Pursuit of Excellence

I’m thankful that this month is coming to an end. To be honest, I hit a place toward the end of the month, where I became genuinely depressed. You’ll run into these moments where you will want to give up. In those moments, I hope you understand that there are options. When it comes to debt, you do have options. You can either contact your creditors to negotiate your debt, or file bankruptcy.  Just remember that your life is precious, and your impact lasts beyond your lifetime. It requires knowing your financial situation and your budget.  Knowing your final bottom line number, will help determine if a debt repayment plan will help you or if bankruptcy is your best option. If you go down the road of bankruptcy, then I suggest having a plan for life after bankruptcy. It’s a clean slate whether you choose a chapter 7 or a chapter 13. In the end I suggest having a way to increase your personal savings and your disposable income. If you do, consider bankruptcy then I suggest doing your research and getting all the facts from a bankruptcy attorney.

Thankfully, because of my wife’s income, and my income, we’re both able to combine our income to accelerate our debt repayment plans and at the same time save income. Next year, I’ll start focusing on the lower balance of the Barclay’s card since it has the highest interest rate, but the smallest balance. My wife’s spare time business continues to do well, and as we slowly pay down our debt, we’re looking for ways to increase passive income. The one thing we can’t get back is time. If you can build a passive income generating asset, then do it today and let it work for you. As frustrated as I am, she reminded me that it took time to build up my level of debt and so it’s going to take time to pay it off too. No matter how frustrated you may become, stay the course and I believe in your journey.

If you want to learn more about how I’m increasing my income, while reducing debt or if you want to have someone to discuss your debt reduction strategy with, or if you need a financial check-up, contact me.

Also, learn more about how I use the self-lending principle through Mustard Seed in the mustard seed section.

“The LORD will send rain at the proper time from his rich treasury in the heavens and will bless all the work you do. You will lend to many nations, but you will never need to borrow from them.”

Deuteronomy 28:12 NLT

http://bible.com/116/deu.28.12.nlt

I believe in your journey to….

A Debt Free Me

Here’s this month’s video: YOU CAN ALSO BE GREAT” – Elon Musk Motivation – Motivational Video from the Mulligan Brothers YouTube channel.