FORMS OF DEBT ELIMINATION
Wednesday, June 2, 2010 2:30Be very careful with items that only give costs. Make the planning of all its assets.
This is the 5th and final article of the series “Ways to eliminate debt.” In this, I want to deal on the sale of assets to pay off the debts.
This form of debt elimination is not very nice, but sometimes is necessary. Giving up something you earned or received is really very difficult, but we take into account some items.
The tendency of a debt is normally grow. The one and in most cases, is the depreciation, carrying, if it is delaying much the sale of an asset value of the debt may far exceed over time.
Be very careful with items that only give property expenses as stationary (lots, sites, apartments rented by lower value), vehicles (cars and bikes with little time to use that require maintenance and taxes). In fact, we all have some goods that are not widely used and this can be a great opportunity to use them in order to kill or pay off the debt.
So far I have spoken only of assets whose values are high, but worth it. It’s like Pastor M?rcio Valad?o always says: “Look at your home, clean out, everything in your wardrobe there are more than 6 months you do not use, if it fails to sell and find out some money, at least you can donate and help other people. ”
Always warn my lectures so that people be very careful with the car they drive, the clothes they wear and, especially, with the house where they live. Your income includes all these fixed monthly expenses needed to keep them? I know people that for them to live where they are not getting a good car or other property. Of course each person has their goals, but very carefully!
Make the planning of all its assets. The goods are usually placed in the column of the balance sheet as assets, but Robert Kiyosaki, in his book “Rich Dad Poor Dad, says,” Be careful with assets that generate only passive. ” Translation: only goods that generate costs.
Sell a property to pay off a debt can be a stimulus to you to say: “I sold, but I will implement a new control of my finances and I will get another well into the future.” With planning, it is possible.
