Scott Wright - Money Management: An Essential Guide on How to Get out of Debt and Start Building Financial Wealth, Including Budgeting and Investing Tips, Ways to Save and Frugal Living Ideas

Money Management

An Essential Guide on How to Get out of Debt and Start Building Financial Wealth, Including Budgeting and Investing Tips, Ways to Save and Frugal Living Ideas

Copyright 2019

All Rights Reserved. No part of this book may be reproduced in any form without permission in writing from the author. Reviewers may quote brief passages in reviews.

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This book is for entertainment purposes only. The views expressed are those of the author alone, and should not be taken as expert instruction or commands. The reader is responsible for his or her own actions.

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Introduction

H ave you ever wondered how some people earn a small income, and they never complain about it, and then some have a lot of money, but they cant manage to pay their monthly bills? Or how millionaires manage their money?

One of the most important steps towards being independent is financial independence. This means you are in total control of your expenses and the money you make.

Money is crucial when it comes to living well in the community, but you dont need too much money to become independent, happy, or even successful. You merely need to know how to control your expenses and manage the money you have so that it can work for you.

Debts can be a source of worry and anxiety for many people, and sometimes, it can be tough to know where to start when you want to manage your financial debts. This book will help you to get started on the path to paying off all your debts and become debt free. The book will provide you with a clear picture of how much money you owe, and to whom, how you can contact credit card companies and negotiate interest rates, how you can prioritize which debt to pay off first, which strategy to adopt to clear your debts, and how to create a budget. Also, the book is meant to teach you the most important aspects of personal finance.

Besides that, you will further learn how to get started with investments and make sure that your money works for you, and not the other way around. You will be taken through many exciting tips and lessons that you should follow to fulfill your financial goals. Get ready to learn interesting stuff, including how you can become debt free without much hassle.

Chapter 1: The Money Mindset

D o you have a massive debt? Are you feeling stressed about paying your debts? Do you struggle to make ends meet? Do you find it hard to pay your monthly bills? Do you find it hard to save? Are you living in fear of losing your home?

If you answered yes to any of the above questions, you arent alone. According to the United States Census Bureau, it is estimated that more than 69% of Americans are in debt. Also, colleges students are said to have, on average, $35,000 in student loans.

Everyone has gone through a financial crisis at one point in their life, including the wealthiest people in the world. Debt can be overwhelming, and if not handled well, it can lead to depression. If you are one of those people who is experiencing a financial crisis, keep in mind that no problem is permanent. In fact, there are numerous options that you can take to start fixing this problem.

Many people want to be debt free, but borrowing money is not a bad thing. Debt can be good or bad; it just depends on how you look at it.

Despite this, debt has been linked to negative connotations. Most people cast down their heads when the talk of debt emerges; some even feel embarrassed about it. If you let debt control your life, then it can generate more and more anxiety.

Debt happens; it is part of life. It is not a bad thing like the way people perceive it. In particular, debt causes a positive effect. Just because someone owes you money, doesnt mean that you are financially struggling. What is important is how you approach it.

When feeling low about your financial problems, just remember that debt can be a means of buying a home that you have always dreamed of. In other words, not all debts are equal. If you are already in debt or youre worried about getting into debt, read on to learn more. Understanding debt is vital to both financial security and financial literacy.

Debt is not a life sentence. It can be a way for you to examine your financial priorities and adjust your life.

Debt is debt until you give it meaning

One of the life-changing magic points from Brooke Castillo originates from a famous quote: Your thoughts create your feelings. Your feelings create your actions. Your actions create your results. Circumstances are neutral.

So in simple terms, Brooke Castillo is saying,

Thoughts=>Feelings=>Actions=>Results.

Brookes quote simply sums up how the universe operates. If you go to learn about personal development and psychology, youll learn the same thing. In other words, it is not made-up stuff by Brooke, but he nicely polished it.

Indeed, circumstances are neutral. They are neither good nor bad. They are simply facts.

If you still have problems in understanding this, read these two examples.

First, consider a peach. You might love peaches, and someone else hates them. Neither is the peach good nor bad; it is just a peach. The peach doesnt turn bad or good until we consider it bad.

Secondly, lets look at the idea of death. Many people die every day. However, we are unaffected by it. And we have to be. There is no option. We cant go around being depressed about losing people we dont know. But the fact remains that people are dying. We grieve when someone we love passes on. Why? Because we have taken the time to think about death. We have given death meaning. This applies to everything.

Going back to where we left off, circumstances are neutral. You have the power to make them mean whatever you think about. And debt is not an exception. In other words, debt is neutral. Neither bad nor good.