Scott Lee: Losing debt lightens the soul

Scott Lee

IMAGINE being debt-free... what would that feel like? No credit card debt to pay every month, no HPs, just your money in your pocket. In a word, FREEDOM.

I know this feeling, it's awesome and I know many others that are beginning to experience this feeling too.

What if I told you that since November 2015, I have been working with 10 wonderful people with almost $270,000 of personal debt. In that five months they have repaid over $63,000 and paid off 12 of the 52 debts they owed. That's more than $10,000 a month repaid and 2+ debts a month repaid.

It's amazing! And it's all because of the action they have taken.

When someone sits across from you and smiles because they know that the hard work will be worth it and they can see the way out, it feels good, for both of us. I love that moment of realisation.

I had someone smile like that yesterday as they said: "I rang the finance company to get a balance and they said they owed me money." This only occurred after six weeks of wondering how they could do it.

So why do this? Why pay off personal debt?

Because when you do, your life and money truly becomes yours and you can achieve anything you want when all the money you earn goes into your pocket.

Here's some tips for getting out of debt fast:

1. Know that it's ok that you have this debt, it's just a part of life and there is no blame or shame in having it. Just enjoy the process of repaying it, celebrate every payment you make that brings the balances down.

2. Transfer the balance to a zero per cent option at another bank where you can and keep paying the same amount you were paying when you were paying interest.

3. Pay extra on the balance, whatever you can afford and watch the debt disappear really fast.

4. Start with the smallest debt to ensure you feel good quickly because the first win happens fast.

5. Repeat until debt free.

The process of repaying debt is easy to write about, the desire to repay debt is easy to generate, staying the course is the hardest part. We're human and these days we want things to happen straight away, when it doesn't happen quickly we get despondent and stop.

I know this, because I did that plenty of times. What I also know is with a desire to learn, a reason to be debt free and good support, it can be achieved.

The reason I support others in their process of becoming debt free is because the benefit to both of us with our happiness and wellbeing are immense. When we achieve our goals, it helps us dream about what other goals can be achieved. That is true satisfaction and aids our wellbeing.

This is also the reason I am teaching our children in Whanganui to avoid these money pitfalls next week. Because I want them to live a happy and fulfilled life. When we know we can have it all, without debt, it makes our lives so much more fulfilled.

-If you would like support with your debt repayment journey or your children to learn how to avoid these money pitfalls, call or text me on 027 236 7729 or email me at scott@loveandmoneynetwork.com.