10 Days to Financial Freedom | The Easy eCourse
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Being in debt can be a stressful experience. Worse yet, it’s a way of life for many. If you’re looking to break free of debt and start living the life you’ve always known was possible, you’ve come to the right place.
Regardless of your circumstances, debts must be paid back. Bankruptcy is an option for some, but it is a bad option to begin with. It’s completely possible to get your life back on track, but it’s going to take a little bit of effort and a lot of self-belief.
1. Evaluate your Financial Situation
The most critical step in your financial situation is to understand the whole picture. Take time to sit down and look at your finances to map your long term direction in life. You CAN change everything in the blink of an eye. However, don’t be fooled by the get out of debt quick schemes. Its going to take hard work and most importantly a CHANGE IN YOUR HABITS.
By getting perspective over your situation, you can start to overcome financial troubles. This is the first step for a reason: You need to understand where you are, where you’re going and where you’d prefer to be.
2. Get Copies of your Credit Reports
This one should go without saying, but it’s worth reminding everyone reading that credit and debt are huge factors in financial success. Some entrepreneurs are a small loan away from financial freedom while others don’t have the vision or skills they need to succeed yet.
I personally use TransUnion to monitor and track my Credit Reports on a monthly basis. As a customer and an TransUnion affiliate I have access to a special discount this includes a $10 discount on score watch if you wanted to add that feature. Check out TransUnion for a special offer for Unlimited Access to TransUnion® Credit Score & Report. Now $9.95/Month!
For a low monthly fee, MyFICO.com provides extensive details on your credit score including: credit trends, quarterly reports, a score simulator, and more!
Most importantly, this gives your scores from all three credit bureaus, so you won’t be in the dark about anything. Signup is easy and consists of the following:
In both cases, these people are better off having their credit history available to them to better understand both their situation and where they fall. Financial success is all about having the numbers in your favor, so you may as well have the numbers to work with.
3. Identify your Starting Point
Where do you begin? What is square one for you personally? The biggest issue most people encounter is that they’re so caught up in what it takes to succeed financially that they try to do things by the book. This is a huge mistake, because there is no book that perfectly describes your life.
Financial success is very personal and often quite private, so you’re going to need to find the place to begin that works best for you. If you make some mistakes, that’s perfectly normal, but you’re going to need to keep adjusting along the way.
4. Set your Financial Priorities
Priority itself is a priority. The first thing that you should be doing in regards to your finances is to first recognize that some things are absolutely undebatable; they must be covered. Beyond that point, some expenses are “on the clock,” and time is ticking until the are due.
Finally, there are expenses that are not truly needed, and this is the easiest place to cut expenses and start getting some financial leverage.
5. Set your Spending Plan by creating Goals
A goal is just something to aim for. There could be a thousand expenses that spontaneously pop up, but it is far more important to be working with a map than trying to predict the future.
Having a spending plan is easy as working with the numbers you have available, the price of a better life and the types of milestones you’d need to reach to bridge the gap between your current situation and the better life you know you could achieve.
6. Reduce Debt while being Smart about Credit
Debt is a negative, failing investment. People toy with the stock market for a fractional percentage of what most interest on debt is these days, yet the stock market has a tendency of making those people quite wealthy.
In most cases, debt is the opposite of an investment. The only time it’s a successful investment is when it’s for either an emergency or to swing yourself into a better financial situation. Building credit is another story and doesn’t require debt, but that’s a different topic for another day.
Get a Free Debt Relief Quote to Jump-Start your Debt Consolidation
Or you can get a Free Debt Relief Quote from National Debt Relief. National Debt Relief is a leading debt negotiation company. They negotiate with your creditors to get a reduction of your outstanding credit card balances. They get your creditors to agree to a lump sum payoff amount and they will forgive the rest of your balance.
It’s better to have the debts off the record than for them to stay there indefinitely.
7. Make Smart Decisions about Debt Consolidation
Debt consolidation can be a great choice for financial freedom, but it is not the ideal route for a credit score. Most debt consolidation programs mark debts as clear but “not paid in full,” which is less-than-ideal for a strong credit score.
Using debt consolidation is a great way to become debt free, and many resources are available to help you. Furthermore, you can also work with your financial institution to combine your loans into a single loan with a lower interest rate.
If you need a Debt Consultation, I highly recommend working with CuraDebt for a Free Business Debt Consultation. Also, as part of the enrollment process, one of there trained Credit Specialists will review your credit reports and provide a consultation.
Curadebt will work with as little as $5,000 in debt in certain circumstances, so if you have a smaller amount of debt, it might be worth a look. Incorporated in 2000, CuraDebt is also one of the more established debt-consolidation companies.
Using experience they create and mail a custom dispute letter to each of the 3 major credit bureaus disputing up to 45 individual items.
8. Save for your Goals
Your goals and your dream life are the most important elements of financial success. It’s easy to be happy in the moment and appreciative of the gift of life, but none of that matters if you sense that you’re failing your true potential.
The best way to invest money is into yourself and your ideal living conditions. All other expenses are often distractions, and doubling down on investments towards what you truly desire from life is the path often taken by those that achieve their dreams.
9. 30 Things you can do to Save Money
Expenses are Not Always Fixed
This section is all about recognizing that some elements of what we spend are not at all necessary. By following these tips, anyone can stretch their dollar a little bit farther.
- See if there’s a less expensive way to travel.
- Shop wholesale whenever possible.
- Look for the most efficient discounts you can find.
- Become comfortable with the least expensive meals you can find.
- Cut out any monthly bills that don’t serve your success.
- Stop paying the tab for your friends and family and suggest they become more financially responsible.
- Use debt as sparingly as possible to avoid paying interest.
- Sell the things you aren’t using or don’t really need and reinvest in yourself.
- Try to find less expensive alternatives to the stores you normally shop in.
- Always shop around.
Some Expenses are Connected
This section is all about the little things we often don’t realize are connected that end up costing us a huge amount of money.
- Eat healthy and spend less on health care.
- Stop going to the gym and start jogging to the park.
- Your job might be costing you a ton of money, get a different job.
- If it’s too hard to live where you live, relocate.
- Maybe your savings aren’t enough, consider moving to a foreign country with great exchange rates.
- If your car keeps breaking, trade it in or ride a bike whenever possible.
- Keep things safe instead of buying replacements.
- Buy quality products when they’re worth the money instead of buying what’s cheap.
- Plan your week better so you don’t need to make sudden trips or double back to the same store twice.
- Try to recognize expenses in your life that are connected and see if you can’t remove both of them in one shot.
Time is Money
This section is all about reinvesting into yourself by cutting out the junk that clogs up your time. Also, it includes helpful tips to move into a positive mindset, because your thoughts are one of the most important aspects of your future success.
- Stop watching TV and “killing time.”
- Recognize and eliminate common distractions.
- Focus to the best of your ability.
- Remember what you’re working for.
- Realize negative thoughts that stop you from progressing.
- Push yourself until you’ve reached your peak performance.
- Believe in yourself at all times.
- Organize your surroundings to help you succeed.
- Surround yourself with the most successful minds you can find.
- Keep the vision alive and stay motivated.
10. Maximize Retirement
Most people aren’t thinking about their retirement years, but simple efforts to have money or assets in place can go an extremely long way. By investing smarter, you could potentially retire in just five short years.
Therefore, by focusing on the smartest ways to operate, you could easily retire on far less than the average person and still live with a higher quality of life. Maximizing retirement is all about squeezing as much life out of your golden years as much as possible. It’s better to start doing your best right now instead of waiting years or decades for smooth sailing.