Debt Slavery Escape

To succeed financially, simply making oodles of money is not enough. We need to also manage that money well. That is why we are looking closely today at the subject of personal debt.

The bulk of this article is made up of an edited excerpt of one my books,Liberty! From Debt-Slave To Money Master.

As you read this piece, I would like you to think closely about your own situation. Are you stewing in too much debt? If so, you aren't alone.


3 Key Principles To Heed

When it comes to dealing intelligently with debt, I urge you to read, study, memorise and apply within your life these 3 key principles:

1. Ask yourself why you are borrowing this money - is it for unjustified consumption or to make you richer?

2. Work out - or have someone else do so for you - the exact APR (annualised percentage rate) or EIR (effective interest rate) of the loan.

3. Based on that correct assessment of the actual cost of the money you plan to borrow, ask yourself if this loan stands a good chance of helping you grow your net worth. If your answer is no, don't borrow the money. If your answer is yes, by all means go ahead. If you aren't sure, then take the time to become sure!