Thought For The Day: Debt Free
Friday, November 21, 2008
Inspiration: “A hundred wagon loads of thoughts will not pay a single ounce of debt.” Italian Proverb
Be: (positive confession) I Am Debt Free.
Do: (first steps) Today, systematically reduce the amount you owe your creditors. Start by monitoring exactly where you are spending your money. Next identify and remove (where possible) the items/categories that don’t meet a legitimate need in your life. Begin by adding a fixed additional amount toward paying down the debt with the lowest amount owed, once that has been paid in full take the monthly amount you invested toward that bill each month and apply that to the next lowest amount on your list, then continue until you have paid off all your consumer debt. As a general rule apply this process to liabilities (things that do not increase in value) first and confer with an accountant or other tax expert before implementing it with assets (things that grow in value). Lastly, develop a plan for future spending (also known as a budget) that includes paying God (10%) and you (10%) first and allows you to live off of the remaining 80%.
Have: (making dreams reality) As I train myself to live within my means I may have less things but I will have more peace of mind.
Be, Do, and Have the Best Day of your Life! God Bless You!
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