People have asked me, “How to get out of debt?”.
My answer is – “It’s impossible to get out of debt if this is your primary goal!”
If you’re thinking about debt, no matter in a positive way, “get out of debt fast,” or in a negative way, “I’m so tired of debt! I hate debt”, you’re attracting more and more debt into your life!
This happens because you put so much energy into “debt” that it becomes your obsession. “Debt” is your primary objective! You attract into your life everything you’re thinking about, no matter whether you want it or not.
Read the article “The Law of Attraction”.
How to get out of debt fast? The real way!
The 1st step in getting out of debt fast
Switch your primary focus from “debt” to” “savings.”
Start building your savings instead of getting out of debt.
My first goal was to have $10 at the end of the month. The following month – I saved another $10.
My second goal was to save $50! I completed this goal during the next few months. Then switched to $100!
BIG MISTAKE is trying to save 10% of income.
I found that advice in every book about finances.
But it didn’t work because that goal was too challenging. It’s like doing 100 sit-ups at a time, considering you haven’t practiced them at all.
Start small – gain confidence! Then set the bar higher – reach it!
My mind told me: “Saving $50 a month, you won’t ever accumulate $50000!” Logically my mind was right, but it didn’t take into account that the habit of saving money would grow stronger, and I will save $50-100-500-1000-10000 per month!
This is how you get out of debt!
Thanks to that model, I achieved the level of accumulating $10000 per month. With that pace, I paid back my debts promptly.
The 2nd step on getting out of debt fast
Start investing your savings in profitable, safe assets like Apple, Microsoft, or Google stocks.
BIG MISTAKE is investing in risky assets to make more money fast.
Remember – the most crucial thing in getting out of debt is building the new habit of saving money!
You either grow debt or grow assets! You can not do the two at the same time. When you switch your subconscious mind to growing assets, you’ll automatically get out of debt.
I remember when my mind switched to accumulating money. It became like a game. I had $1000 in savings. I wanted to have $2000! Then $5000, $10000, and on.
And to do it, I had to make more money. The more money I could have made, the more I would have accumulated.
Later, unnoticeably I reached the bar of accumulating 10%. I calculated and discovered that I saved around 20% of my revenue! I was shocked as I reached a goal without realizing it.
How to get out of debt? Conclusion
- Switch your energy to “savings.”
- Start accumulating money
- As your confidence grows, you’ll engage in accumulating more and more
- You’ll start to make more money because you want to save more
- Invest your savings in profitable, safe assets
Some day you’ll find yourself having zero debt! You’ll be shocked because you haven’t noticed how you get out of debt.