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“You must gain control over your money or the lack of it will forever control you.” Dave Ramsey
Too many people dream of winning the lottery, thinking this will end their problems. But what they do not understand is that there is much work needed to build a strong foundation in your mindset, your habits, and your actions.
It takes discipline to become successful with your finances, but it can be done. It can be emotionally draining when you are continually trying to figure out how you will make the next month’s rent payment.
Don’t tell me you have never been there. Even some of the most successful people in the world once were homeless living on the streets.
Then you throw kids into the picture. When you only have yourself to worry about the burden of debt, it’s tough, but when you try hiding your emotions from your children, it becomes unbearable. You already are working one too many shifts. It makes you want to cry, or better yet scream at the top of your lungs.
We have been there. There is nothing more stringent on a relationship than debt. But credit card companies make it so easy. They keep sending you offers. Then there are commercials on TV advertising when you are at your weakest moments.
Your subconscious mind stores these messages and writes it into your program, which influences your compulsive buying habits…
We are consumers. We buy stuff. But eventually, it all catches up to us. Soon, your debt to income ratio is out of balance.
You have heard about wealthy millionaires who end up filing bankruptcy. They were spending more than what they made. It doesn’t matter if you make $50,000 or $500,000 a year. If you don’t have discipline with your money, you will struggle for the rest of your life.
Get Out of Debt and Stay Out of Debt
I had to travel around the US trying to work my way out of debt. I was away from my family, doing whatever I could to pay the bills.
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The first thing we did was admit we had a problem.
Now it is your turn.
“I _________ admit I am a consumer and enjoy buying useless things because it makes me feel good.”
The next thing you need to do is STOP buying useless crap.
Seek help with debt programs. Don’t file bankruptcy. You can work your way out of this hole even if you must sell things.
Have a yard sale. It will amaze you at how much money you can make. Sale your car and ride your bike to work, if possible. Buy a cheaper car.
Call your credit card companies and explain your situation. Sometimes they will work with you and drop your payment. This should bring some relief for a while.
Cut up your credit cards. If you think you need one for emergencies, put it away where you can’t get to it. Make sure it only has a limit of $1000. If required, you could pay this amount off in a reasonable amount of time.
$1000 should be enough to cover most emergencies.
We recommend that you have an emergency saving account to cover your debt for at least two months.
It takes willpower for financial freedom. But the more you use it, the better your money mindset becomes.
Start Chipping Away at Your Debt
“Financial freedom is a mental, emotional and educational process.” Robert Kiyosaki
We believe it is more important to pay your debt down first, then build your savings up. When you look at the interest rates on your credit cards compared to the interest rates, you will make in a savings account, you find that the credit cards are higher.
You are not making money, but you are losing debt. Which in the long run is money in the bank? Paying off your liabilities will be such a relief.
There is the snowball effect that can be used for paying down your balances. Some recommend that you pay off the most substantial payment first. But we recommend that you pay off the highest interest debt first. When you pay off one credit card, apply that payment to the next highest and so on.
It will take time but will be well worth it. Debt is very stressful. Besides, there is so much freedom when you have no obligations. You do not have to be a millionaire to be financially free. You need to educate yourself on how to break the chains of debt, which bind you.
You need to learn how to be disciplined with your money. Just say NO!
We highly recommend that you check out some of Dave Ramsey’s books on amazon.
We have used these books, and they have helped us get out of debt and stay out of debt. We are here to tell you there is hope for becoming financially free.
Keep your head held high, keep smiling, and keep a positive attitude. Life will get better.
It’s Possible to Obtain Your Financial Goals
“A big part of financial freedom is having your heart and mind free from worry about the what-ifs of life.” Suze Orman
My wife and I have been on the top, and we have been at the bottom, so we know about debt and the hardship. We went from living in a trailer house, barely making $30K between the two of us, in debt up to our eyeballs, to building our dream house, paying off over $250K of debt, and making a 6-figure income.
Was it easy going you might ask?
HELL NO! It was very tough. Not only was it draining on our relationship, but it was strenuous on our health. But we had the vision to get out of this hole we got ourselves into, and we kept chipping away at smaller goals.
We knew in our minds we could do it and we would let no one get in our way. We were patient and gave ourselves plenty of time. Because in all honesty, too many people are looking for instant gratification.
Don’t get us wrong here; There is nothing wrong with getting rich quickly. But it’s the weak foundation which causes it to come tumbling down. Hence, the reason one must grow through resistance and failure first. It strengthens your mindset and your faith.
We Must Keep Growing
After we had reached all our financial goals and got our so-called dream jobs, we thought it was the end of the line. But what we found was that when we stopped growing and setting goals, we fell into a rut.
We became comfortable, and we needed new goals to get us back on track.
When we were digging our way out of debt, we had a big goal and a vision to break free, and we accomplished it. After this feat, we established new goals keeping us on track to build our house. It was tough, but we had a plan, we set goals and had our vision.
But after we reached our final destination, we didn’t establish a new aim, and we settled into our comfort zone. We became stuck and were running on autopilot. Day after day, week after week we were going to our jobs, which was slowly sucking the life out of us.
We were taking the same route to our jobs and having the same old boring morning routine.
We knew we had to make some changes. We were not going to spend the rest of our lives working at a job where we lost our PASSION. We needed a side hustle to increase our income and eventually replace it so we could live the life we so desired.
When I say side hustle, I mean work your butts off on the side. But what is the alternative? Work another 20 to 40 years at your job…
So, we set our sights on becoming 6-figure bloggers. There is so much potential blogging and affiliate marketing.
But one of the most important lessons we have learned on our journey is that we cannot succeed without first helping others achieve their goals in life. What a concept.
Because if you are only chasing money, you will push it further away. But if you redirect your energy on bettering people’s lifestyle, blessings will come pressed down shaken and overflowing.
Become Disciplined with Your Finances
Whether anyone wants to admit it, financial independence is one of most people’s biggest goals. Because we need money to pay for the necessities. Plus to have a little fun.
There is nothing wrong with this. We all need cash like we need to breathe. But don’t let this be your driving force because you will only push it away.
Make your focus be about having a better lifestyle. It’s time to dream a little, so make your vision about financial freedom and living a life you truly desire.
Start building a stable money mindset and have the discipline to break free from the chains which are binding you from getting what you want.
Now it’s time to do the work. You will have to educate yourself on your finances. Read Dave Ramsey’s Amazon book collection. Look into debt consolidation programs.
No matter what you do in life, it all takes persistence, patience, and perseverance. So, keep your eye on the prize and never look back.
To prepare for a more abundant life, one must build a rock-solid foundation. The work you do today will better prepare you for tomorrow.
Debt is becoming a plague on this planet, and we hope to inspire you to redirect your focus.
“Working because you want to, not because you have to is financial freedom.” Tony Robbins