The taboo topic, we don't speak about on the dining table "MONEY". This post was inspired by a video of Dave Ramsey, I stumbled upon on YouTube. This thirty-five minute video, is mind blowing I would advise you to pick up his book on the "The Total Money MakeOver".
“A man in debt is so far a slave.” – Ralph Waldo Emerson.
My quest to become an entrepreneur, led me to think about financial freedom in another way. Imagine a life, without student loans, car notes or mortgages but just monthly expenses to be paid. Focus is one of the biggest requirements for any successful individual (entrepreneur or not).
For me, trying to run a business with little capital is a scary while having debt. Presently, I'm sticking with principles from the books: "The Richest Man in Babylon by George Clason" and "The Total Money MakeOver by Dave Ramsey". So, I decided to get debt free, while I am getting the knowledge and experience needed before my big break out.. I have 2 credit card debts, a car note and the almighty student loan.
Budgeting is not something I did before, in order to achieve this personal goal, I had to start writing one. Everydollar is my go-to place to set-up my budget, and truthfully, it is not as easy as punching some numbers in and sticking to it. If you read Dave's book, you'll be familiar with the seven baby steps which luckily enough it is a great feature present on the everydollar app. I'm taking my baby steps just doing one goal at a time.
“What can be added to the happiness of a man who is in health, out of debt, and has a clear conscience?”- Adam Smith.
Last month, I put a pair of scissors through both of my credit cards. I called the credit card company to pay off one of my cards, the lady on the phone was trying to sucka me into "a great deal" by increasing my credit limit. My response: "Thank you, I'm okay".
For a capitalist country, debt is good. But when the economy comes crashing down, it is always the debtors that pay, not the rich.
---Follow, on my journey to get debt free.