Financial Freedom Tip #1: Having a Clear Desire

In order to transform your current financial outlook, you must develop a clear vision for your future.  The following exercises have been designed to help you facilitate that change.

YOU MUST HAVE A CLEAR DESIRE. Our definition of a clear desire includes knowing exactly what you want to manifest and making a commitment to having it in your life.  In other words, the only option that exists in your mind is that you will manifest this desire.

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Financial Freedom Tip#2: Good Debt vs. Bad Debt

There are many limiting beliefs surrounding debt and I am sure you have heard people make the following statements several times, “I am just trying to get out of debt,” or “having debt is a bad idea.”  As children, we all may have heard these same types of comments from parents while growing up.  Our society at large has many limiting beliefs related to debt and these beliefs go back generation upon generation.  Debt can make a person feel enslaved because of the perceived struggle to pay off that debt or suffer the consequences of creditors taking possessions away. Subconsciously there may even be fears of prison or death due to debt because those were some consequences of debt that our ancestors could have feared.

It is important to note that there are two types of debt, “good debt” and “bad debt.”  Discerning the two is a wise thing to do, and the difference is very simple.  Good debt is debt used to leverage an asset or generate a money making event.  An example of good debt would be a mortgage on a house that you have as a rental wherein the rental income covers the mortgage payment and gives you some positive cash flow.  Bad debt is consumer based debt such as buying a big screen television on credit. In most cases a television is not a money making asset.  In fact, you lose money on it as soon as you buy it, much like a new car not being used for business.  It is financially healthy to have a low debt- to- income ratio in regard to bad debt.

You must realize, no matter how much debt you have personally accumulated, focusing on it (particularly the bad debt) will not allow you to become financially free in the way you desire.  The more you focus on debt, the more debt you will attract in your life.  Instead of focusing on debt, it is imperative that you focus on what you want in your life.  We recommend setting up a debt payback system such as paying a couple hundred dollars per month towards your principle balance due. By doing this, you no longer have to think about that debt and you can begin to focus on how you are going to make more money.

Now, let’s briefly cover good debt.  Using good debt can be a very powerful tool in creating monetary wealth.  It is essential that you identify any fears that when you take on good debt is counter to the law of attraction.  This is a great time to transform any limiting beliefs around debt so you can move into your leveraged investments (“good debt”) with fearlessness. This will cause the law of attraction to work in your favor and you will wake up every morning in a state of peace rather than in a state of anxiety.

Financial Freedom Tip #3- Shifiting your relationship to Debt

Facing your debt can be a confronting process.  It is important to completely assess your financial state in order to transform your feelings about it.  On the other hand, focusing on your debt will not eradicate it nor will it heal the relationship you have with your debt or change the fears you have about good debt.  The following steps can help you transform your relationship with debt, thus freeing you to attract the income necessary to eliminate your bad debt.

• Let it go!  Now that you have a clear vision of your debt, release it.  If you continue to concentrate on your debt, you will likely attract more debt into your life. The key point here is “Energy Flows Where Attention Goes.”  You need to begin to focus on what you want instead of focusing on what you don’t want.
• Rather than create a budget, create a revenue projection based on working at your ideal job or acquiring the investments you want.  By thinking about the possibilities in your future, you will begin to relax and release any undesired feelings.
• Keep track of the feelings that arise when you are spending money.  This is a good way to have a record of the thoughts you need to transform on a continual basis.

These simple changes will assist you in your journey to building a healthier relationship with your debt.