Debt Free Living in one easy step

Many times I get questions about debt free living and how I started and why I keep preaching it every day.

Well, the answer’s real easy and I’m going to remind you and give you one easy step to debt free living and really, a wonderful peace of mind feeling when you adapt one minor change to your attitude about debt.

Let me explain. None of us learned how to manage our finances in school. There’s nothing in high school, middle school, or college explaining how you should manage your personal finances. In fact, I’ll bet your parents didn’t advise you either.

Think for a moment about who has been advising you on your finances. Think again. Give up? I’ll tell you. The newspapers, magazines, television, cable, billboards, and letters received in the mail are the culprits.

Those folks have been advising you to manage your finances through debt. And the debt these culprits have been suggesting you live by is all financed by them. Who is them? The big banks and finance companies have been advising you to go into debt up to your eyeballs so they can make money off you in the form of interest payments you pay them each and every month.

Why do you think the banks encourage you to make the minimum monthly payment? So you can get used to making a payment to them each and every month, month in and month out for the rest of your life.

The basic problem you have with your finances is not your fault. Because you (and I) never learned this stuff from our parents, friends, and family (or even school) we’ve allowed the big banks to take over teaching us bad habits.

This is why you hear me talk about the 80/20 rule so much. The 80% percent crowd (which you fall into and I used to fall into) believes everything they’ve learned. And everything they’ve learned is from the big banks and finance companies who are out to fleece you.

These guys want your money. These guys tell you things like “you deserve it now” why wait and make offers to you that sound too good to be true. And because you only know what you’ve learned like the other 80% percent crowd you get sucked into an ugly situation and by the time you realize what happened to you the big banks are now hounding you to either borrow more or pay more in interest payments.

Slowly the banks raise minimum payments raise your credit card limits and encourage you to spend more and borrower more until you wake up one day and are totally trapped by these scoundrels.

There is a better way. There is a way to tell the banks to “SHOVE-IT” and to become one of the minorities in this country, in fact, one of the 20% percenters who have more than enough money; saved money and can pretty much buy whatever they want.

You can have everything you’d like if you make one minor, easy, change.

I call it the easy one step to a better life, to freedom, to better relationships with your spouse, friends, family, kids, etcetera.

Next time we’ll talk about how to make the easy step to debt free living.

David…