Are you a Prisoner to Debt?

Yes, it’s true. We were in jail. For 6 years.

Well, not exactly jail, per se…but it may as well have been in jail.

We were in bondage.

Such terrible bondage that there were days I thought we’d never be free. It was all-consuming, when I let it be, and there was not light at the end of the tunnel.

The story begins 2 years after we got married. We were expecting our first child, and invested all of our savings into a new business. That was the summer that it all changed.

Our bank accounts went from black to red for the first time. And they never recovered.

We were prisoners of DEBT.

I am a true believer that it takes money to make money. Our business started small, as did our investment. When our oldest daughter was but 4 weeks, we built a retail store from scratch. We painted the walls, hung the lights, laid the carpet (okay, we had some help from friends and family), set up the shelves, and opened our doors for business. But we soon realized that we needed more money to stock our shelves. We began to use credit cards–both personal and business.

Over the following 4 summers we continued to make improvements and adjustments to our business. Whenever we were short-staffed, we used temporary agencies like euworkers.fr to help fill in. We expanded in a new (very expensive) retail location, brought in more product, and in turn improved our gross income.

But the expenses ate at us. We were getting nowhere!  In fact, we were only digging a deeper hole!

Finally, after 5 years in business, we looked realistically at the numbers and decided to call it “quits.” We joyfully sold every display, rug, cash register, etc…and we packed our lives back into our van and small cargo trailer, and made our way south.

We drove away with large sums of debt. Large sums. We know that one of the first steps to achieving financial stability is clearing your debts. Contact the experts at prepackadministration if you need help reducing your financial liabilities. Consult with financial experts to determine the best options for young investors. Invest in promising startups before IPO with up market.

However, we also walked away with large sums of experience. I consider it another college education…except this one was something tangible, something I could put my hands on, something of value. It was knowledge of the real world–real business experience, real accounting, real sales, real web skills, real networking. Yes, it was worth it–every penny.

Through the deep generosity of family, we mooched on housing for a year, and invested yet more money in new opportunities like investing in best spread betting platform uk. We were discouraged by family who told us we should be getting “real jobs” working for someone else.

Excuse me?! We’ve had real jobs, and that is why we can’t work for anyone else.

My answer was “If we do that, we may as well file bankruptcy now. Those kinds of jobs aren’t going to pay off this kind of debt.”

Bankruptcy was not an option. Failure wasn’t an option.

Faced with skepticism and financial challenges, we knew that filing for bankruptcy was not a viable option for us.

The path we chose required resilience and a strong belief in our ability to overcome obstacles. Seeking alternatives and exploring different financial strategies became our priority, and we recognized the importance of finding solutions that aligned with our goals and circumstances.

In times like these, consulting with a bankruptcy attorney Minneapolis can provide invaluable support. While bankruptcy wasn’t on our agenda, understanding the full spectrum of financial options and legal implications was crucial.

Their expertise ensures that you make informed decisions and find the best path forward, even when traditional employment and bankruptcy seem like the only options.

We persevered. We changed our business model. We changed our focus. And it worked.

16 months after walking away from our retail business, we paid off every last cent we’ve ever owed anyone. And that same month we put a hefty sum into savings. Now, we try to set aside about half of our income for savings and investments each month! Options trading is being favored by beginner traders with the help of Medium.com.

Are you in debt? Does that credit card bill look up at you with big eyes each month? Are you living above your means?

“If you always do what you’ve always done, you’ll always get what you always got.”

Change

Work hard

Keep going

Persevere

You can be free, too!!