Debt is a nightmare for many.

Damn easy to slip into and really hard to get out.

You will find no shortage of lenders willing to help you mortgage your future income in return for something today.

They are lining up to offer you a ‘have now’ solution. A ‘no need to wait option’. Only this is the trick they play on your mental state. 

The promise that having ‘it’ now will change your life, will make everything better.

Only…

None of it does. 

So this is my big idea, the MoneyTrainers no hype guide to managing your debt.

Work out what the priority – bite you on the bum debt is.

This is the debt where you could end up in court, lose your house, kids, job or the lights go out type of debt.

You and I can call this “bite you on the bum debt”. Once you know what that is then lets focus on separating the two. 

Bite you on the bum debt/won’t bite you on the bum debt.

Which is things like loans, credit cards, unsecured debt of any type.

Once that is done. We need to make sure income goes towards the BYOTBD first. Or we negotiate a reduced payment if there is nothing left at the end of the month.

The rest we can move to token payments £1 per month until things start to get better.

Got that sorted, now we can focus on the structural issues. Why are you in debt? Health, poor spending habits, not enough income, is a side hustle needed?

Whatever the problem is, and there is always a problem somewhere. Most of it’s us, yup me included, I have been there. Solving that problem is where  we need to flip back to in order to work through this. 

I assure you, this will pass. We can arrange a plan to solve this. It won’t last forever. With some simple MoneyTrainers – one to one help I can get you out of most debt holes, including helping  you with bankruptcy  (it’s not as bad as people make out) but there are plenty of other stages to work through before we get close to that.

Main thing. Don’t struggle on your own.

Don’t try and deal with it yourself.

If you are self employed keep focused on income – more of that will solve all problems.

And get in  touch or arrange for a Borrow MY Brain I know I can change your life (big words I know – I can certainly make you feel better about your debt – and help you through it).  Debt Advice For Those Who Are Struggling

My free of charge guidance – this will pass. It just needs a plan.

We all need a plan.

Most people don’t have one.