Debt can feel overwhelming. If you’re struggling with debt, the stress and weight of that
financial obligation can bring you down. It affects your attitude and your outlook on life.
This kind of stress and negativity isn't good for your business, nor is it good for your
personal life.
You must eliminate your debt in order to have money to invest in your business until
it is self sustaining. In order to do this you must increase your cashflow &/or savings.
When I say savings, I mean on your expenses & purchases. When you do that it is
like finding money that was not there. Take that extra money and use it to help
payoff your debts.
If you’re struggling with debt and your spending is out of control, here are a few tips to
help you get back in the black quickly.
#1 Learn Your Debt to Income Ratio
Your debt-to-income ratio (DTI) compares your monthly debt expenses to your monthly
gross income. You can calculate it quickly if you know your monthly debt payments and
your monthly gross income (the money you make before taxes are deducted). Multiply
your number by 100 to get your DTI as a percentage.
Ideally, you want to keep your DTI below 40%. In fact, the closer it is to 30% or less,
the more favorably financial institutions will look on you. If you’re wondering whether it’s
okay to take out a loan or use that credit card, calculate your current DTI. The percentage
will help you make your decision.
#2 Increase Your Payments
If you’re struggling with debt, focus on one loan or credit card to pay down first. Make
extra payments on that card. It’ll help reduce the interest you owe and a few extra payments
each year can make a huge difference.
#3 Create a Budget and Stick to It
It’s very difficult to know how to cut or control spending if you have no idea where your
money is going. Track your spending for a month and then use that information to create a
budget. Review your budget monthly to make tweaks and changes.
#4 Automate
Automate as much of your financial life as possible. Automate your savings by setting up
automatic transfers into your savings or investment accounts. Automate your bill payments
and automate your deposits. Now, make sure to also track the dates that payments go into
and out of your account. You want to avoid any overdraft fees. Some financial institutions and
utility companies allow you to set your monthly payment dates. This is useful because it gives
you more control over your cash flow.
Finally, create a cushion. Establish a savings account that is only to be used in financial
emergencies. When you unintentionally go over budget, use the cushion to cover it and then
rebuild your cushion. Ideally, you’ll have at least a thousand dollars in your savings account
for unexpected financial emergencies.
Don’t let debt get you down. You control your money and your financial future. Start taking
steps to show your bank account who is boss.
If you are in need of a program that will help increase your cashflow so you can
pay off your debt, check out http://www.MyTopFunnel.com/401607
Showing posts with label eliminate debt. Show all posts
Showing posts with label eliminate debt. Show all posts
[URGENT] I had to share this now
I don't know about you but it is time for me to start
making things happen instead of waiting for them to
happen. You know why, because it never happens.
We are only here on planet earth for a short while
so, we need to make the most of it while we are here.
When you show up for work tomorrow, the 4th quarter
will be in play.
That's right, three quarters down, and one to go...
are you going to use it to finish the year strong?
Think about it...the year is now 75% complete.
And, if you had ambitions of making $200,000 this
year, you should NOW have $150,000 in the bag.
If you set a goal of paying down $20,000 in debt,
you should be $15,000 lighter by today.
If you started the year overweight and determined
to lose 30 pounds, then you should have dropped 23
pounds and be wearing baggy pants right about now.
Are you on track with any of your goals?
Have you surpassed your expectations?
Are you even close?
YOU cannot possibly believe that if you keep on
doing things just as you've been all year that
your results will somehow turnaround and improve.
TODAY IS REDEMPTION DAY
If you're ready to make a change, to redeem
yourself and finish the year strong then you must
step up your game and RISE TO THE CHALLENGE.
And the best program in the world for achieving
all of those objectives is the 100 Day FINISH
STRONG Challenge.
http://bit.ly/ziqOMP
Do not hesitate to act as enrollment closes in
just a few hours, and this day of redemption will
come to be know as a day of regret.
Live without regrets, take control of your future,
and use the extreme performance acceleration to
finish the year with a BANG.
http://bit.ly/ziqOMP
you're going to be very happy
that you took action!
Lorenzo Rothery
making things happen instead of waiting for them to
happen. You know why, because it never happens.
We are only here on planet earth for a short while
so, we need to make the most of it while we are here.
When you show up for work tomorrow, the 4th quarter
will be in play.
That's right, three quarters down, and one to go...
are you going to use it to finish the year strong?
Think about it...the year is now 75% complete.
And, if you had ambitions of making $200,000 this
year, you should NOW have $150,000 in the bag.
If you set a goal of paying down $20,000 in debt,
you should be $15,000 lighter by today.
If you started the year overweight and determined
to lose 30 pounds, then you should have dropped 23
pounds and be wearing baggy pants right about now.
Are you on track with any of your goals?
Have you surpassed your expectations?
Are you even close?
YOU cannot possibly believe that if you keep on
doing things just as you've been all year that
your results will somehow turnaround and improve.
TODAY IS REDEMPTION DAY
If you're ready to make a change, to redeem
yourself and finish the year strong then you must
step up your game and RISE TO THE CHALLENGE.
And the best program in the world for achieving
all of those objectives is the 100 Day FINISH
STRONG Challenge.
http://bit.ly/ziqOMP
Do not hesitate to act as enrollment closes in
just a few hours, and this day of redemption will
come to be know as a day of regret.
Live without regrets, take control of your future,
and use the extreme performance acceleration to
finish the year with a BANG.
http://bit.ly/ziqOMP
you're going to be very happy
that you took action!
Lorenzo Rothery
Five Simple Steps to Getting Out of Debt
If you are tired of being in debt & having your choices limited then
here is some help to cure your debt problem. However, nothing will
change without you taken action!!
There are more people in debt than ever before and it is a heavy load to bear.
Our economy is in a downturn, food and gas prices are higher than ever, and
there are strong indications that bankruptcies are on the rise. If you struggling
with debt and the stress of it all feels like a heavy weight you can no longer
bear, here are five simple steps to getting out of debt.
1. If you have more than one credit card, choose the one you have had the
longest and cut up the rest. Resolve that you will not use this card unless
there is an emergency. From now on, pay for everything with cash. When
you go shopping, leave the credit card at home. In this way, you will not be
tempted to buy something you probably don’t need and definitely can’t afford.
2. Pay down the debt by adding more to the minimum payment required. In
addition, call the credit card companies and ask to have the APR lowered.
Begin paying off the credit card with the highest interest rate first. Then use
the money you would have paid for the first card and add it to the next debt.
3. Develop a realistic budget and stick to it. Make a list of all debts and
income. Determine where you can cut down on spending and make a
concerted effort to follow through with the plan. Statistics show that over
60% of households start a budget, but give up after a short time. Seize
the moment!
4. If you need to, ask family members for a loan so that you can pay off
your debt. The use of debt consolidation organizations may not be a good
idea since many of them have been shown to defraud their customers.
However, consulting with reputable and certified credit card counselors may
give you additional tools and resources you can use to get out of debt
sooner rather than later.
5. If necessary, you may have to find a second job to help you achieve a
debt-free life. Also give serious consideration to selling items you no longer
want or need on eBay. The profits can be applied to the debts. Yes, there
will be sacrifices that need to be made but consider the final result and how
proud you will feel that you accomplished your goal!
We live in a world of debt; that’s the reality. But if you consider utilizing
these steps to get out of debt, you will not only feel that awful weight being
lifted off your shoulders, but you will become a healthier and happier
person as well.
So, if you are ready to take action and get rid of your debt problem once and
for all then I may have just the answer for you. We are suppose to be
living a life of abundance and without limits but we are not because of the
brainwashing. However, there is a way for you to get rid of your debt by
helping other people get rid of theirs. Go watch this video and if what you
see makes sense to you get involved. You can see the video at
http://bit.ly/U04TCo
If you need assitance then you can send me an email at
lorenzorothery@gmail.com
here is some help to cure your debt problem. However, nothing will
change without you taken action!!
There are more people in debt than ever before and it is a heavy load to bear.
Our economy is in a downturn, food and gas prices are higher than ever, and
there are strong indications that bankruptcies are on the rise. If you struggling
with debt and the stress of it all feels like a heavy weight you can no longer
bear, here are five simple steps to getting out of debt.
1. If you have more than one credit card, choose the one you have had the
longest and cut up the rest. Resolve that you will not use this card unless
there is an emergency. From now on, pay for everything with cash. When
you go shopping, leave the credit card at home. In this way, you will not be
tempted to buy something you probably don’t need and definitely can’t afford.
2. Pay down the debt by adding more to the minimum payment required. In
addition, call the credit card companies and ask to have the APR lowered.
Begin paying off the credit card with the highest interest rate first. Then use
the money you would have paid for the first card and add it to the next debt.
3. Develop a realistic budget and stick to it. Make a list of all debts and
income. Determine where you can cut down on spending and make a
concerted effort to follow through with the plan. Statistics show that over
60% of households start a budget, but give up after a short time. Seize
the moment!
4. If you need to, ask family members for a loan so that you can pay off
your debt. The use of debt consolidation organizations may not be a good
idea since many of them have been shown to defraud their customers.
However, consulting with reputable and certified credit card counselors may
give you additional tools and resources you can use to get out of debt
sooner rather than later.
5. If necessary, you may have to find a second job to help you achieve a
debt-free life. Also give serious consideration to selling items you no longer
want or need on eBay. The profits can be applied to the debts. Yes, there
will be sacrifices that need to be made but consider the final result and how
proud you will feel that you accomplished your goal!
We live in a world of debt; that’s the reality. But if you consider utilizing
these steps to get out of debt, you will not only feel that awful weight being
lifted off your shoulders, but you will become a healthier and happier
person as well.
So, if you are ready to take action and get rid of your debt problem once and
for all then I may have just the answer for you. We are suppose to be
living a life of abundance and without limits but we are not because of the
brainwashing. However, there is a way for you to get rid of your debt by
helping other people get rid of theirs. Go watch this video and if what you
see makes sense to you get involved. You can see the video at
http://bit.ly/U04TCo
If you need assitance then you can send me an email at
lorenzorothery@gmail.com
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