Weight loss-Debt loss, same principle

Being burdened with high personal debt is like being overweight. It has the potential to make you feel sick, lousy and miserable. Every day is a hassle and the spark of happiness is dim. Getting your personal debt under control is very much like sensibly managing your weight.

The principles are similar in the requirement to establish an existing financial position( current weight) and then a realistic goal( target weight) and maintaining a healthy balance from that point on.

Of course, like in the world of fad diets and promised " magic pills, teas and voodoo" a lot of misinformation is being spread around. Every licensed medical practitioner will recommend seeking a dietitian and encourage regular exercise. Essentially it involves assessing negative behavior patterns and putting in strategies to turn everything around in a steady and progressive manner. Reality check, for nearly everyone it will take time and discipline.

Restructuring your personal debt and other liabilities will require assessments and placing real time strategies in place also. In quite a few scenarios, it is possible to absorb some debt into a mortgage, so it's weekly impact is reduced over time. It doesn't mean go and start making a mess of your finances again. It's a second chance to have a realistic lifestyle budget in place and have your life under control again. In other cases, reducing high interest credit card debt into a lower rate personal loan creates a timeline of debt reduction without the temptation to reusing the credit cards again while trying to pay them off.

The end result is still the same, lose that debt burden and just like the unwanted kilos, it will improve your outlook on life and everything will be better. If this is what you want, get in touch. I am here to help.