In my last post Now or Never I promise that I will tell in details how my husband and I was able to start and get out of our debt. I want to share a lot of things that I knew when we first decided to get out of our debt. We made a lot of mistakes and although we can't go back in time and redo our life again, but I hope that our past experiences can somehow help others by learning through our experiences.
Bo Sanchez suggested that if you really wanted to be financially free Invest, Invest, Invest, but how can you invest when you have a huge and sizable amount of credit and debt. This is where discipline coming in. Do you really want to be financially free and get out of your debt? have some goals. My goals then were just simply pay off all our debt before anything else, so what I did was I made a computation on how to pay off our lender monthly in a way that it was not difficult for us, my husband then already decided to go overseas. Out of worry that he will not be coming back hehehe me and my malicious mind (thank God he didn't turn his back on me).
I was left alone physically with all the responsibility. I come up with a proposal, I made a payment plan with his approval of course because the majority of the payment monthly will be coming from him, a proposal on how to pay our lender easily with his consent. Then I negotiate, one thing I've learned when we got into this financial crisis was I learned to negotiate. Some of my lenders became my friends and soon they became my partner in some of my investment. Don't hesitate to negotiate because lenders love to negotiate rather than not paying your debt, don't make your credibility be on jeopardy credentials was far more important than money.
I was left alone physically with all the responsibility. I come up with a proposal, I made a payment plan with his approval of course because the majority of the payment monthly will be coming from him, a proposal on how to pay our lender easily with his consent. Then I negotiate, one thing I've learned when we got into this financial crisis was I learned to negotiate. Some of my lenders became my friends and soon they became my partner in some of my investment. Don't hesitate to negotiate because lenders love to negotiate rather than not paying your debt, don't make your credibility be on jeopardy credentials was far more important than money.
So remember when you cannot pay your debt don't forget to negotiate be honest. After all the negotiation and all of our lender say yes to our proposal we started to plan the next step which is how to INVEST. How we started Investing? What investment? you will find out on my next post for now it's time to say goodnight. Happy savings and have a fruitful life.
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