Debt is a good place to start building wealth! Many people have! Fully understand the enemy and you’ll fly. Consumer debt is usually where a ‘household’ gets into financial difficulty and has a fixed or no income. Stop over spending, learn how to budget, pay creditors back very slowly – on your terms – pace them! Above all, find a way to increase your disposable income. This means getting job or second job or preferably starting a home business. I have never known anyone to get out of consumer debt without increasing their disposable income. Ever! Business debt is different. Massively increase your profit margins, drastically slash overheads, pace creditors, make every single employee earn his or her keep, increase turnover, get creative, set goals, give incentives, create multiple streams of income all based around a similar theme, learn cost effective guerrilla marketing tactics, change industries, products and tactics if necessary. Don’t get up and go to work get up and go to war!
I have been helping individuals and companies get out of debt and into money for over 32 years. Check out Debt Free With Financial Kung Fu!