Debts Getting you Down?

Cydney and Zebiba

You might think that you’re unlucky with money, or will never be good at it.  Every day I get to drive past a million dollar commercial building I bought at the top of the property boom and sold at the bottom of the market a few years later.  It was one of those terrific properties that actually brought in enough rent to cover all it’s expenses and still had plenty of opportunity for capital and commercial improvement.  Only I renovated it for 6 months and then sold it below it’s market value and at a loss.  Why did I do that?

Because when I got my spending to earning ratio out of whack, my debt started to pick up momentum like a snowball rolling down a snow covered hill.  I bet a lot of people can relate with me on having to give up good assets to cover the black holes of debt created by leveraged overspending.

Cydney and Zebiba

What the heck is leveraged overspending?  It’s using those little demon plastic cards too much that we keep in our wallets.  They just keep letting us spend money, often beyond what we have in the account, and then they make the bank a nice residual and healthy interest income, to our general disadvantage.

Letting your spending overtake your earning, and then funding it with expensive credit is pretty much the opposite of creating leveraged income streams for yourself.  By overextending your credit lending, you become one of your banks favorite employees.   You start making them lots of money and they can fire you whenever they want and still have you pay them until all your debt to them is gone.

I don’t ever want you to have to sell your most beautiful and favorite possessions to feed the black hole of intergallactic debt.  So what are we going to do about that?

If you’re lucky enough to be aware of the disparity between your spending and your earning, and are keeping your it all under control, then good for you!  Now, all you have to do is start being aware of ways that you could be bringing in a bit more income, and we’ll be talking about that a lot in this series.  That’s where I am right now, building businesses that solve problems for people.   So I have a lot to say about starting and growing home based, and start up  businesses.  I love them.  I have had so many of them that you’d have to call me one of those cerealpreneurs, just kidding, we are known as ‘Serialpreneurs’, not at all related to the other types of Serial’s you hear about such as Serial Monogomists or worse, we  are quite the opposite!  We love to please, and we want to try everything!!

But if you are one of those people who is already drowning in debt, and wondering how you’re going to get out of this one, then today is the day to take action.  Make a list right now of the things you can do to start turning it around.  You can get out your last credit card statement and start going through it to see what you bought that you can take back, cancel, or on sell.  Make a list of your habitual overspending and decide on some strategies to make sure it doesn’t happen anymore.  Get yourself a debt squad team, enroll a few friends with the same problem and have a brainstorming session.  Hold a garage sale together, or set up an online business, even it it’s just Ebay.

I have a friend in the US, who inspires me every single day.  Her name is Zebiba Shekhia, of  www.HealingBridges.org.  She decided that she was going to build schools for the girls who live out their lives in refugee camps in Southern Sudan.  She used to take doctors, but the answer was education, so she had to camp out at the government offices for months to get permission, and then she had to campaign all her friends and associates for the funds to build the school, and then the furniture, and then the uniforms, and so on and so on.  That woman  performs miracles every day, because she is unrelenting in her commitment.

Today is the day you can turn things around, and believe me, I’ve been there, and it seems huge when you try to shove it under the carpet or to the back of your mind, but amazingly, when you deal with it a little piece at a time, you really can achieve the miraculous.  I send you my love in your victorious battle of the demon debt.  If you don’t know where to start, post a comment and we’ll rally round to cheer you on!

I have also written an ebook to help you enroll your team and get started, it’s called “How to Activate Your Inner Millionaire” and is available on my website www.MarketingMasterClub.com my gift to you.

Cyd xx

And by the way, when you have some extra income you can help with causes like Healing Bridges and probably get a greater reward and more lasting joy than you’ll get from the latest winter fashions!

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