I will keep this post short and sweet to give it more effect. A lot of people who are in debt, don;t even know they have a problem. They think the debt is either manageable or that someday they will hit it big and be able to pay everything off in one shot. My advice to you is:

WRITE DOWN EVERYTHING YOU OWE!!!

When I was at my deepest debt pool, I didn't even know how deep the water was in this pool of hopelessness. I had signed up for this website, Iwon.com, in which they give away $10,000 once a day to random members of the site. I was thinking, "damn if they pick me, I'm paying everything off and starting fresh." Going over the numbers in my head, I realized that $10K would not even get my back to zero, I would still be in the hole by a couple of G's. It just hit me square in the face, like a bully at the playground, "a $10,000 jackpot is not enough for me." You can either let this break you, or fight back against your own foolishness.

I wrote down every debt I had, and where the money from my last paycheck was going. I was spending so much money on hanging out, clothes, Discmen, TV's and other crap that would have no value in a few years, and I was paying minimums on my credit cards. I was under the impression that paying the minimum would help build my credit and help em get what I really wanted later....MORE CREDIT :) I stopped hanging out, got a second job, got a 3rd job and put all my extra money towards paying off debt. I'll save the strategy for another post.

WRITE DOWN WHAT YOU OWE and you might just be surprised by what you see. Absorb it, look at it....accept it. Don't let it get you down, come up with a plan (I'll try to help with that in my next post), and get yourself out. Don't just keep going down the road your going and "hope for the best", hope and $1.50 won't even get you on the train in NY. Get proactive and righteous with your finances, its your money, don't just give it away!!

Thanks for Reading

I Love you baby

3 comments:

  1. Sistah Ant said...

    it was a good solid look at my list of debts and the amount owed that snapped me into getting rid of it as best i could. i'm still on that road, but it started with looking at the truth.

    this is excellent advice!  

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