PAYING DEBTS

Hello and let’s get to talk about money.

If there anything in this world that can damage you is debts. I have had my fair share of falling into deep debts that was very difficult to get out of. This time around I want to discuss with you how to get out of debts and live a better and easy life.

I’m so excited to share the steps with you on how I got my life back.

quote calligraphy under cup of lemon teaI have fallen in love with financial literacy.

financial literacy is an essential in our everyday life. I had a month to train myself to be able to handle money and save and learning how to budget, how to prepare spending methods and learning how to use money on good investment is not easy.

Before we take this journey of learning how to get out of debt we should understand the value of money we have on our hands and the bank or the one we are planning to have. Money is not a topic that you just come up with.

On this day and era we have financial advisors we have brokers for our investments and we also have so much information on the internet libraries that can help us help ourselves individually without involving anyone or third party. No matter how much he want to look rich be financial free or have financial freedom you still need to understand financial literacy. The journey that I took to be debt-free was not an easy one I had to learn a few tips and tricks to get off the hook. So I have decided to share with you the same methods that I used to relieve myself from debt and live a debt-free life and easy life where I’m in control of my finances.

STEPS TO FINANCIAL FREEDOM

1. Most of the time before we deal with the problem we have to identify it. Identifying what causes your financial strain and what makes you spend money unnecessarily. The lack of money sometimes is not caused by How Little We got but on how much we spend. So identify what digs into your pocket that doesn’t return any cent.

2. After you identify your problem write it down. After writing the problem that you have try to list possible Solutions under that problem. If it’s budgeting you list them like budgeting, controlling buying food outside, buying groceries for the whole month that’s how you can come up with Solutions.

3. Now that you have identified the problem wrote down possible Solutions now try to figure out if you will be able to perform or work on the Solutions on your own. If it is a difficult for you to execute the action plan that will get to the solution go to the bank that you use for all your income streams. Sit down let them help you with a budget that will work for you for a long time and not strain your pocket so that you don’t borrow money from different people and different microlenders.

4. On this one if you are able to execute the plan on your own. Start cutting out things that make you spend money unnecessarily go back to the problems that you listed on number one and try to figure out a way of executing the Solutions that you wrote under the problem then you are starting your journey to financial freedom. Cut out credit cards that are unnecessary cut buying food out everyday which is expensive, cut out borrowing people that don’t return your money back. Those are a few things you have to cut out of your life.

shallow focus photo of woman in white and blue floral dress
Photo by Godisable Jacob on Pexels.com

5. Now that you’re working on the Solutions be the boss of your money no matter how much you are tempted to buy unnecessary stuff the first thing you have to think about is how will this benefit me? how will this bring money into the house? Will this give me Returns? These are the questions that you’re  supposed to ask yourself  before dropping your hard earned money down the drain. When you start thinking positively about money you start using money correctly. When you start spending on things that do not benefit you in any way about money money will not benefit you.

6. And now that you have worked on your budget you have worked on making money work for you. Pay the little debts that are eating from your pocket when you start taking control of your money remember to clear your debt when that credit card is no longer taking money from you pay the little debts that you made on the way. Now don’t force yourself to pay all your debts at once because it will strain you and you’ll go back to the same habit of borrowing money everywhere using money unnecessarily. So start paying those small debts that have been pestering you with the little change you’re left with from budgeting and using money wisely.

7. Now we are working our way towards financial freedom. We are on our way to that. We are winning at the thing of taking care of money, we are winning this thing of having control of our money. You are the boss of your money you are the leader the holder of money. I am happy that I was able to share this with you. I identify my problems I came up with Solutions I worked on my Solutions. A little bit so that debts weren’t taking money from me monthly unnecessarily. I took charge  so take charge too.

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It was a pleasure sharing that part of my life with you. I’m looking forward to testimonies on how you were able to beat that. I’m looking forward to your testimony on how you managed to get your life back financially. I’m looking forward to seeing you guys gain financial freedom and those are a few steps that I want you to offer you so that you don’t have to worry about money anymore. Remember money is an energy the way you treat money money will treat you. I’m looking forward to and next money talk. Work  hard and making sure we are all bosses of our money.

6 thoughts on “PAYING DEBTS

  1. bepassionateandprosper

    I love this post on taking control of your money and debt. Your tips were spot on! Just being willing to sit down and actually look at the places where you are spending too much is such great advice! This is exactly what got me on the road to financial freedom. I still struggle with charging to my credit card unnecessarily but your article is a good reminder to look at areas where I can cut back a little at a time. Thanks!!!

    Liked by 1 person

  2. nidocolectivo

    These are great advices for me. I used to spend money on things that I didn’t need and that was causing a big issue in my family. I had to do the same as you. Sit down and make a list and be the boss of my finances. Now, I don’t have so many debts. I still struggle with eating out but it’s not as bad as it used to because i buy groceries.
    Thank you for this post, it was very good for me 🙂

    Like

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