1) Count your blessings: Close your eyes. Within 2 blocks of you, there is a family living off of sixty-five percent of your income right now. It’s a statistical miracle if there isn’t. HHow do they do it? Think debt solutions…take just a small piece of that, ten percent, and devote it towards an emergency slush fund. This will help you out during a rainy day.
Be extremely diligent about this. When each check comes, take out ten percent and put it in a savings account. Don’t make excuses!
2) Wants vs Needs: Make a long list with two columns. One titled WANTS, and the other titled NEEDS. Living in America and searching for debt solutions comes with a distinct problem. We are spoiled. We came on the heels of a golden generation that saw a boom economy, and now we are living in a bust. So making this determination takes a fair bit of realism. Do you want a three bedroom, or do you need one? Do you want a hot tub or do you need one?
3) Return policy: If you bought something with credit or you rent to own, now is the time to save yourself. Return it. Yes, I know that couch looks stunning next to the fireplace, but it needs to go.
4) Selling. If you own something valuable, sell it now. Don’t ask question or have regrets. Just sell it. If your car is nice, sell that. Buy a used car.
5) Stop budgeting in your head. Just stop it. Tools like Mint and other online financial planning software are out there for free so USE THEM.
6) Get out of your car lease. Yes it can be done. Lease exchanges exist as debt solutions for a reason. If you are paying more than a 120 dollars per month for your car, you are paying too much. There are very reliable late 90s civics available for that price, go onto a lease exchange and find one.
7) Move into a smaller space. Make do.
8) Stay positive. This is very hard to do but you would be surprised to know that some of the world’s poorest people rate the highest on the happiness index. It’s a way of living life in the moment and not worrying about the future. It’s not easy, but you have to keep living and enjoying the simple things.
Follow these simple meditations on debt solutions and find success!
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