Getting out of Debt is a Negative Goal
Once upon a time, I lived a life of Debt. I Once lived a life of instant gratification, as a result, I maxed all of my six credit cards, yes, that’s six! And three store cards, that makes it 9!. At that time, I had no spending plan or budget.
I lived like there was no tomorrow! I always looked at my credit card as an ATM, my card’s credit limit as actual cash! Whatever I wanted, I bought. I was one of those people who believed that good things never came to those who waited – they came to those who didn’t! And when the time came that I had to pay the credit card and store card that were all past due. How did I handle it? Insanity – I borrowed more money to pay for borrowed money! I borrowed money from loan sharks, who as you may not know, are predatory in nature as they charge exorbitant interest rates for the money they lend.
Loan sharks were my only options at that time because banks no longer wanted to take any more risk with me, as I’m a delinquent borrower. As a result, I got into deeper debt. And that spelled my total financial ruin.
I tried other ways to deal with my debt problem, I consolidated my loans and it did not work for me as I keep going back to my old ways. I was so stressed that my creditors keep calling me at work. I worked overtime, the extra money I earned I pay it to my creditors. But, it did not last long as I got burnt out. I got really tired, I remember I was off for a week because of exhaustion.
My focus is to get out of debt, I totally forgot the reason why I got into this mess in the first place. That’s when I started to educate myself about personal finance. I realized it’s not what you have( money ) is the answer to my debt problem, but it’s my lack of financial knowledge in dealing with my debt.
If you wanted to know the steps I made to pay off my debt you can download my FREE mini eBook below. if you are experiencing the debt problem I encountered before. Download it NOW.