052 - 3 Ways To Get Out Of Debt

In this episode of the Mind Money Soul podcast, I'm going to beexplaining the top 3 debt-clearing methods, so that you can get out (and stay out) of debt.

Debt is considered a 'dirty' word, but when used properly it can actually be an incredibly useful tool. For example, if you buy a house your mortgage is technically debt, however the investment will grow profit or provide a return over time.

The problem lies in consumer debt - these purchases provide short term gratification but you won't make your money back on them in the long run. The best thing to do for your financial self and mental health is to create a plan to clear any debt you have so that you start to build real wealth over time and become financially free.

In this episode:

• The difference between using debt for financial gain and consumer debt

• 3 methods to clear debt

• How to create a plan for all of your financial obligations and debts

• How to work on your money mindset

• Why breaking the cycle will help you to stay debt free

Resources

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