5 Step Guide To Being Debt Free
Feeling Pressure About Your Finances?
Learn how to master your debt and change your concept of money in FIVE simple steps.
1) Realize Your Relationship With Money is Spiritual
You make money by investing time and effort into something. Your spirituality is attached to everything that you do. This means that when you don’t respect your relationship with money you are breaking your spirit.
In short bursts you may feel good about certain purchases but if you are not living under your means, the stress this will cost you will cause you more then just fiscal pain.
Spending more money then you make is the fastest way to become a slave. Slavery is the enemy of your spirit and freedom is what your spirit wants.
2) Change Your Concept of Money Scarcity
Money is abundant and unlimited! It is our own limiting belief that money is scarce. We need to break free of this mindset in order to grow our abundance.
You can make as much money as you believe you can and same goes for the opposite, you can make as little money as you think you are limited to.
3) Credit Will Bankrupt You OR Make You Rich
You need to learn to use credit to your advantage. Invest in things that will increase your net worth.
When you get a loan you will have to pay interest no matter what but if you invest in business, in real estate or in yourself you will be gaining more value.
We need to stop indulging in loans to feed our egos. This is where you loose.
4) Live Under Your Means Before Launching Your Business
You cannot learn how to run a successful business without running a successful household.
The money that you make always has to be more then the money that you spend.
5) Choose a Line of Credit Over a Mortgage Any Day
Lines of credits will always be better then long term mortgages because the way these two options compound credit is completely different and you need to take advantage of that.
Even if the mortgage interest rate seems smaller in the long term you will end up paying more because the interest is compounded year over year. A line of credit’s interest is linear and will stay the same year after year.
Mortgage interest rates grow exponentially every year.
Conclusion
When you feel stressed about money and your financial situation it is probably because you aren’t living by one or all of these rules. It is essential for your life transformation that you restructure your relationship with money, start respecting that way you gain and use it, and invest properly.
Following these FIVE rules are a sure way to start feeling better about your finances.
“Credit needs to be used for investment, and investment only.”