How to Get Out of Debt in 7 Baby Steps

"How can I get out of debt?," you may ask. Deep down, you know that debt is a financial bondage. It is a difficult task, admittedly, seeing that the debt may be massive. Yet, if we take baby steps, we will eventually get out of it.

How Much Debt Does the Average Person Have in the US?

An office worker adds yet another wealth-destroying debt into his already over-flowing sack of debts, and he wonders how he can get out of all this debt.

The Lexington Law Firm wrote, “Average consumer debt per capita is approximately $12,687 (total consumer debt as of November 2019/total US population as of January 9, 2020). . . Average loans per student equal approximately $82,170 (total student loans in September 2019/total students enrolled in public or private universities in 2019).”

Forbes wrote in February 2020, “Student loan debt in 2020 is now about $1.56 trillion. The latest student loan debt statistics for 2020 show how serious the student loan debt crisis has become for borrowers across all demographics and age groups. There are 45 million borrowers who collectively owe nearly $1.6 trillion in student loan debt in the U.S. Student loan debt is now the second highest consumer debt category - behind only mortgage debt - and higher than both credit cards and auto loans.”

Is Financial Freedom Only For the Rich?

Finally financially free! Jump for joy!

I used to think that financial freedom is only for the rich. I don’t believe that anymore. Why? This summer I read a book that caused a paradigm shift for me: Rich Dad Poor Dad: What the Rich Teach Their Kids About Money That the Poor and Middle Class Do Not!

Multiply Your Money x30: Buy Silver Mining Stocks

Silver is rising fast. And it will skyrocket any time now! I've already written that buying silver bullion will multiply your money x10. Now, I want to share with you how to multiply your money x30. That's right. 30-fold! This is the best way to make passive income, especially on making money online. This is THE most effective way to work from home.silver minining pick ax

Purchase silver mining stocks to multiply your money x30. As with all things, high rewards come with high risks. Therefore, make this speculative investment a small percentage of your overall investment, if you are conservative like me. Secondly, reduce your risks further by investing in multiple silver mining stocks. The list below is a mix of producers, near-term producers, and development projects in quality properties with long-life mines. I would avoid ones with high-risk locations or problematic management teams, which, of course, did not make it on the list below. Other than that, many of the mining stocks will perform excellently when the price of silver skyrockets.

Multiply your Money Infinitely - Invest in Real Estate

How do you multiply your money repeatedly and infinitely? You invest in real estate. Why is investing in real estate one of my favorite way to multiply money? Four powerful reasons: you can have an infinite return for your investment, simultaneously gain four streams of income, have more control over your success, and you can even accelerate your rate of growth. All of this growth means you can achieve financial freedom sooner. That is freedom to spend time with your loved ones, time to travel, time to spend on your hobbies, time to yourself, and whatever else you want to spend time doing. So let’s unpack what each benefit means.

Gain Infinite Return on Passive Income

According to Robert Kiyosaki, best-selling author of Rich Dad, Poor Dad, “Passive income can be described as income that is received at regular intervals that does not require a lot of work to sustain it — money that you automatically make whether you work any more or not.” When you invest your money (i.e. in precious metals, in stocks, in affiliate marketing, in real estate, etc), you take a bit of time to set it up and you let it passively work for you while you are free to go do something else. Once you buy your property, you can just leave it to appreciate in value as you pay your mortgage— year in and year out. But there’s more, appreciation is only one of four streams of returns.

Will God Provide for ALL My Needs?

“But seek first the kingdom of God and his righteousness, and all these things will be added to you.” (Luke 6:33)

What are “these things” God will add to us if we seek first His kingdom and His righteousness? These things are: What shall we eat?’ or ‘What shall we drink?’ or ‘What shall we wear?’ Jesus reassured us regarding “these things”:

1) Gentiles seek after all these things.

2) Your heavenly father knows that you need them all. (v 32)

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