An very Insightful 8 Characteristic to adopt for clearing your debts

2nd Characteristic - Set Goals And be Absolutely Committed to Them.
 In other words, I meant creating a financial plan, a plan on how you are going to spend your every dollars. I know you have never done it before and this is perhaps the ultimate reason why you are in debts! This is very crucial to repaying of your debts because you would tend to lose focus during your journery to clearing your debts and this financial plan will act like a negative feedback mechanism to help you.

Setting financial goals meant that you must state down precisely how much money you are going to spend on every aspect of your life, be it food, transport, bills, insurances etc... it is only by noting down the precise amount of money you are going to spend then you can calculate the precise amount of money you are able to save each month. Once you are able to know how much you are able to save each month, you will be able to know precisely when you will finally be able to clear your debt.

Next step you are going to take is to be absolutely committed to the financial plan that you just wrote down. Seriously, what the point of writing down a financial plan when you aren't bothered to read them? Decorating your unused papers? One of a very good way that I am using is to stick those financial plan on your cupboard so that everyday you wake up, you will be reminded well to stick to your financial plans or risk paying more.

I know raking up a debt is an embarrassment to you and your family and don't want to let the world know. However, this particular habit of covering up the fact can very well kill you and your desire to clear your debt.

So stay tuned to the next posts
3rd Characteristic - Overcoming Embarrassment and cynical remarks.