7 Steps To Personal Debt Free Living
The level of personal debt accumulated has never been so high. Money issues are the primary cause of divorce, depression and any other number of crushing personal problems. Imagine the weight that could be lifted off your shoulders should you be able to realize the dream of debt free living.
I'm now find myself in the middle years of my life and for many of my previous years I knew nothing besides living in constant debt. The burden that put on my emotions, psychological well being and relationships was immense 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 below I have laid out how to achieve debt free living in 7 (not necessarily easy) steps.
1. Accept that change is neccesary. Keeping the same bad habits will only result in the same problems repeating themselves.
2. Where Are You? Take an afternoon to write down your existing debts, what your current assets are, and how much money you have coming and going out every month.
3. How would you like your life to be? Be introspective and ask yourself some serious questions. Example questions being - What are my principles and values? What am I seeking in life? Use these as your defining goals and make every decision from here on around those goals.
4. What are your options? Everyday you're faced with decisions which affect both additional income and how you spend your money.
5. Decide on your options. Take step 4 and make the hard decision that need to be made. Finding part-time work? Starting an online business? Cancel your cable TV subscription? Use your cell phone less? These represent just a few examples of things you need to consider.
6. Create a plan. Having made your decisions, set them down in writing. Then you'll have something to refer to when making the daily decisions which must be made to meet your ultimate objectives.
7. Monitor & celebrate your successes. 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. You'll soon have financial freedom that that makes your old worries seem a lifetime away.
I'm now find myself in the middle years of my life and for many of my previous years I knew nothing besides living in constant debt. The burden that put on my emotions, psychological well being and relationships was immense 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 below I have laid out how to achieve debt free living in 7 (not necessarily easy) steps.
1. Accept that change is neccesary. Keeping the same bad habits will only result in the same problems repeating themselves.
2. Where Are You? Take an afternoon to write down your existing debts, what your current assets are, and how much money you have coming and going out every month.
3. How would you like your life to be? Be introspective and ask yourself some serious questions. Example questions being - What are my principles and values? What am I seeking in life? Use these as your defining goals and make every decision from here on around those goals.
4. What are your options? Everyday you're faced with decisions which affect both additional income and how you spend your money.
5. Decide on your options. Take step 4 and make the hard decision that need to be made. Finding part-time work? Starting an online business? Cancel your cable TV subscription? Use your cell phone less? These represent just a few examples of things you need to consider.
6. Create a plan. Having made your decisions, set them down in writing. Then you'll have something to refer to when making the daily decisions which must be made to meet your ultimate objectives.
7. Monitor & celebrate your successes. 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. You'll soon have financial freedom that that makes your old worries seem a lifetime away.
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posted by SolveItQuick at
8:33 AM
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