Handling Debt

Everyone has it, in some way or form. You either can own the bank money, someone else money or a whole bunch of people money. And the simple fact of the matter is, debt is far from fun. It increases heart pressure, anxiety and has lead some people down very different paths of who they once were.

Avoiding Debt is like trying to run away from a pack of wolves, you might be able to run for a long time, but eventually you will run out of money that fuels the run.

Now you have three different ways to get away from the wolves: avoidance, acceptance , or ability to overcome.

Now avoidance is probably the one that is most common, myself included. This way is to pay only miniums on all the things you owe on. Visa cards, loans or anything has requires only a minimum payment to continue on to another month. Most people that pick this way are usually not in a good place, living paycheque to paycheque, and looking for the future when they make more money to pay off more things.

Acceptence is the worst of the choices, that is called bankruptcy, the filing of having not enough to even pay the minimums. Plain and simple, kill all assets and start over.

Now the ability to overcome is the most important and best choice if you don’t want to leave it for the future. This plan is only for the people who have a bit of extra money every month to be able to do this successfully. Building a budget doesn’t have to be super confusing, and the only way to get out of debt is to not to focus on everything and over complicate it. Its plan and simple:

Buying prepaid cards at all the places you go for expenses every month, choosing one grocery store or market helps with this. Then you plan out what the bare minimum is to survive, making that the value of your prepaid cards. The rest of the money you direct to the debt you owe! Once every two weeks you get to buy something with cash that is outside your budget and under 30 dollars. Do this till you are debt free.

Simple way to get out of debt:

— buy pre-paid cards at all the places you shop but restrict to the minimum to survive each month

— Reward yourself every two weeks on something that is less than $30 dollars

— Direct all other money to your debt

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