The Consequences of Debt: LIMITS

This week, as the content of this series on "The Consequences of Debt", we have looked at STRESS, DIVORCE and HOPELESSNESS. Today, we will look at the "LIMITS" that we have put on our own lives when we allow ourselves to be burdened by debt.

Sometimes, if we have been living under the burden of debt over the course of several years, we may not even realize how limited our life has become! It's really a sad commentary to realize that we have actually become "numb" to the negative limitations that debt has put on our lives.

Here is a short list that I put together the other day when preparing for this episode. I'm sure you can come up with more ways that people can be limited by debt and I've love to hear some of your ideas on my Facebook page (link below).

    1. Buying a house or a car

    2. Christmas/birthday gifts
    3. Celebration events (anniversary, etc.)
    4. Vacations
    5. School Programs for your kids
    6. Better Living Situation (even rent!)
    7. Donating to Good Causes (Your Church / Other organizations)
    8. Helping OTHERS in need

Going back to some things I've discussed in previous articles in this series, too often there are those that have come to accept debt as a way of life...as something that cannot be prevented or resolved. HOW SAD!

Think about it - when we become so accustomed to the pain of being crushed under the burden of debt we go through life as if we are only "half alive". 

I've been in a situation before where we had to rely on other people to provide Christmas for our kids. I vowed at that time to NEVER allow that situation to ever be a part of my life again. It is painful to not be able to provide your kids Christmas gifts as well as birthday gifts or to not be able to allow them to participate in some programs at school because you don't have the money that is needed for the program. THAT HURTS! It's also very painful to not be able to do the same for your wife due to the same reason. Vacations become almost non-existent due to the lack of funds.

Maybe you have a heart to help others but you are LIMITED in what you are able to do because of the lack of funds. The lack of funds is often due to the money that is paid out monthly to pay your DEBT bills. 

Aren't you tired of living that way yet?

“Oh, I'm O.K...Yes, I have debt that I will be paying on for years into the future but, hey, I make enough $$ to cover the bills so, WHAT'S THE BIG DEAL?"

Really? Are you a FORTUNE TELLER or a PSYCHIC? Do you KNOW what your future holds? Do you KNOW that your job will be in place for you over the next five, ten or twenty years, if not more? Do you KNOW that there will not be any sort of medical situation in you or your family's life that will bring about some large medical bills? 

WHY PAY MORE MONEY than necessary in interest and continued payments? WHY in the world would ANYONE want to spend money that they do not need to spend? Why spend money on interest that you don't have to pay? Why continue to pay monthly payments that you don't need to pay? Oh, I'm not saying that you shouldn't pay back the debt that you owe BUT, why make monthly payments longer than necessary?

Why not get your DEBT paid off as quickly as possible, save tons of money in interest and reduce the amount of time that you are making monthly payments? THEN, why not invest that same money into something that will EARN interest (instead of you PAYING interest) and begin to create wealth for you and your family?

Yes, this IS possible! You CAN begin to actually LIVE LIFE instead of living a LIMITED LIFE but it does take planning and it definitely takes ACTION.

We'll discuss that in the next article, the conclusion of this series, entitled, "GET OUT NOW! (Make a Plan - Get Out of Debt)". Be sure to check out the link below that is labeled, "Live Debt Free" for my suggested solution. In the next article we will discuss other ways that may help you begin this journey OUT OF DEBT. 

Be sure to join me then and, until next time, whatever you do, be sure to...

"Make it an AWESOME day! (Who else is going to do it for you?)"

Mike

Future You University   FYU on Facebook!   Podcast on iTunes   Podcast RSS feed

YouTube   Live Debt Free!

Consequences of Debt: HOPELESSNESS

When you consider the lie that so many have chosen to believe as truth - "Debt is just a part of life. There's nothing you can do to prevent and there is nothing that you can do to resolve the problem." - then you can see how this can definitely lead to HOPELESSNESS. 

Debt IS a deep, dark hole that WILL suck you in AND suck the life right out of you! You MUST look at debt this way and understand this comparison to be accurate and TRUE! This is important because, until you DO understand how serious this problem really is, you will not do what you need to do to get OUT of this debt. 

Many people that deal with a debt problem don't want to admit there is a problem in the first place. "Hi, my name is _________ and I have debt!" Maybe that is what is needed! According to an article written by Bill Fay, many people go into DENIAL about their debt in the following ways: 

• Underestimating how much you owe.
• Not answering the phone when you suspect a collection agency is calling.
• Leaving bills unopened or just stuffing them in a drawer.
• Opening a new credit card when your old one is maxed out.
• Telling yourself that everyone is in the same situation.

Mr Fay goes on to say, " Such behavior just leads to more debt as interest charges and late fees pile up. But ignoring reality is a handy defense mechanism for the brain. It’s a way to rationalize mistakes and protect your ego. The problem is reality always sets in." 

My experience has been that, a lot of people aren't just in denial, they don't WANT to know how bad their debt problem really is. It's the "Ignorance is Bliss" mentality. But, as Mr. Fay points out, REALITY ALWAYS SETS IN and, friend, this is where HOPELESSNESS also sets in. 

The GOOD news is that we CAN fix this! "As long as there is breath, there is hope!" is a phrase that I coined back in 2009 and it certainly applies here. As long as you are alive and breathing, there IS hope regardless of how impossible it may seem. You have opportunity TODAY and every day that you draw a breath to "turn things around" in your life and in every area of your life. 

WARNING: This will not be quick and easy! But, friend, do not miss the point that it CAN be done.

I do have a solution for you. I've mentioned it before but want to make sure that I share a way out for you in this area of debt. Go to www.ulivefree.com and check out the information found there. You don't have to fill out any information unless you want to download the "more detailed" information found in the e-book. Watch the videos and the testimonials found there and then get in touch with me and let's see what may be possible for you.

In the next article, as we continue to discuss the consequences of debt, we will be talking about "LIMITS". Being in debt will definitely limit your life in many different areas.

Be sure to join me for that and, until then, whatever you do, always be sure to...

"Make it an AWESOME day! (Who else is going to do it for you?)"

Mike

Future You University   FYU on Facebook!   Podcast on iTunes   Podcast RSS feed

YouTube   Live Debt Free!

Work From Home Series #5: My Suggested Solution

In today's concluding article for this series, I will systematically go through the "Six Warning Signs" that I mentioned in Lessons 2 and 3 and see how they "stack up" with the company that I will share with you today. I will also see how this company "stacks up" with my personal "Mission Statement" that I shared with you in Lesson 4.

As I stated before, if you have not checked out Lessons 1 - 4, please be sure to do so. All of these lessons are important for those that may be considering connecting with a company for the purpose of "working from home". Too, I STRONGLY suggest that you watch the videos for this series. I believe you will benefit greatly by doing so. As a matter of fact, I will mostly be sharing the screen shots from the video in this article. Watch the video for full details.

Here is the comparison of this company with all six "Warning Signs"...

 Take a look at these stats...

 I recently worked for a company that built custom homes. I would work with those that showed interest in getting information about the process and would get them to the point that they wanted to fill out an application to see about getting a loan so that they could purchase their "dream home". 

However, there were so many that were not able to get approved due to their "debt to income ratio". Simply put, the amount of debt that they had was too great for the amount of their income and the financial institution decided that they could not take a risk on such a proposition. So much of their problem would usually have some connection to student loans, medical bills, credit cards and/or automobile loans. Often the problem involved ALL of the things that I just listed. 

DEBT IS A MAJOR BURDEN IN OUR SOCIETY!

So, here is my business card that will introduce you to the company that I have decided fits every area of my search and my purpose. The name of the company is United Financial Freedom...

Please be sure to go to the website listed above - www.ULiveFree.com - and watch the 2 videos that you will find there. This will give you a GOOD idea of what it is that we do. Write down any questions that you may have and then contact me with those questions. 

By the way, this is NOT some sort of "credit repair" company at all. This is NOT a company that will try to find some "loophole" that will allow you to skip out of debt that you owe. It is a program designed to help you pay off your debt - ALL debt - in a fraction of the time and save you THOUSANDS in interest. Again, WATCH THE VIDEO to get the full story of what I shared there. 

Let me mention one more thing: IF you feel that this is NOT for you as far as a "work from home opportunity", please take a close look and see if this would not be something that could help you and your family in the area of debt and the stress and strain that is a part of that circus.

I'd love to get your feedback and hope you will do that for me. Until next time, whatever you do...

"Make it an AWESOME day! (Who else is going to do it for you?)"

Mike

Future You University   FYU on Facebook!   Podcast on iTunes   Podcast RSS feed

YouTube   Live Debt Free!