How To Get Out of A Debt Hole
b"https://www.youtube.com/watch?v=EQ8WLNAMNwY\\n\\n\\n\\n\\n\\n\\n\\n\\nDebt can cripple your finances and your life, but if you find yourself in a debt hole what can you do to get out of it?\\n\\n\\n\\nI personally found myself in a lot of debt, experienced the overwhelm and had to claw my way out of it. Here are some of the things that helped me.\\n\\n\\n\\nFree budget template\\n\\n\\n\\n0:00 - Introduction1:05 - Being in debt is super common1:42 - Admit that you messed up3:39 - Write down all of your debts4:45 - Let the overwhelm wash over you5:26 - Create a budget where your debt payments are automatic3s7:16 - You may need to take drastic action8:42 - Stop yourself getting into more debt9:11 - Accept generosity but don't expect it10:39 - Bring people around you who will support you paying off your debt11:39 - Focus on earning more money13:48 - Build up a buffer15:22 - Pay off those debts in a way that works for you17:32 - Summary\\n\\n\\n\\nRecommended Videos:\\n\\n\\n\\nThe 15 Minute Budget\\n\\n\\n\\nHow To Deal With The Emotional Stress of Debt\\n\\n\\n\\nThe $1,000 Project Book Review (By Canna Campbell)\\n\\n\\n\\nHow to Deal with Debt Collectors\\n\\n\\n\\nTranscription:\\n\\n\\n\\nRyan 0:00Debt can be extremely crippling, it can cripple your life obviously cripple your finances, it can cripple your emotions and just make everything really hard to deal with. And it can be really hard to get out of that debt hole. Last year after a separation and relocation into state, I found myself in quite a bit of debt and in my own debt hole. And it really took me a year to 18 months to really get on top of that debt. And to get out of that debt hole and feel like okay, I'm on top of this, now, I can see that this is going to be paid off in the future. So I'm not completely out of debt yet. But I'm out of the worst of the situation where it's like, this is just, I'm completely in this hole, I don't know how I'm going to get out of it. I don't know how I'm going to afford to pay this debt and continue to live my life and kind of come through that journey, and come out of it. And hopefully, you can learn from some of my experiences. And what I did, hey, I'm Ryan from OnProperty, helping you on your journey to financial freedom. And let me just first say that being in debt happens to so many different people. So it's nothing to be ashamed of. And if you're listening to this, and you're in debt, and you want to get out of it, then good for you. Because most people won't actually sit down and watch something like this or go through the steps to get out of it. They'll just live in it for the rest of their lives. So I applaud you for stepping up to the plate, and for actually trying to get out of your debt hole. So how can we do it, I will say this is not financial advice. I'm not a financial advisor. This is for general educational purposes only. And something that helps me, I think the first thing that is really important to do, or at least was important for me, is to just admit that you fucked up, like admit that you did something wrong and that your past self didn't make the greatest decisions to put you in the best position. Now that might be you were just frivolous with your money and you were being silly, it might be that you didn't have the foresight that you have. Now, it might be that things happen that you didn't predict or didn't prepare for. For me, I was financially free through my businesses, or I call pseudo financial freedom. My businesses were kind of earning enough money that I didn't really need to work much. But I live right on the line, or maybe a bit over it. And I didn't build any buffers into my life. And then what happened was I went through a separation business went through a downturn. So my expenses went up significantly, at the time, my income dropped, and there was all of a sudden this big gap. And really quickly, I went into a decent amount of debt, a significant amount of debt for me. And so, you know, that kind of happened. And there was mistakes that past Ryan made. that put me in that position,"