Month End: November Snapshot


I have so much to be thankful for this year. Out of all the things I’m thankful for, I’m thankful for my wife, our home, and both sides of our family. Looking back on how this year started, I didn’t know I’d be at this place. Thank God for my loving family and my close friend Joe. This month I applied more toward the Capital One card, and next month I decided to take a rest from aggressive debt reduction. I may or may not take a break next year. This year I want to be able to have money to use towards Christmas and have a little extra money in my checking account to remind me of the time before I was in debt. It’s important to be able to rest, reflect, and appreciate how far you’ve come.

Last month one of my Barclay’s credit cards was bought by Mercury, and so my balance was transferred to a Mercury Credit Card. I had to create a new username and password and re-adjust the information in my budget. With that transfer, and my excellent payment history, my credit limit was increased. A credit card company will increase your limit in order to tempt you to start using the card. A credit card company must send you a notice if any type of information is being changed. When information is changing, I look for two things: an annual fee, and my new interest rate. Even with my credit limit increase, I’m continuing to pay this balance, and not adding anymore new debt. One of the mistakes I made while reducing my debt again was looking for balance transfer offers, and loans to consolidate credit card debt. I think you should use a balance transfer or consolidation loan only if you have the self-discipline to not add balances back on the cards you pay to zero. Even if that means you must cut up the cards, store them away, or give them to someone you trust, stay focused on becoming debt free. I made the mistake of doing a balance transfer and not committing to bringing the balance to zero before the promotional rate ended. I had consolidation loans but would also re-use the cards. Having a consolidation loan and using the cards again reduced my cash flow (cash I had to live on after expenses are paid) and increased my debt to income (a ratio that for creditors can play a factor in granting increases in credit or new credit). Only use a balance transfer option if you have ability to pay the balance off before the promotional rate ends, and if you can commit to your debt reduction strategy.

This year is different. Often people will say it’ll be different this time, and then end up doing the opposite. Why is this year different? For me it’s because of small consistent steps, and emotional support that’s really helping me succeed. For me it’s about faith, a mission and a vision. Your journey to a debt free me is different than mine, but if I’m getting closer to being there, then take one more step with me. You can do it.

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.

This month’s video is The BEST ADVICE you’ll Ever Hear! Will Smith from the Video Advice YouTube channel.

“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.”
‭‭‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬

Deuteronomy28:12 NLT‬‬
‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬

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

I believe in your journey to….

A Debt Free Me


Advertisements

Month End: March Snapshot


This month I began creating and implementing a system in my new role. I’m enjoying this role, because it’s taking the existing skills that I have, improving on those skills, and learning new skills all for fulfilling the vision of my workplace in 2017. This new role is also enjoyable because I must be creative. I honestly don’t know if I could be able to handle this pace of life if it wasn’t for the help of the Lord and my darling wife. I’m very thankful that when I come home at night, I have a meal ready to eat. I’m going to work early and leaving late at night. I remember a time when it was a struggle for me to get to work on time, whereas now I really have no choice due to where I live and the commute I must take to get to work. It’s a longer commute time, which some would think of as uncomfortable, but I look at it as an opportunity to improve on a work habit. The extra time I have early in the morning allows me to prepare my mind mentally for the day, and staying late, allows me to finish what I need to finish or just relax my mind to close the day.

It’s important to take every storm as an opportunity to look for and seek the end of the storm. The truth is every storm has an end, and that there is a plan and a purpose in every storm. Next month, I’m going to use a balance transfer to assist in covering living expenses. My wife has decided to take her licensing test next month vs. this month, and I completely encouraged her to do it. I’d rather she be comfortable and pass the test the first time, rather than run the risk of failing it. We’re also pursuing in applying for a personal line of credit for her to assist in consolidating her debt. It’s important to get credit when you don’t need it, because if you try to get it when you do need it, then it may be too late. Use the lower interest rate payments to save money and payoff consumer debt faster. One of my associates in my organization sold one of his first combined policies, and I’m very excited at his level of enthusiasm, and look forward to helping him achieve his goals. My goal for the year is to become a better communicator and so far, I’ve been face with numerous opportunities to develop this skill.

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.”
‭‭Deuteronomy28:12NLT‬‬
http://bible.com/116/deu.28.12.nlt
‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬

I believe in your journey to….

A Debt Free Me

Here’s this month’s video: Be Powerful –motivational speech video – T.D. Jakes from the Motiversity YouTube channel.

Month End: November Snapshot


I’m thankful to see the end of this month, because it’s two more months until I get to say I do to the love of my life. This year has been challenging to say the least, and I’m very blessed and thankful that I’ve could consolidate debt and at the same time use balance transfers to my advantage. I’m thankful to have a job that is allowing me to stick to my debt reduction plan, and the fact that I have a plan in place. I’m also thankful for the assets I’m building over time and the income they will produce. The other side of this situation is I have a supporting relationship that encourages me and my spirit when I get discouraged. Don’t do life alone. Find someone you can openly speak with your finances about, and have someone encourage you to stay committed to your debt reduction plan.

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.

The rich ruleth over the poor, and the borrower is servant to the lender.
https://bible.com/1/pro.22.7.kjv

I believe in your journey to….

A Debt Free Me