First, I am going to tell you the truth. The situation you are in is not easy. The entire system is often rigged in order to make your climb out of debt even harder.
For example, if you have less than $5,000 in your bank account, banks will often charge you a fee just for not having a lot of money. You’re like wait? I’m broke and you are penalizing me and making me even more broke? This is so ridiculous. Banks are supposed to HELP YOU. Yet most of the products that they have benefit people with money.
You want free checking? No problem, if you have money. You want a business loan? Sure no problem, if you have money.
So the banks, institutions, are really NOT your friend. They are a hurdle.
But here’s the GOOD NEWS. The government IS your friend and you just have to learn to use it to your benefit.
- If you make less than $20,000 a year, you pay very little taxes. This is helpful.
- TAKE ADVANTAGE of government programs – that help people with families, grants for state schools, grants for private schools, grants to help to start small businesses.
- The world is full of great community programs to make your quality of life better. Billionaires have access to the same state parks and beaches that you do for the most part and your quality of life can be better without spending all your money on an expensive trip to Miami.
Now, for the practical. You need to get your weekly payments in order and start a plan to start making money and saving more. Without a plan, if you keep living paycheck to paycheck and it will be extremely difficult to move up and onward.
I asked a friend of mine who he worked for and he said “Mastercard.” Meaning everything he makes goes to pay that interest, so he’s never moving ahead. People who have money don’t pay 29% interest on credit cards and are a slave to them. They get a personal or business loan for like 8%.
People who have money have good credit often times and get a lease on a car for $180 a month with no down payment.
Basically, the commercial world is geared to make everything easier for people who have money. So you need to become one of those people and make a plan to make that happen, no matter what.
People with money don’t pay $1000/month or $2000/month rent. They pay $2000/month mortage payment for a giant house at 3.5% interest – and get huge tax breaks for doing so.
It’s time to plan out the future and that starts now. The only one that is going to make that happen is you. And I am on your side. I want to see it happen. So get out there and make some moves and make a plan.