“How do I get out of debt?”- It's a logical question to ask when you're in over your head financially, and finally decide you want to become debt free. But how do you do it? Well, the first things you have to do are to get mad and naked.
You can't just decide you want to pay off all your debt, and BOOM! It's done. You have to do a couple of things first. I'll tell you all about why (and how) you need to get mad and naked below.
This is the first post in a series that shows you every single step it takes to get out of debt completely, and start living a debt free for the rest of your life.
Flying By the Seat of Your Pants Doesn't Work
So many people who are in debt at some point decide they need to get their debt paid off. So they haphazardly begin paying it down without a concrete plan in place.
This rarely works.
Why? Because there is no roadmap to go by. Eventually you lose your way because you never totally quit using the credit cards, and have no plan when a financial emergency comes up.
But with getting out of debt, flying by the seat of your pants just doesn't work. It's way too easy to revert back to old habits after a few weeks or months, making little to no real progress financially.
In this series I'll detail 5 steps you need to take that will ensure that you get out of debt and succeed financially for the rest of your life.
Before You Start, You Gotta Get Mad and Naked
You may be anxious to get started, but hang on just a minute… Before you start the process there are a couple of things you absolutely must do.
You Have to Get Mad
Next, you absolutely, positively have to decide that you want to get out of debt no matter what. Then, once you're done with it, you'll never go back. If you're wishy-washy about it, then you may not be dedicated enough see it through. You have to be mad enough at your debt to kill it for good.
Then You Gotta Get Naked
Then you have to take one scary step that most people never take when they start the process of getting out of debt. It's one of the most smartest things you can do, yet most people never even consider it. And for the ones that do, it strikes fear in their hearts because it's so counter to what we're all taught.
“What is it” you ask?
That thing that you must do is go naked.
Whoa, hang on there. No, I don't mean you should strip down and go running through the streets yelling “Woohoo! I'm getting out of debt!”
I don't mean that at all.
If you do, then leave my name out of it when they write the police report.
What I mean by going naked is that you get rid of your credit cards and don't take on any new debt, period.
I don't mean you just stop using credit cards until your financial situation improves or you keep one in the sock drawer in case of an emergency. I mean cut 'em all up and go all in by totally swearing off of using credit, no matter what, even in an emergency.
That's what I mean by going naked.
Going Naked is Uncomfortable
Taking a naked stroll around the neighborhood can make you feel uncomfortable and vulnerable.
Going naked with credit can feel the same way.
Because we've been conditioned to think that we need it. We've been told that if we don't have credit available we could end up in financial disaster.
But the total opposite is true. When you cut up the credit cards and decide you'll never go back, you actually become more financially free than you've ever been.
After You Get Mad and Naked
Once you pay off your debt, you won't ever spend extra money on interest and fees that suck you down the drain financially, giving you a financial swirlie in the high school bathroom of life.
But when you get mad and naked, and you decide to cut up the demon plastic, what do you do then?
Well, then you proceed to step one of your customized get out of debt master plan. Stay tuned and I'll cover that in the next post.
Until then, answer just one question for me.
Have you ever decided it was time to get out of debt but never fully followed through? What held you back?
Ok, that was two questions. So shoot me. Leave a comment and tell me about it.