Escape From Debt
I want you to be able to live a life that is fulfilling and rich - emotionally, physically, mentally and financially. If you are constantly at work, worried about money, stressed or running low on energy, how can you feel complete and balanced? - Tim Williamson
distinguishing between needs and wants
understanding how debt works
knowing your limitations and sticking to them
training your subconscious mind to work with you to achieve your goals.
In Escape from Debt, Tim Williamson shows you how to break the destructive chain of behaviour that makes getting out of debt so tough, and how to take command of your finances and life by:
With the resources and back-up you'll need to remain steadfast in your conviction, and an interactive format that will allow you a clear view of the new and exciting road ahead of you, Escape from Debt will free you from the habits and beliefs that have been holding you back - and give you a life you'll love!
Tim Williamson's revolutionary approach has helped people successfully get out of debt and change their lives for the better. He lives in Adelaide.
Escape From Debt
Author: Tim Williamson
Interview with Tim Williamson
What are the main tips you can provide to someone to help them Escape from Debt?
Tim Williamson: To truly escape from debt you need to first make a plan that will lead you out but you'll also need to create one that will help you to change your behaviour and beliefs towards using debt as a 'tool'.
What type of plan do we have to make?
Tim Williamson: The plan needs to be financial as a base but also needs to take into account your lifestyle, your desires and your goals. Knowing where you want to go makes the journey easier because it creates a blueprint that can be followed step-by-step.
How can we distinguishing between our needs and wants and why is this important?
Tim Williamson: This is absolutely vital because a lot of marketing now is emotionally based. The marketers know exactly how to tug on our heart strings or generate excitement. By determining the differences between what you want and what you actually need can help you to free yourself from choices that may not benefit you in the long term.
What habits are holding us back from getting out of debt?
Tim Williamson: Consumerism is a bad habit that we have gotten into. Keeping up with the latest fashions to try and impress other people is a common cause of debt problems. The most current problem we are going to face is the emergence of the phones that can do anything, latest computer gadgetry and 3d televisions. We don't actually 'need' any of these sorts of things. Personally I have an older CRT style TV and a laptop that is five years old that I have just placed bigger memory into so that it can keep up with today's programs - it works beautifully.
Can you share a few tips for those who are in debt and want to get out of debt sooner?
Tim Williamson: Watch the small stuff as well as the large stuff. Fuel vouchers are always in my sights. A truck with a 100 litre tank will only save $4 each time they fill up. Shopping locally, using the greengrocer, butcher and local services will reduce your fuel use and will allow you to gain access to better produce and wonderful advice on food preparation. Grabbing a market trolley and walking to the shops will give you less hassles in the carpark (you'll save on insurance as well as those unsightly dents in your doors) and will give you a good chance to burn some calories.
Use your plan to highlight the debt problems areas. High interest rate credit cards need to be targeted as do any of the pay-day type lender accounts. Consistent effort will take some time and won't always be easy or fun but the benefits will take you to an entirely new level in your life.
What are your most successful guidelines in regards to saving?
Tim Williamson: Start small. One of the most successful methods is to place 10% of your income into a savings account. Pay yourself first and give yourself that power. We can't have everything right now no matter what the marketers tell us. If you catch yourself about to make am 'impulse buy' place that money instead into your savings.
"That doesn't sound like any fun" you say.
Well, consider this. If you place enough money into your account then the bank will pay you interest on that amount. You'll soon see that you can build it to a level where the interest you receive will pay for clothing and ultimately cars. $15,000 in an account at 8% will give you about $100 per month in extra income.
What can a family or individual do to pay off their debt sooner?
Tim Williamson: Okay, first thing is to know exactly where you stand financially. Write everything down clearly and create a budget. A good budget will show you where you are and what you are playing with financially.
**A free budgeting tool (with instructions) is available online from M-Power-U Life Coaching.
Write down where you want to get to. What is your destination?
Create a plan based on your budget that will get you moving towards your destination step-by-step.Celebrate the wins. Each time you reduce your debt level by a thousand dollars or you pay off a card take some time to play some loud music and dance around the loungeroom. Have a little party and make yourself feel good. The more you pay off the better you'll feel, I can guarantee that.
Once you pay off your debts you'll find that you'll have extra cash to play with. Find a good financial planner or a mentor who can help you get started with an education in investing. Trust your gut feelings when it comes to investments and be sure to check the scamwatch website before you place even one cent into an investment. Remember, it's your money that you're working with so if you don't feel good about it, don't do it.