Tag Archives : Debt Free

Debt Plans to Consider Instead of Bankruptcy

It seems that these days everyone is in debt. With credit readily available and interest rates at historic lows, people are digging themselves into a debt blackhole. Whether it be by credit cards, payday loans, store cards, overdrafts, graduate loans, business debts or personal loans, being in debt takes it toll mentally and financially and most people in this situation may consider filing for bankruptcy. Whilst bankruptcy may be good in some situations as you can get a fresh start, it has severe repercussions. Some drawbacks of debt include you may need to give up assets including your home & car, your bank accounts will be frozen, income in excess […]

The Myths and Realities of Debt

Debt is a topic that brings about much confusion and debate. Some people say that debt is beneficial as it can be used as leverage in building wealth, whilst proponents against debt say that it can lead in you in a downward spiral in your financials life. So this articles looks to debunk the myths and bring out the realities of debt. Myth: Debt is a tool and should be used to create prosperity Reality: Debt adds considerable risk, most often does not bring prosperity and isn’y used by wealthy people nearly as much as we are led to believe. The myth has been sold that we need to use […]

From being in debt to becoming a multimillionaire – story of Mark Ford

Below is an article Mark Ford wrote for his Palm beach letter readers. The story is inspiring and motivating as it show how he went from being in debt to the tune of $100,000 to becoming a millionaire with $50,000,000 net worth. In his own words, this is the story of how Mark Ford became a millionaire. I grew up relatively poor, the second of eight children. My father earned $12,000 a year as a college professor. As a teenager, I was ashamed of our small house, my hand-me-down clothes, and my peanut-butter-and-jelly sandwiches. I dreamed, literally dreamed, of living like a rich man. And so, when I got my first job at […]

Why millionaires file for bankruptcy. Story of 50 Cent

50 cent filing for bankruptcy is doing the rounds on social media and the news. The news seems strange to many as 50 cent was worth $155 million just two month ago according to Forbes. And the man is considered as one of the smartest and most business savvy rappers out there. So him filing for bankruptcy is a strange one. But if you understand the reasons as to why a millionaire like 50 Cent has filled for bankruptcy than this move seems to make sense. It could be because he found low cost bankruptcy Florence Ky to save his assets. A lot of people declare bankruptcy in the hopes […]

The Number 1 Wealth Killer ! 5

Ask any financial adviser or better yet, ask any millionaire and they will all tell you the same thing, the number one wealth killer is debt! Now not all debt is bad. There is good debt and there is bad debt. Good debt helps you acquire assets that will increase your wealth like a mortgage. Bad debt on the other hand only increases your liabilities and only leads to the destruction of wealth. Bad debt includes consumer debt and credit card debt. If your debts begin to pile up, one option that you may consider is the option of debt consolidation. Debt consolidation loans (click here for more consolidation info) […]

How To Reach Your Savings Goals and Where To Put Your Savings For Quick Growth 1

Many people who have just become debt free find it hard to transition from paying off debt to saving. When people suddenly become free of debt, they have the temptation to spend more than they’ve been used to and have the urge to impulse buy. After all, it feels like a huge weight off your shoulders to finally be debt free so why should you not be allowed to splurge? Although you would like to break the shackles and go on a spending spree, this notion of living beyond your means can get you back to square one i.e. being in debt. It is important to always keep your finances […]

Get Out Of Debt In 5 Steps! 1

Many Britons today have large amounts of bad debt (credit card debt). This bad debt can bring many stresses to life and bring instability to your financial future.  With the wealth of debt advice available on the internet, it could be daunting to know where to start and what advice to follow. This article has aimed to gather information on getting out of debt for various sources and it is listed below in a 5 step process. 1) Give Yourself a Goal and a Deadline The first thing you need to do if you are serious about getting rid of debt is to make a plan. You need to look […]

7 Savings Mistakes We All Make!

Many people consider saving money to be one of their hardest financial struggles, if not the hardest. To be a good saver, you need to consistently be disciplined month after month and this takes a lot of hard work. A survey earlier this year just proves how difficult saving up can be as over a quarter of people were found to have no emergency fund of any kind and an even greater number don’t have savings that can cover 3 month worth of expenses. Whilst some people find saving money at it, others are naturals at it so to speak. So if you’re part of the minority that puts money […]