10 Fast Moves Out of Debt

Debt s not a pace one woud ove to vst and stay. Debt can have such a grp on your
fe such that movement s neary mpossbe. I have been there and have come out.
You enter nto debt as soon as you receve someone's goods and servces wthout
payng. You become a debtor. Most peope have been debtors at some pont or the
other n fe and n busness. What dhers s the speed of payng up the owng (debt).
Some w do t wthn days of devery of goods and servces whe others w choose
to deay and pay at a ater stage.
Ths can however become a way of fe where one accumuates debt whe en|oyng
the servces and goods beng ordered. In some parts of the word, t s easy to buy
goods and access servces on credt terms. They w entce you to beeve that s
better cash ow management to get products and not pay for them nstanty but over
a perod of tme.
Hdden n that agreement s the fact that you end up payng more for the tem than
you woud have pad f you used cash due to nterest charges. It s very temptng to be
n debt. You can get ths magnaton that "I can get a I want now and not even pay a
doar for t". The truth s you w st pay for the tems regardess of the fact that by
the tme the demand s paced for the payment you probaby have thrown away the
cothes you got or the tems are now so outdated you actuay want to repace them
wth more debt. It can be an endess cyce where one w smpy ve and work to
reduce debt. |ust how does one move out of ths frenzy. Here are a few steps that
worked for me
The Moves
1. Identify why you are in debt - Causes - Unt you dentfy how and why you are
n debt you w ether not come out or when you come out someday, you w qucky
dve back nto t. Are you there because you are mpusve; are you there because you
have an mage to protect? Why are you n debt? To know the cause of a dsease s
more mportant n the cure of the dsease than admnsterng pan kers whch are
merey temporary hts on symptoms not on the root cause. Take responsbty and
ownershp of your stuaton. or ese you w be a fu tme bame-shfter fu of debt.
2. Live within your means - sometmes you ook around at peope n the same
ndustry or tte or former coege mates and you |ust want to catch up reay fast. That
w cause you to want to own what you cannot ahord |ust because you want to appear
to be makng progress. The truth s when you go home and you are now wth your
famy, t's you who faces the heat of a oan or debt you have attracted to yoursef. You
may occupy a good pace n the hearts of your frends and yet your own famy sees a
great amount of pan from your rresponsbe moves. The nterestng thng s ths:
when you are n debt and you cover up, you even hep your frends who may be n
nanca crss wth money |ust because you want good ratngs whe you actuay
deprve the one you genuney owe. Ths s rea, I have done t and I know I may not be
the ony one. You can own anythng you want to own to the degree of your nanca
dscpne and consstency n handng nances.
3. Own all you have - The hook of credt s covered neaty by the mmnent
convenence and benets of "staggered payments". If you can ahord the repayments
and you are consstent wth your repayments then you are not the debtor I am
dscussng n ths artce. There s peace that comes wth knowng that the house you
ve n and cars your have are actuay n your name and not the bank's name. I have
watched wth great sadness the ehects of the recent goba crss n our neghborng
naton of South Afrca where ownng a car or house was easy as ong as you were
empoyed. Repossessons became the core busness of banks as peope faed to repay
oans. Peope ran away from ther own houses n Amerca due to the crunch. But not n
Zmbabwe and other parts of the word where you needed the fu payment n cash
before you were deemed the owner. Ths crunch was not fet as much even though the
economy had been sdng for over 10 years. Prncpe s that you do not ca yoursef
the owner unt the tem s n your name. Before that you are merey a steward.
4. Come u with a well thou!ht and well resear"hed lan very fast - #ollow it
"losely - Sometmes the person n debt may have a good pan on what woud get
hm/her out. A bankabe pan whch can work anytme of the day. However, prde and
fear of how peope w perceve you can cause you to throw away every pan you
creatvey create. Snce you are n debt there s no need to try and mantan a fase
mpresson. Your reputaton s aready at stake anyway. It s better for coeagues to
augh at you for a season whe you actvey sort your mess out than to reman
perpetuay n bondage whe havng to nd creatve cover up strateges. Be rea, face
your debt wth a pan and work on t. Peope can ony assst someone who s dong
somethng about ther stuaton.
$. Choose not to be "omfortable with debt - Refuse t and make the reevant
strdes out. It s easy to gve up and condemn yoursef. It s even worse when you
deveop mechansms to be make you comfortabe wth debt. You are not meant
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