How to live a debt free life

What is debt?

Debt is when you owe someone something; it could be help, money, or services. But I want to focus on money debt here.
Now, take for instance you owe Mr. A $1,000, Mr. B $900, Mr. C $850 and Mr. D $550. Do you know you can comfortably pay off these debts without you knowing it? I will be revealing to you basic methods you can use if you are already in debt or intending to avert future occurrence

Let assume you are earning $2,000 monthly and your accumulated debt is now $3,300 for you to pay off these debt, you must decide to be debt free, which I call definiteness of purpose and you must put into conclusion that there will be no more debts. That is the only way out if you desire to pay off your debts and live a debt free life After that comes the plan of your debt which I will be revealing to you now.

Create a budget for your spending, in this budget you should know the essential things to budget money for and those to rule out like, Having dinner out in an expensive restaurant, buying expensive wines, gambling and the likes. You should know by now that anything that will put you back on the lane to debt should be thwarted.

Write down the names of the people you owe and fix a percentage of the money you owe them that you will be paying them monthly. Once this is done, then you are ready to be free from debt again. One thing is certain here, once you begin the payment do not relent from continuing because there are circumstances that will come up but I implore you to forge ahead no matter what.

This is how it works, your monthly income, is $2,000 and your accumulated debts is $3,300. 50% of your income goes for bills, 30% for the debt payment, 20% for investment and savings because solving the problem of debt without finding solution to the cause of the indebt ness will be dangerous. That is why we must learn to invest as well as save and you should learn to buy assets instead of liabilities.

Remember you have come to terms with yourself that there will be no more debt so you must avoid the abuses of credit cards, buying on mortgage and going for necessary loans, we should know that the coming debt free is not difficult at all, if you are determined, courageous and have definiteness of purpose.

Wish You Freedom.


OMOKARO EFEOBOME is an Investor, A business man and Internet marketer, a motivational speaker, a financial consultant. He is also an Analyst. He has wealth