I can understand quite well what it is like to have a burden of debts on your shoulders. It may be student loans or credit cards or any of the financing you take up for your needs or wants. Debts are awful to have, and with time, it becomes a huge load over your head which often leads you to negative thoughts, stress, depression, and even dark beliefs.

The first step toward paying off your debts is to accept your situation and hold yourself accountable. You need to take accountability with positivity. Remember, it is important to have hope and stay positive when you plan on paying off your liabilities. You need to stay motivated and be bold about your actions and their consequences. When you are done with the self-growth process and have determined your way of facing the world, get a head start on your action plan by analyzing your current financial situation. 

Comprehend why you accumulated debts in the first place. How much do you owe? What strategies are you going to apply? Once you are confident and well-briefed with these, you can start your venture by creating a satisfactory budget. A budget is going to help you track your income and spending. It will assist you in cutting down the unrequired expenses and promote the habit of savings. 

Budgeting is great, and it will help you quite a lot in managing your income and expenses, along with paying off your debts. However, you still hold the power of your spending, and life happens. You can get derailed from your track and may end up going back to your poor habits. To maintain your healthy habits and controlled spending, you must track your revenues and divide them as soon as you have them. All I am trying to say is, assign a job to each dollar you earn so that you cannot spend excessively anymore. 

Not only paying off debts should be your goal, growing your money along with it shall be the next step to take. To be successful, you have to have the mind of an investor. It does not matter how much you invest, all that matters is how long you invest and generate returns. In today’s world where the economy is fighting against the pandemic, each person should be reliant on their own money rather than depending solely on their nine-to-five employment. 

Invest in the field of your choice for generating profits. You can invest in real estate, 401(k), bonds and stocks, foreign currencies, or even gold. Even though the field of investments is a vast one, you enjoy the privilege of deciding as per your comfort and income. 

Saving should be a habit that you keep your entire life. It promotes healthy finance management, and you will never be completely bankrupt or broke if you maintain the habit. Saving has the potential to change your life. Finally, you need to make sure you never repeat the same mistakes you made which dragged you into the pit of liabilities. We are humans, and it is okay to make errors. However, you are failing at life if you do not learn from them and use them as bad examples. Make sure you do not make those mistakes again and make efforts to secure money for your retirement. 

Nobody knows for how long they will walk on this globe after retiring. It may be 20 years or even 30. You need to save up enough to enjoy your retirement with satisfaction and feelings of peace. Your future shall be secured and free of debts when you reach the old-is-gold age (which might not be gold for everyone). 

I hope you enjoyed this book throughout the end and the buy was worth it. Remember to take the tips from this book and implement them into your life to see amazing changes financially.