Have you ever sat and wondered why it takes so long to get out of Loans that you get yourself into? The con is that most commercial loans are designed to keep the debtor in debt and paying a hefty sum of interest over the life of the loan. This is great as a profit method and for shareholders pocketbooks, but can hinder most borrowers’ financial advancement. It’s not in a bank or loan institution’s interest to show you the correct way of using a loan as leverage but also to minimize interest over the life of the loan. That’s exactly where you need to differ from anyone else. You need to become a savvy financial advisor to yourself. Who better to take financial advice from?
By arming yourself with sound financial advice is the best way to get out of debts such as loans or credit card debt. You must also know the prime reason that may have got you into these debts in the first place. Did your thinking at the time allow you to rush into a loan or debt? Was it a sound financial purchase that got you into this loan? Was it a matter of keeping up with the Jones’ or because you wanted the latest new toy. You must destroy this type of thinking in order to rid yourself of unnecessary debt. If you can’t pay cash for it and dignify if it’s a necessary purchase, then you should definitely question whether you really want to take out any debt for that purchase. It’s possibly not a very good idea.
Another way of getting rid of pre-existing loans is to take a personal finance class if you haven’t already. This will help you to become a better steward with your money. The financial advice in these courses is usually gold and you will just about always be able to take away some nugget of gold from this. Educate yourself on building wealth rather than debt and you will always have a strong foundation to stand on.
The next secret to getting rid of loans and debt is to pay a little more than your scheduled payment. Example, if your loan payment is $300 per month, put a little more than you can afford on it like $30 – $50 more or as much as you can afford. Also, forgo some other little luxury and build up a lump sum payment to apply to your debt. Even if it’s spare change, you need to build at least a lump sum to apply each and every month. Some people think you need hundreds or even thousands in order to make to a lump sum payment. This simply is not true. Anything over $50 is game. If you can, apply this payment in the middle of your loan cycle – like the middle of the month or early. Here is the show stopper, tell the loan officer or specify that this payment must go towards the Principal or Unscheduled payments and not towards your normal loan payment.
By sticking with this behavior, you will cut down significantly on the life the loan as well save yourself a lot of money on interest payments. Another less known method of destroying loans is to slip in the equivalent of one months loan payment into the life of the loan annually (if the loan is longer than a year). This will allow you to effectively make 13 ‘normal’, scheduled loan payments instead of the usual 12 payments for the year. Remember these methods are cumulative and should be combined to really cut down on your debt.
I hope by reading this post that it will really teach you the methods that I have used myself to rid of unnecessary debt in my own life. If you really liked this post, you should subscribe to my RSS feed. Also, if you haven’t yet obtained my FREE report of Golden Nuggets, 25 Absolute steps to Financial Freedom, you can grab a copy by clicking the ‘Get Report’ button below. Look forward to your comments on this post as well.
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Believe it or not but you were born with an intuition that comes in the form of a little voice from within. Many call this your conscience, some call it your inner guidance system, but it is what you need to listen to it and discern to make a good judgement call if you act against it.
Of course it isn’t easy to listen to that inner voice because it often tells you all sorts of things that confuse you rather than clear your brain for single-minded action. In fact our mind talk can be super destructive. We evaluate what we think has happened to us and we put our own spin onto it.
It means we often go off on a tangent because of our misconceptions. When this happens to us we wonder whether we should ever listen to that inner voice. It’s been wrong so often. But it is not the voice that tells us how bad we are doing, or how dreadful life is, or how awful people are towards us that is your inner guidance system.
The self talk you hear every day is just your reactions to external happenings in life. You wonder whether the person who just rudely bumped into you had it in for you. They might not have seen you at all, maybe it was an accident. Your inner voice has a whole different story attached to that occurrence.
You think that you are having an unlucky day because you missed every train and bus and got to work late. You forgot you got up half an hour late because you overslept. These are all reactions you have to what happens in your life on a daily basis. Our self talk is sometimes so loud we can’t hear anything else anymore.
When your inner guidance kicks in is when your instinct tells you to take an option over another, just because you feel it is the right choice. It doesn’t come because you imagine your mother telling you what to do, or because you think you can’t do anything else and therefore have no choice.
Your inner guidance system is also what warns you that you are not living your life according to your life’s purpose. It constantly gives off a warning signal. That could be just a feeling of unease to a full throttle, braking sound.
Have you ever had a warning signal go off for you? A feeling of uneasiness comes about if your job isn’t quite the right thing and you are not sure whether you shouldn’t think of changing the company you are working for.
Your inner guidance or inner voice system can pass on many signals without you understanding them. Mostly you miss the message because you are not aware that what your life is like is not according to your true inner purpose.
When you find your inner purpose and start to follow it you will be amazed at how differently you feel, how ready you are to embrace all of your life’s ups and downs. It’s all a breeze.
When you’re not on purpose then everything becomes an issue. This is especially true the older you get. You find that you are less able to cope with the hurdles life throws in your way.
Usually, you will find that when you listen to that inner voice within, it’s usually right more times than it is wrong. You can also find your life meaning by exploring what it is that you were really meant to do through your intuitions. If you enjoyed this post, let’s discuss. Post a comment below.
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Have you been searching or do you really know your Personal Life Purpose? So many of us just coast through life like sands through an hour glass. There is more to you than that. This is why it is equally important on the things that would make us live a very meaningful and abundant life. With things being more hectic in this life than even our ancestors, it’s important to put things in perspective.
You will wonder how to find it. It’s been passing you by for many years. What will enable you to find it now? Some effort will be required, that’s for sure, but above all else you will need to stop being afraid.
One of the most common thoughts that will crop up as you try and find your own purpose is the statement that you can’t do that. You can’t leave your job, you can’t study again in fact you can’t leave the life you are living right now.
That is a perfectly normal way to think. Your life is a series of instances where you have to weigh up your options. You have to decide many times whether you should take the safe route or whether you should put yourself at risk.
As a young person you are more inclined to take the risk option. Leaving home to go to college in another State seems like a fun thing to do. It involves stepping out of your comfort zone as you have to leave your support system behind. It’s an adventure though when you are young.
That is not that easy to do as you grow older. Everything you surround yourself with is important in that it makes you feel secure and safe. You have the same friends, you take the same route to work, you spend your evenings at the pub down the road, you go on vacation to the same seaside resort.
Yet this very sameness lulls you into a false sense of security and seduces you into thinking that this is the ideal life. It therefore surprises you when you feel that bit of dissatisfaction within. Where did that come from you wonder? After all you are so lucky to have this wonderful life especially in comparison to how many people have to live.
This way of cocooning yourself is what makes it so difficult to work out what your life purpose is. You know instinctively that whatever it is, will require you to change if you want to follow your purpose. Things will not be the same again.
From a young age society has conditioned you to take the safe route. Go to school, do well so that you can go to college, get a safe qualification so you can be an accountant, lawyer, doctor or teacher and find a stable job because this will take care of you for the rest of your life.
The thought of leaving this comfort zone behind and trying to establish what you really would like to do is very frightening. Finding the courage to explore what your life purpose is could be is the first step towards finding your passion for life.
You must expand on this safe or comfort zone or it will continue to constrict your life allowing you to live the ‘safe’ yet not totally fulfilling life that you want. You want to ultimately make those changes that you know you are capable of metamorphosis into the person that you always know you could be.
If you enjoyed this post, let’s discuss. Post a comment below.
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