Don’t Be Like a Boiling Frog When Dealing With Debt
Leap Into Action Before It’s Too Late
It is a proven fact that if a frog is placed into cold water and heat is applied at a steady pace until boiling, a frog will remain in the water throughout until it eventually dies. However if a frog is submerged straight into boiling water it will immediately jump out and thus be saved.
This sadly can be applied to many of our everyday lives especially when we are facing debt issues. Like the frog facing a slow death, many of us often know that out debt is escalating out of control but we choose to bury our heads in the sand until it is too late. However when we are eventually faced with the reality i.e. losing our homes and all that we have, then like the frog in boiling water , we will then choose to take drastic action and jump into action.
There are many routes that can be taken to try to get out of debt .However whichever of these ways you choose, you will need to evaluate your life and change what you are doing as evidently whatever you are currently doing is not working for you. Failure to do so will result in financial suicide and terminal poverty.
The first evaluation needed is to take a look at what is being spent on a daily basis to establish whether any cutbacks can be made to save money. It is surprising how much money can be saved even by ensuring that we only purchase items on our shopping lists and by trying supermarket own brands.
Money can also be saved by other simple measures such as monitoring the electricity and gas that we use or by only having one line on a lottery ticket rather than several.
It is useful to also check whether any credit cards can be transferred to new zero interest ones.
All the above measures can help to reduce our overheads and debt.
The important thing to remember is that anyone is capable of doing anything they set their minds to. We merely need to adopt a positive mindset and make changes to our lives in order to start reducing our debt.
Another means of reducing debt is by looking for ways to create extra funds. One way to achieve this is by setting up your own business. There are many different opportunities available that can be started from home. This is particularly advantageous as there are very little start up costs and overheads.
All you need is self belief, finding the right opportunity and often a small investment that will lead to greater things in the future. Your business can be literally a small commute from your bedroom to your study. There is no dress code and you could merely turn up for work in a pair of slippers and shorts.
Many people don’t start their own business as they feel that they do not have sufficient funds. However many business opportunities actually have low start up costs. It is surprising that if we were to again review our weekly costs and not only reduce on essentials but also on hobbies and non essentials, how the small amount of money required for set up costs could be achieved. As the saying goes “where there’s a will there’s a way”. Often something of a lesser value traded now could be rewarded for something of a greater value later.
However if you consider taking advantage of any of the business opportunities available, it is crucial to thoroughly research the business to ensure that it is a genuine opportunity and not a scam.
Finding a genuine business opportunity that is right for you can be life changing and be a big step in the process of eliminating your debt.
Whichever way you choose to reduce your debt be sure to act before the debt escalates out of control. Do not wait until it is too late… Do not be a boiling frog!