How to get out of debt fast is so simple. Of course we are all in different situations, but you should learn about money and stop giving it away to other people like the banks. They have enough. It the honest people that always work hard and pay back their debts, and the banks know this. They rty their best to trap you into so much debt, you’ll be paying half you’re income just on interest.
Don’t be a fool, and never borrow money period. You’ll life will be richer and so will your family. Always live below your means. Never buy a new car. Make you meals at home and take them to work. Don’t buy coffee anywhere, make it at home, take it with you in a thermous. Watch every penny you make. Don’t buy anything, you don’t really need 99% of the junk made in China anyways. You should learn to live with less, it’s better.
If you’re in trouble and you don;t know how to get out of debt, I’ll do my best to help you. First step is to lower your expenses as much as possible and STOP SPENDING YOUR MONEY. If you need clothes, ask a friend, buy them second hand. If you’re not willing to buy a used T-Shirt, this is a bad sign, a very bad sign that you’re not serious about getting your finances in order.
Millionaires don;t waste their money, they buy used cars, wear used clothes. That’s how they got rich, and it not an easy mindset to change. You will need to cut expenses and pay off your high interest loans and credit cards. Move back home with your parents, you can probably save on Food, Laudry Soap, Electricty and water bills. Even get free internet. Get rid of your car and use a bicycle. You’ll save on gas and insurance, car repairs and the extra money you get for selling it you can put down on your debt. Use every extra penny to get rid of debt. Once you’ve done that, keep living lean, build up some savings. Stop paying rent and buy your own place. Real Estate is the best investment you can make. If you get into trouble, you can always rent it out and move back into your parents house. Once you have a home and some passive income, invest and diversify. Buy some gold, silver when prices are cheap, buy stocks and foriegn currencies when they are cheap. Buy more realestate, try to put you money intot things that appreciate in value, not a new car that deprciates. Diamonds are a terrible investment as is most jewelery. If you buy a gold chain, you paying way more than the value of the gold in the chain. In most cases you buy a gold chain for $1000 and if you tried to sell it at the pawnshop, you will only get $400 for the value of its weight in gold.
You can also invest in trends if you can flip them and get out. Beanie Babies was one of those trends that made thousands of millionares fast.
But the first stp to getting rich fast it to get out of debt fast, as soon as posible. Suffer as much as you can until you’re debt free. If your not willing to suffer now in the short term, you’re going to suffer far more for the rest of your live, paying high interest. You just might get stuck only being able to pay the minimum interest on your loans and you’ll be retired with massive debt loads.
Live below your means and stay out of debt, you’ll have more assets and you’ll be able to really enjoy your full income potential. Don’t get sucked into taking on any debt. Be aware there is nothing for free. If you see a TV on sale with a free DVD player or some other gimmick, don’t be fooled. They only do promotions on crap. The TV will be crap and the DVD will be crap. Buy quality items less often to save money… but that is an entirely different article I’ll have to post soon.