Make a Decision Today to Get Out of Debt REIIYC Episode 1083
I\u2019m in the car again on a Tuesday morning and I thought I\u2019d spend some time talking about some great advice I just received from my buddy, Steve. I know I talk a lot about real estate investing, making money, and doing deals, but there\u2019s another key to financial freedom \u2013 getting out of debt. It may just be the most foundational key.
In addition to getting out of real estate-related debt, getting out of consumer debt like your credit cards and student loans is just as, if not more, important. Too much of it can kill your momentum and completely sabotage your business efforts. A smart idea would be to take any profits you\u2019re making off your early real estate deals and put them towards paying that personal debt off as soon as possible.
When you\u2019re debt free, you can live a life of luxury for much less than you think. And when you\u2019re able to live off less, you don\u2019t have to work as hard and do as many deals to keep up with a lifestyle that makes you and your family happy. Getting out of debt isn\u2019t fun and it can be hard work, but it pays off in the long run and can get you on the fast track to your dream life.
What\u2019s Inside:
\u2014The importance of getting out of debt.
\u2014How too much consumer debt can sabotage business efforts.
\u2014Why you should prioritize setting aside money for Uncle Sam.
\u2014How getting out of debt can help you quit your job faster.