Money will have a greater influence on your life than
almost any other commodity you can think of. How big is the
influence of money in your life when you're in debt?
Nobody wants to be in debt. There are always circumstances
that it could happen. What can you do about it? Take the
first step by going to your creditors instead of waiting
for them to come to you. Below is a way I learned a couple
of years back, and used in my own life.
It worked for me, it can probable help you to.
What can you do when you're in debt?
First you are going to divide you're weekly / monthly
income into several peace's.
1.. The first 10% of your income goes to a separate savings
account.
More specifically, what you earn Monday morning is yours to
keep, so it should go directly into a special account that
you do not have easy access to.
You have to pay yourself first. Every week/month you'll see
your account grow. Remember, you do not "touch" this
account. If anything should happen to you it will give you
additional serenity of mind or if you wait long enough you
have enough capital to make a wise investment.
2.. The next 20% of your weekly / monthly income will go
directly into another account with which you pay your
creditors.
Draw up a list of your creditors and the money you owe
them. Divide the 20% of your income into parts, to
determine how much each of them would receive from you
every month.
It could be more, it could be less money than they are
receiving. Whichever way it works out, that will be the sum
of money they will each receive. They will receive it every
month.
What you are going to do now is writing your creditors a
letter.
The following is a sample letter I learned from Bob Proctor
when I was reading his book "You Were Born Rich."
Dear ...............:
As you know, I am in debt to you for $________, and I
intend to pay you in full, plus interest.
To achieve this goal, I have been devising a plan during
the past few days to put myself in a stable financial
position. To this end, I have opened an account, and twenty
percent of my income is going directly into that account.
That will enable me to have sufficient resources to live
on, without worry or stress, and it will prevent me from
falling further into debt. Each week/month you will receive
a check for $_____ from my account, until my account with
you is clear.
I am aware that this is not the figure I had previously
agreed with you, but I'm sure you will be understanding,
and appreciate what I am doing.
If you have any questions, please feel free to contact me.
I'am excited about my new plans and if you would like to
have me review them with you so that you might help others
who are in your debt, I would be pleased to do so.
Thank you in advance for your kind cooperation.
Have a wonderful day!
Sincerely .............
Realize there is an "outside chance" that some unreasonable
person will not want to cooperate with you. They might even
go so far as to phone you and attempt to intimidate you
with threats of taking you to court, etc. Hold your ground,
because there is no court in the country that would not
congratulate you, when you explained your entire plan for
Financial Independence.
Moreover, you will find that 95% of the people, to who you
write, will be most cooperative.
Understand that your letter to your creditor is a statement
of fact and not a request, it's you who is in charge of
your finances, not your creditors!
3.. Then there is 70% left over for you to live on. With
this 70% you can pay your bills, buy food for yourself, and
do nice things with your family/friends.
Let's review:
1. You have an instant estate if anything should happen to
you.
2. You have a savings account.
3. You are paying yourself.
4. You have a debt repayment program.
5. You have 70% of your income to live on; to run the house
and for entertainment.
6. Your mind is clear to carry on with your life.
From this moment on, never think "debt" again. Remember,
that has all been taken care of.
Just focus on your savings account, and watch it grow.
----------------------------------------------------
Bjorn Brands is a successfull enterprenuer who transitioned
from having his own building company to a great online
business. Learn how you can use The Law of Attraction like
he did. Visit http://freeinfo.thesgrprogram.com .
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