Debt Reduction: Amazing Little-Known Secrets about Eliminating Debt

Debt reduction should be a key focus for anyone with personal debt and especially anyone with personal loans they are finding difficult to pay each month. Experts recommend debt consolidation loans for recovering control over multiple loans and getting on top of personal money management. However, there are also other amazing little-known Do-It-Yourself steps you can take yourself to eliminate debt faster.

Rising interest rates, multiple personal loans, mortgages, large credit card liabilities and unemployment are making it increasingly difficult for people to meet their monthly loan repayments that, in the good times, weren’t a problem. If this is your situation you will be all too aware that missing loan repayments causes a lot of stress and will result in you developing a negative credit history. This decreases one’s credit worthiness with financial institutions and therefore your ability to borrow. And access to credit and borrowing (used wisely) is essential if you wish to create wealth using Other Peoples Money and develop financial independence and later financial freedom.

Nowadays, many people are going for Debt Consolidation Loans or what they call Secured Personal Loans to get on top of their monthly repayment needs. Ideally before taking out a Debt Consolidation Loan or a Secured Loan, you should explore other credit management options such as:

1.0% Credit Card Balance Transfers

This is essentially moving some of your existing high-interest credit card debt to a new credit card provider with a 0% interest rate. Typically, you will get 0% interest on balance transfers of existing debt for 6-12 months. Used correctly, this is one of cheapest forms of borrowing. But the one caveat is that you need to be sure you can pay off the balance before the 0% interest period expires.

2.Paying off Debt Using Savings

It is a much better money management principle to use your savings to pay off debt; the interest on savings accounts is always going to be much less than the interest you pay on loans. There is little point in having savings on one hand and personal debt on the other. When you think about it, you’re basically borrowing from yourself and paying interest for the privilege which is pretty crazy! ... (Paying Off Your Debt - read more)

3.Remortgaging

Remortgaging (sometimes referred to as refinancing) is basically swapping your mortgage from one lender to another. Your objective is to get a lower interest rate from the new lender. Make sure to check if there are any charges for switching. Remortgaging your home to pay off personal debt is overall a bad idea. The primary purpose of remortgaging is to reduce your interest rate and monthly mortgage payments. (Remortgaging - read more)

4.Renegotiating

Everything in life is negotiable, even debt! Only one thing worries a lender more than not making profit and that’s bad debts i.e. not been able to collect the capital amount lent (never mind the interest). So, you can renegotiate interest rates, payment term, fees, penalties etc. Never take a payment demand at face value. Ask and Negotiate. (Renegotiating - read more)

Be wary of debt consolidation and secured personal loans. Taking on debt to pay off debt is ultimately a bad idea. Trying to borrow your way out of debt could possibly lead to even greater financial difficulties.

Mastering debt reduction will ensure that money you earn isn’t flitted away carelessly and that you get to secure your financial independence! Discover debt reduction, money management and wealth creation techniques. Sign up for Millionaire Mindset Secrets for FREE now, you'll get instant access to insider secrets on Debt Reduction - www.millionairemindsetsecrets.com

The Science of Getting Rich – How Anyone Can Become Rich – Part 3

If you have read the two previous posts on “The Science of Getting Rich – How Anyone Can Become Rich then you will already have discovered that being creation oriented rather than competitive and; thinking and acting in a Certain Way will result in you becoming rich. Here in Part 3 we further explore practices in the science of getting rich.

In business, the key-thought in all your efforts must be to convey THE IMPRESSION OF INCREASE in other people’s minds. Continuous advancement and increase in life is what all men and women are seeking. People are attracted to those who can give them more of the means of life and this attraction will result in you becoming rich.

The Advancing Man

THE ADVANCING MAN is one who holds a clear vision of himself as successful in his field, who obeys the laws of faith and purpose, and gratitude. No matter whether you’re a wage-earner or a businessman; whether you’re a doctor, teacher, clergyman etc., you will attract a large loyal following and never be “out of a job”! …(read more)

Some Cautions – There is no limited supply of wealth. Don’t spend any time worrying about how you will meet possible emergencies. Concern your mind with doing today’s work in a perfectly successful manner. No possible combination of circumstance can defeat a man or woman who is proceeding to get rich in the Certain Way…(read more)

Guard Your Speech

Guard your speech. Never speak of yourself, your affairs, or of anything else in a discouraged or discouraging way. Never admit the possibility of failure. Never speak of times as being hard, or of business conditions as being doubtful. When you operate on the creative plane, you can create what you want. When others are having hard times and poor business, you will find your greatest opportunities. Train yourself to think of and look upon the world as something which is becoming, growing. Never allow yourself to be disappointed. Do not hesitate or waver with fear, go on in full faith…(read more)

The Science of Getting Rich may be a hundred years old but Wattles’ ideas are as relevant today as they ever were. Make sure you read more on The Science of Getting Rich Here

The Science of Getting Rich - How Anyone Can Become Rich - Part 2

Do you dream of getting rich? Well, a very simple book called ‘The Science of Getting Rich’ written by Wallace D. Wattles a century ago sets out how anyone can become rich.

If you have read my previous post called “The Science of Getting Rich - Can Anyone Become Rich? - Part 1” then you will already have discovered that everybody has the right to be rich; that we must get rich in order that we can

To set about getting rich you must learn how to use the wall upon yourself. It’s important not to force others to do what you wish done. When you have the picture of your desire strong in your mind all things in the universe are stirred toward bringing what you want into being. There is no room for doubt or unbelief. You must guard your thoughts from poverty if you want to become rich. The poor cannot be helped through charity alone; they need inspiration. Getting rich is, according to Wattles, the best way of helping the poor.

Creation NOT Competition

Further use of the wall - you cannot attain wealth if you hold opposing images of poverty and wealth in your mind. So, there’s no point talking about past financial disasters if you want to focus on getting rich. Think of yourself as becoming rich, instead of growing out of poverty. Be creative, rather than competitive and you will attain riches... (read more)

Getting into the Right Business

You can become successful in any business if you have the right faculties and skills. These are your tools. However, it will be easier to succeed by getting into the right business and using these tools in the right way. It is best to select the business for which you have the best developed talent and ideally one which you have a strong desire for. Desire brings power. This will result in your getting rich more easily and also with the most satisfaction. You may have to spend time doing what you do not like in order that you make it possible to do what you want. The best way, generally, to change business or environment is through growth...(read more)

The Science of Getting Rich may be a hundred years old but Wattles' ideas are as relevant today as they ever were. Read more on The Science of Getting Rich Here.

The Science of Getting Rich – Can Anyone Get Rich? Part 1

Wallace D. Wattles, in his 1910 book The Science of Getting Rich, details how you can get rich but his reasons for doing so are much more than the simple attainment of money and wealth. Prosperity – however you define it – is a timeless desire. According to Wattles, getting rich has a very important premise: He asserts that the desire for wealth is not specifically or solely centered on money but rather it is a measurable way of expressing our desire for a fuller, better, more meaningful life. Below are outlined some of the key ideas from the book which I believe are essential for the creation of wealth.

• The Right to Be Rich – According to Wattles each of us has the right to be rich. He asserts that it simply isn’t possible to live a really complete or successful life unless one is rich.
• The Science of Getting Rich - an exact science that has nothing to do with your environment or the possession of talent.
• Doing Things in a Certain Way – Getting rich is the result of doing things in a Certain Way that causes success.
• The Abundance of opportunity – Opportunity is everywhere for the man who will go with the tide; instead of trying to swim against it.
• The Power of thought – Having the right mindset is the first step toward getting rich.
• Increasing Life – You are neither destined to be poor nor rich. Life’s purpose is increasing life so we must get rich, so that we can live more.
• How Riches Come to You – have a clear picture in our mind and claim it as if it were already ours: in other words, we must dream big, see it clearly and behave as if we have already achieved the thing we desire!
• Gratitude – Gratitude will ensure your thinking is that of supply as unlimited. Faith is born of gratitude.

The Science of Getting Rich may be a hundred years old but Wattles’ ideas are as relevant today as they ever were. Read more on The Science of Getting Rich Here.

The Millionaire Mind – Can You Think and Grow Rich!?

You know, being a millionaire and creating wealth is not the be all and end all. But having a millionaire mind and financial independence is a helluva lot more fun than having a poverty mindset and being broke! And it will give you the freedom to live the life you want to live...on your terms! Can you do so without money? Maybe! But it’s gonna be a heck of a lot more difficult, if not impossible, and you’ll end up compromising! So, read on to find out how you too can develop the millionaire mind.

Here are a few things you need to know about in order to develop your mind into one that will turn you into a millionaire:

1. There is Science to Getting Rich

In the book, ‘The Science of Getting Rich’ by Wallace D. Wattles, the central argument is that it’s not possible to live a really complete or successful life unless you are rich. The idea being that you can’t unfold your true potential and experience all that life has to offer if you are poor... (read more)

2. Change Your Thinking, Change Your Life

Wealth is a result...and more than any other thing it is a result of your mindset. Having the right mindset is the key to developing the millionaire mind. Unfortunately, conventional systems and institutions unwittingly teach us to go to school, then university, get a job, and get married, etc., without ever showing us how to develop our minds to their full potential. ... (read more)

3. Mind Rehearsal

In much the same way as you’d rehearse for a sales presentation or a concert you take the same approach with your mind. You practice until your new way of thinking becomes automatic i.e. the successful outcome is imprinted on your unconscious mind so strongly that your conscious thoughts are programmed for success. You basically visualise and rehearse circumstances, feelings, places etc., in your mind in order for them to manifest. This ‘mind rehearsal’ is in my opinion the most important thing you will do in your life... ... (read more)

So yes, you can literally think and get rich; so long as these thoughts are imprinted on your unconscious mind and you act accordingly. There’s a lot more on this subject than I can cove here.You can discover how to program your mind for success and begin using millionaire mind strategies.