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Extinguish Bad Debts

Are you overwhelmed by unmanageable BAD Debts?

In order to become a successful investor and create wealth you must first put your personal finances in order. To put it simply if you have too much" bad debt" due to poor financial habits, do not get into more debt ,bad or good. Getting your personal finances under control allows you to look forward for sound investment and hence create wealth.

STEPS TO GET OUT OF "BAD DEBT"

1. Be Honest
Commit to tell yourself the truth. Hold yourself responsible and face the truth.
How much do I owe?

2. Stop Getting Into More Debt
Stop adding to your existing credit card loans and do not be tempted to accept easy credit offered by lenders.
No More bad debts

3. Make A List
List all of your bad debts, no matter how big or small. This step goes hand in hand with step 1
It would also help to have a "buddy" system i.e. someone who you are accountable to every month. This could be your spouse, friend, other family member, a trusted professional..
How do I get out?

4. Determine The Order For Paying Off Each Debt
Pay Off the Lowest Balance Credit Card Debts First (the Snowball Technique)
By using this technique you will get quick results, otherwise it is easy to get discouraged and quit before you get to pay off any debts.
Have a plan.

5. Find Extra Cash Per Month
This could mean a part time job or simply selling items on eBay.
Introducing more money into the equation can speed up your process of paying out your debts quicker.
Do something to help yourself.

6. Move On To The Next Debt
Pay the minimum monthly payments, however to this you will add the minimum monthly payments that you were making on the first debt and the additional extra cash earned per month. This will accelerate your repayments and another step closer financial freedom
Celebrate your success

7. Repeat Step 6 Until All Your BAD DEBTS Are EXTINGUISHED

8. You are NOW ready to become a successful investor and wealth creator

For more information and personal assistance to become a successful investor and wealth creator click here to contact us or please call our office on 02 9363 2377
CONTACT US



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(02) 9363 2377

(02) 9362 3146

Suite 610 Eastpoint Tower

180 Ocean St, Edgecliff NSW 2027

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PO Box 85 Edgecliff NSW 2027
Email:   info@plamanagement.com.au
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