Debt Repayment Means Dealing With Emotions

It is rare for people with debt to search the internet for guides.

Instead, they pay back what they owe or ignore it and spend more.

The truth: many people know exactly how to pay creditors.

Nevertheless, the basic steps are:

  1. Spend less than you earn.
  2. After that, save for emergencies while paying minimums so no further spending occurs.
  3. Act on bargain and income opportunities.
  4. Make minimum payments on all but the highest interest loan.
  5. Pay consistently until every creditor receives their due.

The people searching for answers are actually those suffering from the symptoms of money issues.

With owing money comes depression, added stress, and strained relationships.

Taking the time to assess these symptoms may prove hard.

It’s a necessary step, however, toward a solution to our money problems.

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Financial Independence and Its Meaning

When you hear about financial independence it doesn’t mean living off of the economic grid.

Instead, it means earning revenue from investments and ownership.

Relatively few people enjoy this status.

In fact, many people in the United States live the opposite. They borrow so much that total household debt rose to nearly $13 trillion as of March 2017.

That figure surpassed the previous peak set in late 2008. If you don’t recall, that was the year of the worst financial crisis since the 1930s.

To those that help raise the debt ceiling, please consider changing the root of your financial information.

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I Will Teach You to Be Poor, The #1 Poverty Primer

For all the emphasis on entrepreneurship, financial independence, and wealth building that a multitude of media outlets make, many more working people teach each other to stay poor. That continues today with these words.

Seriously, however, we do not come into this world to struggle and remain the working poor. We learn and mimic hardship the same as any behavior. People around us express it in their sayings and actions enough times that we repeat things like:

“No one supports me.”
“I am too old to try.”
“My phone died.”
“I never got my education.”
“I am from a certain background.”

Continue reading I Will Teach You to Be Poor, The #1 Poverty Primer