How to Become Debt Free?
How to become debt free is a powerful goal for the majority of people in the world. There are so many people who think they never will be debt free that having debt is “normal”.
But I will tell you it is possible for anyone to become debt free if they “decide” to take the challenge.
How Can You Learn What to do?
There are a lot of people that can teach you how to become debt free just google it.
But be aware that some just want your money but there are a lot of them that can really help you get on the right path.
You’ve heard the saying that “you have to spend money to make money” right. Well there is some truth to that but you need to realize who’s money you are spending. If it’s your money that’s one thing but if it’s borrowed money that is another.
Example: The taxes we pay to the USA government is the people’s money right. But the government spends it like it is their money and to be honest that’s what we would want them to think when it comes to spending money. But the problem is they think they can tax their way out of debt but we all know how that’s working for them. NOT…
When we look at our personal debt there are a couple of ways that you can start to reduce it.
- Understand your debt and why you have it.
- Stop doing things that increase your debt.
I will tell you it is easier said than done for you, others and me. But I (we) did find a way to do it and will share that with you later in the post.
There was a guy who ran for President of the United States “the great country that I was born and live in today” that said something profound.
There are two ways to reduce the debt.
- Stop borrowing money
- Increase taxes and put that money towards the debt
Little to say even back then the debt was small compared to what it is currently. It used to be they talked millions and billions but today we only seem to be able to talk in trillions.
But you know the guy was spot on and we can learn a thing or two from these two things which we can apply to our own personal debt.
- Stop borrowing money
- Increase your cashflow to pay off that debt
Whether you’re deep in debt, medium debt or even a small amount of debt, if you want to become debt free and you do not know how then click here to find out about this awesome education about finances. It’s still up to you to get yourself out of debt but if you do not know how then check out the link above. It may be just what you’re looking for.
My Story on How my Wife and I Learned how to Become Debt Free
We went to visit our daughter in Texas one year and she had this book she wanted me to read. Now I am not much of a book reader but I started to read it and by page three I was hook on what the guy was saying.
We were there 3 days and I read the whole book. It was hard for me to put it down but I did when I had to because family is important. The impact the book had on me was something that my wife and I talked about on the flight back to Oregon.
We both were on the same page that we needed to become debt free before we got so deep in debt we would use the excuse why bother and just keep borrowing money.
The real key that I see when I look back is that “WE” both wanted to become debt free. We came together and when people do that good things happen.
It wasn’t easy though. Habits just do not go away because you decide your going to do something. We all know that right….
But as we put our plan together and as we applied what we learned in this course we were taking action and I mean massive action to accomplish this task.
As we followed the plan we could see how this really did work. So we took it as a challenge to see how quick we could pay off the first thing.
I would like to say I documented everything but I did not because I was more focused on seeing if I could do it than sharing it later in life in a blog post.
But we took action on the plan that was laid out and paid off all our credit cards, cars and local debt on accounts. To be honest, just having the cars and credit cards and a few local accounts paid off was a huge relief.
But we did not let that distract us.
We put all our extra money towards our mortgage each payday and in 15-18 months we paid our house off. Trust me I did not think any of this was possible before I read the book while I was in Texas.
We still have some business debt and still do but the business pays all that and our personal debt today is “ZERO”.
Believe it or not I believe I have found something even better than the program we took which I never thought was possible… Here is the link
I will tell you there is no better feeling than to be debt free. Never believe the naysayers that tell you its just part of life and you will always be in debt.
If I new this when I was in my 20’s I would be a multi-millionaire today but I am not. But I am debt free. So know it is not “How to Become Debt FREE” it is keeping the mindset you will never go into debt again.
Remember you can do this if you or if you’re married you and your spouse “decide” you want to be debt free. Never give up it is a rewarding journey…