Let’s talk about bad debt and how to pay off debt. I’m so grateful to say I am FINALLY in a position where I am debt free and now able to save a house.
But rewinding to 2-3 years ago that was not the situation I was in. I quickly got into around $100,000 worth of debt. Here’s how I managed to pay it off in such a short period of time.
0:00 – Introduction
2:05 – #1: Write Down ALL My Debts
3:26 – #2: Accept Where You Are
3:48 – #3: Write Down All My Assets To Know My Net Position
4:20 – #4: Calculate Minimum Required Payments
5:37 – #5: Cut Spending DRASTICALLY
7:23 – #6: Increase Your Income
10:20 – #7: Keep Expenses Low Even As Income Increases
11:19 – #8: Create a Buffer Fund
14:04 – #9: Have Great People Around You
Recommended Videos:
How I Got Myself Into Debt – https://www.youtube.com/watch?v=0lHQ-7LjR0w
How I’m Paying Off Debt – https://www.youtube.com/watch?v=TPuX7B6BPFY
https://onproperty.com.au/884 – Visit the site for a full transcription and downloadable audio version of this video.
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