Tag Archives: Coaching
Dispelling a Myth That Will Help You Get Out of Debt

Dispelling a Myth That Will Help You Get Out of Debt

There are many reasons that most of us have debt. Some debts are unavoidable, like your home mortgage, or car payment. What is common are some attitudes we have about debt, and what is acceptable. Changing the way we think about carrying debt can ultimately help us get out of debt.

One of the most common myths about money and personal finance is that we can or should buy something because we deserve it. We have this false sense of entitlement in regards to our spending that causes us to create debt problems. We think that since we work really hard for something, we deserve to buy it regardless of cost.

This myth can be particularly challenging for those of us who have a tight financial balance. If you are someone who has difficulty saving but generally manages the rest of their finances well, you may buy things on credit and create unnecessary debt.

Let’s say you have been in the market for a home computer for a while. One day you notice an ad in the local paper that talks about a weekend sale on home computers. Naturally, you rush down to the store that placed the ad to check out the possible deals.

When you get to the store, you quickly see all of the great specials on home computers. You are also able to quickly identify a model that is well within your price range. This model has most of the features you want, and has all of the must-haves.

Not far away from the reasonably priced model, you spot the grand pooh-bah of home computers. This model has everything you want and need in a home computer, plus many features that you only dreamed and heard about. This computer is more than you have saved and budgeted for.

You know it costs more than you intended to spend, but since you can get it on a store credit card, you buy it anyway. Hey, you work hard; you provide for your family and acknowledged that you would need the more expensive model to accommodate your family’s usage.

You work hard, your family needs it, and therefore, you deserve this more expensive computer right? Wrong! You deserve a computer that works for your needs and that works for your budget. By getting the more expensive computer, you created more debt for yourself. You also put unnecessary pressure on yourself to work harder in order to pay for the added expense.

By convincing yourself that the more expensive unit is worth the added burden of paying for it, you have endorsed the theory that you deserve the best money can buy. What has really happened is that you allowed your desire for a new computer outweigh your sense of practical and normal spending habits

The way we should look at scenarios like this one is to recognize that any form of debt, no matter how big or small, is bad. We should also note that while we had enough money saved to buy an adequate computer, we chose to burden ourselves with the more expensive model.

We can overcome this set-back by being willing to limit our purchases on things we want and focusing on buying only what we need. By limiting our spending to things we need from those we want, we will be able to save more, which means we can eventually get out of debt.

.. Follow Raymond at http://www.Twitter.com/RaymondAaron
… Join Raymond’s Fan Page at http://www.FacebookRaymond.com
… Claim your http://www.GIFTfromRAYMOND.com to double your income

Change the Way You Think and Live a High Income Life

Change the Way You Think and Live a High Income Life

Most people laugh at the idea that living a high income life is possible for them, seemingly at the flip of an internal switch. It is hard to think that they could be living the life they dreamed of by following a simple plan and changing the way they think.

Most of us are at places in our lives where a few small changes in us would drastically alter our lifestyle. Unfortunately, we somehow think that we are too old to change the way we look at problems. We even fear changing so much that it paralyzes us in other areas of our lives.

Even the thought of changing how we view things sends us into a panic, but it is most necessary to make corrections in our selves after self-reflection. Self-reflection is a difficult task to master. It is also a very necessary tool in accomplishing one’s goals.

First, change how you see or think about goals and goal setting by understanding that the purpose of setting goals is to accomplish them. Instead of becoming a goal setter, become a goal accomplisher. This will be the beginning of changing how you see things.

Most people think it is impossible to will your way to financial success. Imagine the world without personal computers. If Bill Gates had simply given up on his dreams and goals, where would we be? Gates willed his way to the top of the computer industry for many years. Was he smarter than us? Perhaps, but he believed his goals to be real and attainable, and they were.

By now, every American is fully aware that we are in a global economic crisis. Families are forced to make decisions that sometimes alter their quality of life. Getting out of debt, or making financial decisions based on managing their debt is the best way for families to make it.

Managing debt can be as simple as paying off all small balance credit accounts. Once this task is completed, you can choose to continue paying balances down or save a few dollars and pay off major credit balances. The key in this scenario is not what we are doing, but the fact that we are doing something at all.

Managing debt can also mean not opening new credit accounts when you have what you really need already. Caring for one’s family is not at question here, but if there are items that you could live without for now, it would be well worth it to do so. By not adding debt to your current situation, you are actively pursuing being debt free.

Whether you are looking to improve your financial picture or starting from scratch, living a high income lifestyle is attainable with a few actions. We must repeat those actions, or good habits, so often that they become second nature. By changing the way we see debt, or goal accomplishment, we will notice dramatic changes in your lives.

.. Follow Raymond at http://www.Twitter.com/RaymondAaron
… Join Raymond’s Fan Page at http://www.FacebookRaymond.com
… Claim your http://www.GIFTfromRAYMOND.com to double your income

Getting Out of Debt by Walking Backwards

Getting Out of Debt by Walking Backwards

While many of us have a clear idea of where we want to go in life, we may be a bit overwhelmed by not knowing how to get there. Often we discover that the way to financial independence and getting out of debt is littered with obstacles. One way to get past a few of these roadblocks is simply to plan in reverse.

Goal setting is such an important tool in our life’s journey. By setting goals, they seemingly serve as miniature road markers on our way to where we want our lives to go. More importantly, by looking at goal setting in a different way than we may have in the past, it allows us to acknowledge goal accomplishment as an even more powerful life skill.

In other words, we have learned that simply setting goals is not enough to get where we want in life. We know we actually have to accomplish these goals and reset new ones all along the way. Goal accomplishment should bear most of our focus, not just the act of setting goals.

Now, what do we mean by walking backward? What about driving in reverse? Honestly, walking backward to get out of debt means that you take time to look back or review the goals you have set. It also means taking a look at what you have accomplished and using this information to plan future goals and accomplishments.

If you have become an expert at setting and accomplishing goals, walking backward can take you to the next level in your life. As an expert goal setter, we should have major goals set, maybe six- to twelve-month goals, and we should have smaller benchmarks set which fit inside the framework of the larger goals.

Going further, if we had a goal set to accomplish by the end of this calendar year, we should have monthly goals as benchmarks to guide us toward our year-end goal. When expressed in this way, we can grasp the concept of walking backward as just looking over the goals and mini-goals we set during the year.

Reflecting on these goals will serve many purposes. The first purpose would be to understand exactly where we are in relation to accomplishing our large goals. Another purpose would be to determine if we need to adjust our plan, or change direction completely. This is crucial in mastering goal accomplishment.

By walking backward, we are just reviewing our plan. So if we notice we are not going in the right direction, or if we have just strayed off target a bit, we are able to make adjustments and get back on target. A very important purpose that walking backward serves is giving us the ability to take time to acknowledge what we have accomplished thus far.

Let’s be honest. A strong sense of self-worth, the satisfaction of getting something done, or the self-esteem boost we get when we accomplish something is a powerful tool that we can use as we go forward. Imagine what would happen by our setting good goals, accomplishing them and getting those powerful feelings each and every time we walk backward, or review our life map.

It would undoubtedly inspire us to do even more, reach even higher, and accomplish more than we ever dreamed. So by walking backward, we can use this step as a powerful tool in getting out of debt.

.. Follow Raymond at http://www.Twitter.com/RaymondAaron
… Join Raymond’s Fan Page at http://www.FacebookRaymond.com
… Claim your http://www.GIFTfromRAYMOND.com to double your income

Living a High Income Life is a Matter of Choice

Living a High Income Life is a Matter of Choice

One of the most difficult things to do as a person is to self-evaluate. Examining our own lives is harrowing because we are sometimes too hard on ourselves when we fall short of doing something we want. Ultimately, living a high income life is a matter of choice, not chance.

If you have ever wondered what separated some wealthy individuals from some blue collar or working class people, the answer may startle you. If such a survey existed, you would find that the wealthy cross-section of subjects had a moment in their lives where they made a choice to go after or do something that would set them up financially.

That is right; wealthy people chose to do certain things that would lead to financial success. Some of the other, less affluent members of the study would show that they made a choice, or series of choices, to be in the place that they are in financially. While we would not make generalizations about one group or the other, if there were a study like this, it would probably turn out this way.

Imagine that. What would happen if average, everyday people figured out that they could change their financial standing simply by choosing to do so? Would the world suddenly be filled with overnight millionaires? Of course not. Unfortunately, many people may hear of this discovery and never take action.

That is possibly the key to this whole process. The wealthy would have chosen to be wealthy, they chose a plan of action to get to that place, and most importantly, they acted on it. They were not overly concerned with failure, because they came into this scenario having nothing to begin with.

Even for those who are affluent already, they too make choices that affect whether they remain wealthy. Truly wealthy people who have worked hard will tell you that climbing to the top of the mountain is a lot easier than staying there. With that in mind, we must remember the habits we learned that helped us to get where we are.

There are three basic components in the “choose a high income life” philosophy. Before beginning the journey of what could be, we should have formed a plan, made some long-range and short-range goals, and we should be willing to self-reflect as directed.

The first component in living a high income life is to simply choose a life of financial reward rather than accepting less. We are always able to give great advice to others, but we seem a little powerless to self-evaluate and take our own advice. Still, wealthy people choose to make things work, even when others stand in the way.

The second component in living a high income life would be choosing a course of action that moved your life toward financial success.

The last but most important step would be to move and actually get started on accomplishing the goal. Without action, no amount of goal setting, positive thinking or good intentions will give you the high income life you seek.

And, you can get even more on this topic by enjoying my entire bestselling book DOUBLE YOUR INCOME DOING WHAT YOU LOVE at http://RaymondsBook.com/gift, so that you get started right away living the life you deserve.

Remember that the reason you are interested is so that you can have the time and financial freedom to live the life of your dreams. Now is the best time to start, by clicking on http://RaymondsBook.com/gift.

Also, follow me on http://Twitter.com/RaymondAaron and I will immediately follow you back.

Finally, please become my Facebook Fan at http://RaymondAaron.com/FB.