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Permanently Taking Control of Bad Debt is Like Eating Green Salads
Credit cards are a silent killer. They are shiny and classy. They make you feel rich, and they carefully and seductively lead you into financial captivity.
Only 5% of Americans are “financially free”, and as if you didn’t know, financial captivity is the absolute opposite of financial freedom.
Financial freedom is waking up in the morning and thinking Gee, I’d like to go fishing. Yet as you guiltlessly run away to enjoy your hobby, your assets are still making money. It is being able to work because you want to, not because you have to.
But we’re not here to talk about fishing or even how the rich get richer. We are here, believe it or not, to talk about diet. That’s right diet.
The first step to your taking control of financial captivity and bad debt is to feed yourself the right financial diet.
Now hang in there with me. I’m making a point which will soon become clear. If you want bulging muscles and to get rid of your pot belly, what do you have to do? The answer is simple; eat healthy and exercise, right?
You must take in a steady diet of fresh whole foods and eliminate junk-food for a long period of time; perhaps even the rest of your life if you want the results to be lasting. You must also take certain action to build the muscle. Activities like regular exercise, weight training, and cardiovascular training.
Your financial situation isn’t any different.
The most common advice you will hear on this topic is to simply “cut up your cards and pay the most to the card with the highest interest rate.” This is true, and a good principal, but that advice alone is not enough to create lasting change.
If you are like most people, you hear this advice, but ultimately do nothing about it.
Saying “cut up your cards and pay more to the higher interest rate card” is like saying in the fitness world “eat right and exercise.”
It’s common sense and obviously good advice, but who actually does it. It’s saying a lot with out saying anything at all.
Most people start a diet or weight loss program after reading an article or book with very good advice on the topic only to fall flat on their face when they realize that it actually takes work and effort. This is because they neglected to feed themselves CONTINUOUSLY the right mental diet along with their physical diet.
This is why a single article is not enough to create the change you need. A weekend seminar alone is not enough to create a change in your finances or your weight.
How many times have you invested in a tape set that claims it will make you a millionaire and after you were done with the tapes you went back to your life and nothing had changed? Alone, the tapes were not enough, the same way one single healthy meal would not be enough to lose 20lbs of excess body fat.
You can not read one book or a few articles and expect to make a total financial transformation. You must feed yourself a financial diet everyday until you are financially free.
You MUST feed yourself the right mental diet continuously for a long period of time which ultimately creates the internal change needed. Creating an internal change will ultimately manifest itself with your desired external change.
Making any change takes a long time and hard effort too, particularly in the area of financial habits. Repetition will ensure that you actually learn what you’re feeding yourself. This will help guarantee your success.
For your first few meals I recommend you start by reading The Richest Man in Babylon by George S. Clason, Cash Flow Quadrant by Robert Kiyosaki, and Total Money Makeover by Dave Ramsey. These 3 books will give you a feast which will begin to give you the tools to start reducing debt and building financial success.
When your done reading these books seek out 3 more books, listen to tapes, and get all the advice you can. If you do this I promise you that you will suddenly find yourself coming out of debt and moving quickly into the direction of wealth and prosperity.
The secret to all success is in feeding yourself the right food CONSISTANTLY.
If you have read this far and are still saying to yourself; this author hasn’t given one bit of advice that’s going to change my bottom line right now, then you have missed the whole point of this article.
This is the most important advice you’ll ever get for making the right changes that lead you out of debt and into financial freedom.
Short term fixes are just that…Short Term.
This is the real thing. It’s a Long-term, permanent solution, to your “symptoms” of bad debt.
If you will find a steady stream of “good food” and slowly but permanently begin dripping it into your “body”, the outward changes will come almost magically. The debt will disappear, and the assets will begin to grow.
This is the foundation which you will build your financial freedom plan on.
But if you are still looking for some advice in this article, on specific actions you can take that will immediately help you get your bad debts under control,…
… I would recommend you cut up all your credit cards and start paying off the higher interest rate cards first.
About the Author: Dan Ostler is the owner of http://www.LeaseOptionHomeBuying.com. Dan is an author, speaker, business owner, investor, and one of the nations leading Lease Option Consultants. He has been offering housing solutions and consulting advice to families with credit issues in all parts of the country for the past 8 years, and welcomes all visitors to his website for tons of **FREE** Information.