhaps you have not done anything so far to get out of debt because you have not had the right mindset , because you have not figured out how to eliminate your debts the way I did when I reflected for the first time on Slavery and Freedom.
Now you have it easy. Simply decide to buy your freedom out of debt and act accordingly.
You probably have to do something different than what you came by. Go ahead. I assure you that with the right mindset you can get almost everything.
Step 2. Keep track of expenses
In order to eliminate your loans and credit cards you may need to improve and control your personal finances . You have to know how much you earn and what you spend.
Do not put face of surprise. You'd be surprised how many people have no idea of winning money. Do you think then you know what they spend it?
If you have to save to spend that money (or part thereof) to get out of debt, you have to know exactly what you spend money games.
You I'll make it easy. I'll leave this link my control sheet Income and Expenses . This tool is the one I use myself.
Record your expenses and once a month examines how it was your money. This will allow you to take concrete and good decisions on what expenses are going to reduce or do without to achieve your goal to eliminate your debts .
If you ever wondered getting out of debt and want to lay the groundwork for doing so, this step is the most important. Please do not skip it .
Step 3. List and sort your debts
Do it. Not worth to you to think. Write down all your debts. And not just banking. If a relative of yours ever lent you money if you have a deadline of a purchase of higher amount, you note them down on paper and put it somewhere visible.
This will allow you to stay focused on your goal. If you add a photo of something you want to do (a trip, for example) once you get out of debt, your motivation will be enhanced.
When possible trip to pay your debtsStep 4. Take action. Snowball method
It is a very simple system. Arrange the debts of the previous paragraph by time low to high. That you have less time to finish them will be the first that you should to "attack".
Destines monthly savings you get after detecting leaks of money in step 2 with your control spending, and devotes that amount to prepay debt that appears on your list first.
When you're done with it, use the monthly savings plus share of finished debt and go for debt number 2 on your list. Cancela early debt number 2 on your list with that money.
Do it every month. When you finish with the second, go for the third. So to complete the process. To be free.
Step 5. Accelerates with extra income
But not any extra income. If it is the ordinary you change your time for money (employed or self ...) serves no income.
Would fall into the paradox of being even more a slave.
Ideally you implement a passive income . The one you want. Of course you are on the best web to learn and adapt that income to your way of being.
At first we all costs, especially because our limiting beliefs. You do not know how to make money beyond a paycheck does not mean you can not do.
If that's the case, you have to read 3 solutions on how to make money that appear in this article.
Getting out of debt super fast with these 2-saving tricks
When you start this process and leaving slavery, eliminate your debts and make available more money (paying all those fees are now yours !!!), you'll have to get your personal finances in order.
This will make you avoid surprises in your economy and have planned your expenses. When you reach this (and I assure you that in 1 month you can have that feeling of dominating the money and not the other) you can devote resources previously were using to plug holes. It's almost like the miracle of the bread and fish.
Lee only slightly more (almost done) and you'll understand better what I say. I'll tell two saving tricks that will multiply your money available.
Save at least half of tax refunds
If you find yourself in the case of most people of my country, that return of taxes paid in the months of May and June, you will destinies that money to pay debts (which previously had ordered) or I spend it all in a vacation.
Acquires the habit of keeping half .
I am convinced that once started the process and practice the art of getting out of debt , you will not have to face the payment of any debt with that money and have planned your vacation.
My proposal is to save half, either for use in removing more debt, good for long - term savings . As is the issue also you should be planning your retirement .
With the other half, celebrating with your loved ones who are getting to be free.
Save at least 50% of all extra income
And here the imagination to power. Any extra income is all that comes to you in respect of:
- Salary increase.
- That income you've implemented following step 5 I told you about above.
- Collecting your work incentives.
- Gifts from relatives or friends.
- Selling something you no longer use.
In short, everything you can think of to reach your pocket some extra cash.
And you have one less excuse to complain of banks, loans and your money in general.
Take the right decision and apply everything you read, no matter if you use the little money initially to cancel in advance. The important thing is to start, remember that a journey of 1,000 kilometers begins with a single step.
So if you want to get out of debt, and acts for them !!!!
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