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How To Become Debt Free!
Your Large Purchases Account
Your things are valuable: be thoughtful in their purchase. In addition to your spending accounts for daily living, you should have an account for large purchases. The nice thing about this account is that when used properly this account will help attract more money to you.
With your large purchases account you will start small. The goal here is to spend all the money in this account. This account works best when used with a fancy ledger, one with gold trim would be great. Keep track of your deposits in the ledger and when you have enough money it’s time to go shopping. You are not going to take the money, you are going to take the ledger.
Go to an area where there are shops you like, close your eyes, spin around three times and start walking. You must buy something that you really want and find valuable. It must be less than the amount in your large purchases account. If you find something you really want and it’s more than what is in the account, remember the “What’s the price?’ exercise. Try and negotiate the price down. Be sure you’re including any tax you’ll have to pay. If you can’t get the price down then walk away.
When you find what you want to buy, you tell the sales clerk, “I want to purchase this. I have the money for it in my large purchases account. I will be back for it in a week. Will you hold it for me?” When they say yes you leave and come back in a week with the money and buy it.
What you will find when you do this is that between the time you leave the store and return for your purchase, the amount of money you need will come to you from an unexpected source. If it doesn’t happen for a time or two keep with it. Keep the amount the same and try the process again. When the money comes to you before you return for the purchase, it’s time to increase the amount and start all over again. Allow the universe to bring prosperity to you and you will live with ever increasing abundance. Always keep your thoughts open for the money to come to you.
Live Debt Free
If you have debt, get rid of it as quickly as possible. Let’s be honest; like cholesterol, there is good debt and bad debt. For most people a mortgage is an important part of buying a first home. A car loan may be necessary if you need one to get to work. If there’s a medical emergency, taking on debt is a necessity. But going out to that extra special restaurant is not urgent. Buying that sweater because it’s on sale when you have ten others at home is bad debt. Here’s a good rule: If you leave home without knowing you’re going to buy it and you come home and it’s on your credit card, it’s bad debt.
The burden of debt is one of the greatest energy destroying emotions that exists in modern life. If you have debt, ask yourself: Why? List your debts and immediately put together a plan to eliminate them. There is power in just completing a debt reduction plan. You will feel as if you have defeated the biggest monster in the kingdom.
For many people paying off old debt is more important than starting an investment account. But you should still start one, just fund it very sparsely. Use the percentages to your favor. If your debt is costing you 22% and your investment would make you 16% put all but a token into paying off your debt. If the debt is costing you 0% and your investment is making 16% you should put more into your investment.
Even if your debt costs you nothing in interest, it still takes a heavy emotional toll. Just like when you went back into your money memories to cleanse and free your spirit you must free yourself of your financial past. It is like trying to run a hundred meter dash with a ball and chain clamped to your ankle. Yeah, you’ll make it but you will be slowed down every step of the way.
Hey! No new debt! It doesn’t help to pay it off if you just run it up again. Get yourself an ATM card with a Visa or MasterCard logo on it and it will do everything a credit card can do. EXCEPT GET YOU INTO DEBT!
Attracting More Money Easily
Are you ready to easily attract more money? Of course you are! Well get ready to have a mind expanding experience. You’re about to think of more fun and easy ways to make money than you thought possible.
While this exercise works best in a small group, because of the power of group brainstorming, you can do this by yourself and get great results. Get ten to twenty small colored pieces of paper. Write down things you enjoy doing, one per piece of paper.
When you’re out of ideas or out of paper, place the pieces of paper upside down on a table. Turn one over and write as many ideas as you can for making money doing that idea. You get one point for each idea. You get the best results when you allow your mind to run free and uncensored. Don’t worry about whether or not you’d actually do your idea just try to get as many points as possible. When you’re out of ideas for the first piece of paper, move on to round two.
In round two you turn over two pieces of paper and write down as many ideas for making money using both of your ideas. In this round you get two points per idea. When your out of ideas proceed on to round three where you turn over three pieces of paper, and write down ideas using all three thing you enjoy doing. Yes, you get three points per idea.
If you do this in a small group the ideas will be synergistic and the person with the most points wins. If you’re doing this by yourself your ideas should include several things that you had not thought about before. Most likely your list will include two or three ideas that really seem like they would work. They would be ideas that would be fun for you and would make you money too. Once you have reached you goal you’ll realize that money can always come to you in fun and easy ways. Work doesn’t have to be work anymore.
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