Few years ago, I found myself in debt. I can’t tell you the amount as it is quite huge. As I go onto to finish this article, I am glad to inform you that I have paid most of my debt and within the next few years, I will pay off the rest of my debt and become a person with a new identity.
When I was in debt I was afraid of the fact that how will I pay my debts and what will I say to those persons whom I owe the money. I was simply scared and just wanted to run away some place where no one could identify me. But instead of running I will tell you the secret which I followed to pay all my debts and got my new identity of a debt-free person.
Steps to follow in order to be debt free:
- I stopped adding debt to my list: This is the most important thing I did. I stopped taking any further money as a debt.
- I stopped using my credit card: The next move I did was stopped using my credit card. This way I could control the amount of money I needed to spend.
- I changed my attitude towards my life: When I got in debt, I became hopeless and started behaving like a nuisance. I got to know that, if I wanted to clear my debt I needed to change my attitude towards the situation. That’s what I did. I prepared myself to clear all my debts as soon as I can. The fact is that if I would have lacked the confidence in myself, I won’t have been able to achieve what I have now.
- I kept myself busy in doing some work: Losing hope and simply sitting in front of the TV was not the thing I did when I was in debt. Instead of losing hope, I used my time and the money which I had in a right way. I tried to use different methods to increase my sum which I had.
- I did my planning before purchasing anything: I had the bad habit of spending a lot of money on buying stuffs that was really not necessary. When I got in debt, the most important thing I did was to plan my purchases. I decided that I will buy the things that are important to me.
- I started living the life of a simple man: When I had money in my pocket, I treated myself as a king and spend a lot of money on my luxurious living. Living in debt made me the person I needed to be. I started using common items or brands rather than using top brands. I started living the life a normal earning person would live.
- I tried to find opportunities to increase my income: During my debt days, I was on the hunt for any opportunities which gave me the luxury to earn more than what I was earning or I had in my pocket.
- I saved some extra bucks for an emergency: In the process of paying my debt, I created a separate fund which I could use in any emergency situation. In this way, I was saving myself from taking money again from someone.
Finally, I will conclude by saying that, getting out of debt is not an easy thing. But by total dedication debt can be overcome. I shared my experience of how I cleared my debt instead of running away from it. There are other ways also I could have followed, but I preferred what was Best for me.