Transformational Leadership Blog

Are you merely surviving from one paycheck to the next one? Is it barely enough? Can you say that you are truly living a fulfilling life?

Sit in front of television and you’ll be subjected to hundreds of commercials and advertisements telling you to buy this and that! Too often though, instead of reaching for the remote control, we reach for our wallets and compute how much we need to spend for the goods and services we see on TV!

Sometimes, the results can be devastating. When emergencies come, you become suddenly out of cash. Good for you if you have friends you can borrow money from. But what if they are not around? What if they do not want to give you money?

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Most of us need that occasional boost of finances whenever we find out that our income falls short of our spending. We borrow money from various sources—friends, family members, banks, credit cards and even loan sharks! But what happens if you accumulate more debt than you could ever handle?

Here are some tips to help you get out of the deep hole of personal debt.

1. Take stock of all the debts you have.

Go get pen and paper and list down EVERY SINGLE LOAN AND DEBT that you have. Your debt may have come from banks, credit cards, loan sharks, friends and family members. Take note of all of them. Add them all up so you can get a good idea of how much you owe.

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