Most likely, if you came across this site you are like many people and you are looking for help with your finances. I want you to understand that it usually takes a major lifestyle change if you want to be financially free. Most of us do not have a rich uncle that is going to leave us a bunch of money, and the odds are against you winning big in the lottery. It takes work and planning to be free from all those bill collectors and to start building wealth. The first thing that you must understand is that it is not going to be easy and you are going to have to be committed to become financially free.
Like most things in life, you need to identify your goals and create a plan to achieve those goals. For example, let’s say that the first goal is to eliminate the credit card bills. In order to achieve this goal, you need to stop purchasing on credit and start paying down your credit cards one at a time. The first mini-goal will be to pay off the credit card that you owe the least amount on. Once that first card is paid off, your mini-goal one is achieved, and you move on to paying off the next card to achieve mini-goal number two. Once you start seeing that you are able to achieve these mini-goals, it is much easier to move on to the next one. It’s not always easy, but if you really want to be financially free, this is a must do.
About this time you might be saying to yourself “Sounds great, pay off my credit cards. How exactly am I going to do that when I owe more that I make?” I want you to know that I’ve been there and it’s not going to be easy to get started. I personally put everything down on paper for about two months creating my plan and adjusting my plan to try and make the numbers work out. It wasn’t until I received another credit card bill with a late payment fee and over 20% interest until I decided to take that first step. The amount I was paying in interest and late fee’s would actually help me pay down my other debt. I thought, If I could only pay off that first credit card. I walked into the other room, picked up a pair of scissors, and cut that credit card in half. At that point, I made my commitment to take the first step and try and work my plan. After paying off that first credit card and reaching my first mini-goal, things seemed to get easier, and it made me feel great achieving my goals one after the other.
I other articles, I’ll cover setting financial goals, getting the money to pay down debt, and yes creating a budget and how to really work that budget. We will also discuss saving for the future, creating an emergency fund so you don’t need to use those credit cards when your car breaks down and my favorite part which is building wealth.
Good Luck & God Bless
Continue reading: Winning at the Financial Game.