Most people say that the rich are the only one who can be free from debt. That is not absolutely true. There are actually many rich people who are rich but because they live out of the money that is borrowed. There are also people who don’t have much money but they are far richer than the rich of today because they are free from debt. Well the truth of the matter is anybody can be debt free and lessening the debt is actually not that complex. You just need some hard work and some common sense. I gathered some ideas (some from my own experience) wherein you can avoid debt or you may even try to get out of it.
Keep Away from Speedy Fixes. Try not to borrow money in order to pay the money that you owe. There are a lot of sources in the industry wherein easy credit are offer but with very high interests. These are what are called the speedy fixes wherein your debt hole will get deeper and deeper. Other people buy many lotto tickets or may even gamble their remaining money. The said method is not advisable and your life will lead to utmost disaster.
Liquidate your belongings. Check the belongings that you have in your homes. They are always the items that you wanted and not really the stuffs that you really need. You may sell them at a much lower price or for a loss and ensure that the money will be used to pay off your creditors. You may also have some subscriptions like gym memberships, phone bills, subscriptions of newspapers or magazine and such other plans. Minimize those expenses on those plans and subscriptions so that you may be able to stop your further loss.
Moving Out of the Denial Stage. Actually this should be the first step that you should do. The denial stage is finished. Be real. You should arrive at a decision to be out of debt right now and focus on doing some work at once. Try to stop blaming people and also stop blaming the conditions that you encounter. You simply made an error in your life. Be responsible; this is the start of your healing process.
Try to Work Hard. Accept any job that will add more money into your wallet. Remember that speedy fixes are for lazy people. Hard work and more sacrifice are for responsible and disciplined people. You should have the desire to sacrifice and work hard so that you will be able to fix the current situation that you are currently in due to your own irresponsibility on your finances. Of course, if you are not willing to sacrifice and do more hard work, then everything is at a loss. Remember that work is the only means that you will be able to obtain money to pay off your debt.
Always Budget. You just need to face arithmetic even if you don’t like it. Be an accountant just for now in your life. List each expense that you make even if it is not expensive. In this way, you may be able to account where your money is going. Bear in mind that you may not be able to manage what you do not account.
Live Simply. It is simple. You are bearing a bad image because you are in debt and stop worrying about your image. Just live simply, that’s it.
Pray to God and He will do the Rest. Ask for the wisdom of God. With the help of God through prayer and support from your family, grace will easily come. Ask God for additional opportunities for financial recovery. I believe this last tip is very useful.
Ever since the financial crisis came, there are many people who really changed their lives and turn to God for help as most of the businesses really went down aside from losing their homes as well.
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