In this short post, I want to ask you a simple question; What do you do when you are in debt?
I am also in the property management business. I have seen tenant applicants who had their homes repossessed simply because they are as little as £200 or less short in monthly mortgage payments.
Option 1: I was researching this topic this morning and one of the options I read about was debt consolidation: which is described as borrowing more money to pay off all your debts and then have one “manageable” debt!
Hello? you are still in debt and if you are not careful, you get into an even bigger debt with so called “smaller affordable” repayments that will cost you an absolute fortune over time. (More than all your old debts put together!)
So why would any body consider debt consolidation? Often because the system makes us believe that it the best solution. Enough emphasis is not laid on wealth creation, instead they want to pile on more debt and misery.
In my opinion, debt consolidation is not a good idea because the last thing you need when you are in a hole is to start digging another hole to cover the first hole.
We need to change our ways of thinking and stop accepting what the norm is.
We need to start looking for more viable solutions to common financial problems. We need to find new ways to create wealth.
If you have an open mind, you don’t have to look very far for simple and effective solutions, which brings me to a second and better solution.
Option 2: There are ways to help you CREATE WEALTH (simply put: make money) online and use that to pay off your credit card, store debts, car loans gradually.
Over time you can be truly debt free.
We have a simple online business system called Traffic Monsoon that could help you start making £10, £50, or even £100’s daily.
What would that mean for you and your family?
I have a full review of Traffic Monsoon HERE