Debt breeds fear

Debt breeds fear and limits your options. Is this how you want to live?

If you have debt you become fearful of losing your job and aren't mindful of opportunities that may present themselves.

It's hard to reach for opportunities when you are weighed down by debt and the worry and frustration that comes with it.

Get out of debt and rid yourself of fear.
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Seven out of 10 don’t budget

Seven out of 10 people don’t budget, think debt is normal, and live paycheck to paycheck. Why follow the crowd? Come on over here, there is plenty of room and we are easy to spot. We are the ones smiling.

Having a financial plan sets you apart. Don't be like the majority. Tell your money where to go, give each dollar a job, and rid yourself of all debt.
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Put it on paper

You can’t know how much you have, or don’t have, until you put it on paper. Make that budget, don’t leave it to guesswork.

You must figure out how much money you are bringing home and how much is going out the door.

You must write down for a month everything you spend money on. I think you are going to be surprised.
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Rent it at ridiculous rates

Unless you pay in full you don’t own anything. It can't be said more simply.

If you drive a car off a lot and show your family the new vehicle you just bought with a loan, you basically are showing them someone else's car.

Do you want to own your property or do you want to rent it at ridiculous rates?
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Your agreement to overpay

Using credit is your agreement to overpay.

A $1,000 item paid for in cash costs at most $1,000 and you own the item then and there.

A $1,000 item purchased with an 18% credit card will cost you $2,114.41 ($1,115.41 in interest) and you will not own the item for 153 months.

Are $1,000 things worth $1,000 or $2,114.51 in your world?
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The solution is in your mirror

The solution is in your mirror. Go have a heart to heart with that person.

I can tell you. Others can tell you. You can read it. You can hear it. But, until you want to be debt-free, beholden to no one financially, and truly in control of your personal financial life, all the facts, figures, and feel good motivation in the world will not mean a thing or help in any way.

Only you can fix you, no one else.
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The first piece

Being debt-free” is the first piece of any “investment strategy.”

Investing is risk-based, but paying off debt is a no-brainer. Many think they should do both, when, in effect, they are paying out more money than they can ever hope to gain.

Investments are often at risk of being lost completely. Don't complicate personal finance. Get out of debt, then invest. Gains then are truly gains.
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