#MoneyHack No.8 | Demolish the Debt.
All my money mentors over the years including Suze Orman, Tony Robbins, Gail Vaz-Oxlade, Dave Ramsey, Napoleon Hill , and Robert Kiyosaki all agree, paying off debt is a priority to establishing a healthy financial environment for you and your family.
Here are my top three reasons to obliterate your debt-load:
1. Eliminate the stress and anxiety
2. Save tens of thousands of dollars in interest expenses
3. Make hundreds of thousands of dollars on the interest saved by investing it in the right vehicles.
So where to start? You need to first recognize why you continue to choose to keep yourself in debt. This is why I'm not a huge fan of consolidating debt, by the way. It doesn't address the root of the problem.
Being in debt is a choice you've made,. It may sound harsh. But it's true.
In my experience, the #Martyr, #Victim, #Innocent, and #Fool are typically the money types who are sabotaging your success. Each money type will choose to keep themselves in deck for different reasons.
If you want to see which money types this keeping you in debt, take the quiz in my bio, and then give me a call. I can walk you through your results.
If you can’t do it for yourself, please do it for your family. I suspect that if we were to build a money tree together, you would see your family has been living in debt, or scarcity, for generations. It is up to you to break the cycle.
Take the Quiz!