How to win your war against debt?

May 4, 2010 by Victorino
Filed under Debt Management

I understand that in every battle, time is an essence. Hence, this will be a quick article for everyone to read. In a short time, the reader will be able to know how to win his war against his debts, as well as his financial freedom. The following are the keys to defeat debts:

Prevent the battle
Prevention is still the best cure even as against our debts. The supreme warrior is one that can win a war without going into a battle. This is possible through planning and making precise calculations. The person who wins is the person who has the best plans and most precise calculations. Therefore, before we spend, let’s first calculate and see to it that it is according to our strategic plan. This is to assure that we will not be fallen into the necessity to rumble debts.

Be a great leader
To gain victory over our every endeavor, we should become great leaders of our selves. We should manage and control our selves efficiently and effectively. Great leadership is a combination of gentleness and strictness. Hence, be gentle on your expenses and be strict on your self-imposed rules and policies.

Be a great spy
This is applicable to the things around you and to the things within you. To achieve triumph, we should always gather enough information that will help us decide the best financial decisions. Let us research every loan products like payday loans, debt consolidation, unsecured personal loans, and other loans if they are advantageous or disadvantageous to us. Let us be wise and be careful not to fall unto their traps. More importantly, we should also take the best efforts to know our selves – just like spying on ourselves. Monitoring and tracking our personal financial behavior (our weak points and strong points) will help us place our selves in the right financial position.

Energy and rapidity
Being in war means we need to set ourselves on fire. We need to defeat our opponent by attacking him like a lightning, which is full of force and speed. To annihilate our debts, we should act at the earliest possible time – NOW. There should be no time that will be wasted, as well as strength that will be wasted. We should preserve our momentum, which is also a very important ingredient in winning every battle. Therefore, if you are not doing anything to extinguish your debts, start doing something now. Do what should be done and stop what should be stopped.

Deploy your army
When battle has not been prevented and you have no choice but to face that battle, then you need to position your army. In your war against your financial woes, your army consists of your self as the general or commander and your men as your assets and resources. Your resources could be tangible or intangible and humans or not humans. Your tangible resources could include your properties (real estate or personal) and your intangible resources may consist of your attitudes, knowledge and skills. Your human resources may compose of your relatives, friends, allies and affiliates. Your not human resources could include your location, weather, economy which are advantageous to you. Now, all you have to do is to gather and organize all these resources of yours and deploy them effectively as your army to defeat your enemy – your debts.