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Finance Personal Finance Be Free Of Personal Debts With Our 7 Step Plan
Finance Personal Finance Be Free Of Personal Debts With Our 7 Step Plan
| Be Free Of Personal Debts With Our 7 Step Plan |
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| Written by Mark Walters |
| Friday, 25 September 2009 09:32 |
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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 live a debt free life. I'm deep in the middle of the mid-life years 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 I am laying out the 7 steps (I won't say they are easy) to debt free living. 1. Accept that change is neccesary. Keeping the same bad habits will only result in the same painful results. 2. Where Are You? Take an afternoon to write down your existing debts, what your current assets are, and your total monthly income and total monthly expenses (cash flow). 3. How would you like your life to be? This is the time for some serious soul searching. Example questions being - What are my principles and values? What do I really want to get out of life? Use these as your defining goals and base all future decisions on them. 4. What options do you have? Everyday you're faced with decisions that affect both additional income and how you spend your money. 5. Choose your options. Take step 4 and make the difficult decisions. Finding part-time work? Internet business? Cancel your cable TV subscription? Reduce your cell phone plan? These represent just a few examples of things you need to consider. 6. Make a plan of action. Having made your decisions, set them down in writing. This is the guide that you use to make day to day decisions which must be made to meet your ultimate objectives. 7. Stay focused. Measure your progress and develop a system of rewarding yourself for each objective that you meet. Tweak the things that do not seem to be working. Before long you'll be financially free in way that that makes your old worries seem a lifetime away. Kindly provided by LJ-Marketing.dk You are welcome to use this article on your own website, if you include the link just before this text. |
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