Let me share with you a story that I’ve seen and heard too many times.
A young man and a young woman graduate high-school and go on to attend university or college. Since no money has been saved for the tuition fees etc. and since credit is so readily available, they both obtain student loans, lines of credit, credit cards and accumulate a lot of debt. They might work a bit during the summers, but the course load is too much during the rest of the year to maintain much of an income to support their lifestyle while in school.
At some point this young couple meet, “fall in love” and get married.
After they have finished their schooling, they both get full-time jobs and purchase automobiles with 0% financing. Not long after that, they purchase a home but because they still have next to no savings, they borrow most of the down payment from their parents and take on a huge mortgage.
The student loans, credit cards, car loans and big mortgage accumulate to a huge amount and they start to encounter significant financial problems. At this point, they ask each other “how did we ever get into this financial mess?”
Unfortunately, this couple has been violating many financial principles for years and are suffering the consequences.
Not only do I see and hear this story on an almost daily basis in my work but just over 14 years ago this was me. After I got my financial house in order, I became a financial advisor specifically so that I could help others avoid the same mistakes I made. Join me on this journey to debt freedom and a life of abundance!
If I could show you a way to reduce the interest paid on all of your debts, free up cashflow and be debt free years sooner, would that be a conversation worth having?
Of course, it would!
Reach out in the comments below or send me a private message @laurencsheil for more details and start living life to the fullest without the burden of debt!