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How to get free from debt

Having debts is now a lifestyle and also a problem for most of the people, let's see some tips that we can do to make us free from debt immediately:

1. Be honest to yourself


Many people have living expenses exceed their income, they earn $1,000 but living with $3,000 life style cost. So don't be surprised if you had minus cash flow each month covered by the credit card debt, Indebted to loan shark, and various other debts.

Maybe we could fool people with our appearance, clothes, cars and gadgets we use, but only ourselves who know the real condition of our finances.


2. Have financial goals


Don't let the retirement funds that you saved is less than the mortgage debt owned by mortgage debt owned. And the parents who spend more money to spend rather than invest their children's education fund.

3. Check-owned assets


Apparently there are many people who have the assets to repay the debt, but choose not to settle it. Just imagine if we have cash in savings of $5,000, but has a credit card debt of $ 1,000. Hence, we only get an interest return of 3-4% per year, but we must pay 2-4% interest per month or 24-48% per year!

Use assets that you have to pay off the debt and immediately switch your debt to savings and invest properly.

4. Say no to debts


When we can't reject something that we don't necessarily need, then the consequences there will be more cost to incurred, and it would be more difficult if the payment is made by credit card or debit card. So have the courage to say no, do transactions where you have the initiative.

5. Learn to say enough


If buying one item alone is sufficient then we don't have to buy a dozen of the same goods  just because there was a discount for certain credit cards holders. Discounts will always be there, so no need to worry, because why would we accumulate items that are not used in the near future? And there is possibility that it can be expired due to too long stored, stacked in a closet or shed.

6. Increase revenue / income


Sometimes it is necessary to be creative, a heavy burden of debt can actually make a person become more creative to find additional income, it can be started by opening a business that does not require a large capital such as online hobby business.

If we can pay consumer debt that we have, which usually quite large, it is actually without you realized, you have a great ability to invest and achieve your financial goals in the future.

And if you can live happy free from debt, why should you owe?

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