WEBVTT - Get out of debt quickly: MY HIT LIST 0:00:06.960 --> 0:00:11.000 Credit card debt, how to finally get out of it 0:00:11.480 --> 0:00:15.720 quickly and easily for good, and maybe even have a 0:00:15.720 --> 0:00:17.400 little bit of fun along the way and learn something 0:00:17.440 --> 0:00:20.639 about yourself, and most importantly, how to stay out of 0:00:20.680 --> 0:00:22.720 credit card debt even with a little bit of help 0:00:22.720 --> 0:00:25.840 from the thousand Dollar Projects. Good morning, everyone, Welcome back 0:00:25.880 --> 0:00:30.400 to Sugar Mama's Fireplay Podcast. I am Canna Campbell. I 0:00:30.440 --> 0:00:33.159 really hope that you had a fantastic weekend, that you 0:00:33.280 --> 0:00:37.159 recharge your batteries and you are ready to embrace and 0:00:37.240 --> 0:00:40.360 tackle the week ahead. Today we're going to be talking 0:00:40.400 --> 0:00:44.640 about credit card debt, how to pay off that toxic 0:00:44.680 --> 0:00:49.040 credit card debt quickly and easily and have fun along 0:00:49.040 --> 0:00:51.640 the way, and learn a lot about yourself so that 0:00:51.720 --> 0:00:54.760 you never repeat history. And I'm also going to show 0:00:54.800 --> 0:00:57.959 you how to include the thousand Dollar Project to help 0:00:58.080 --> 0:01:02.600 make this process as a fish and pain free as possible. 0:01:03.280 --> 0:01:06.080 But before I begin, just a quick little bit of compliance, 0:01:06.280 --> 0:01:09.320 I need to remind you that all of my content, 0:01:09.400 --> 0:01:12.800 whether it be a YouTube video, a blog post, a podcast, 0:01:13.120 --> 0:01:17.760 something you see on Instagram, everything of mine is general advice. Only. 0:01:18.319 --> 0:01:21.039 The reason why is because I don't know anything about 0:01:21.080 --> 0:01:24.840 your individual situation. I don't know anything about your financial goals, 0:01:25.160 --> 0:01:29.240 your fincial responsibilities and liabilities, your risk profile, and of 0:01:29.240 --> 0:01:32.120 course all the deadlines that you have for your financial 0:01:32.160 --> 0:01:35.560 goals and dreams. So if you're ever listening to me 0:01:35.640 --> 0:01:39.240 talk about a particular financial strategy or a particular financial product, 0:01:39.400 --> 0:01:41.520 please know that it's not personal advice. And if you 0:01:41.560 --> 0:01:44.800 feel like you need to get personal advice, always and 0:01:44.920 --> 0:01:49.680 only reach out to a qualified and licensed financial planner 0:01:49.680 --> 0:01:53.320 that can give you personal advice. All right, let's get 0:01:53.320 --> 0:01:57.320 cracking with credit cards. So if you are listening to 0:01:57.360 --> 0:02:00.600 this and feeling a little bit uncomfortable, a little bit inertia, 0:02:01.320 --> 0:02:05.200 feeling almost like a trigger, well, I'm gonna be honest 0:02:05.200 --> 0:02:08.760 with you, it's probably because the truth hurts deep down. 0:02:08.840 --> 0:02:12.760 You know, you need to confront your issues of credit 0:02:12.760 --> 0:02:17.160 card debt in your life. So if there's a pushback 0:02:17.680 --> 0:02:20.240 or you know, some sort of feeling of discomfort, please 0:02:20.240 --> 0:02:21.959 know it's actually a good thing, because you're going to 0:02:22.040 --> 0:02:25.799 come out of this podcast wiser, smarter, and hopefully really 0:02:25.840 --> 0:02:29.160 inspired and motivated to kick that credit card debt out 0:02:29.200 --> 0:02:32.200 of your life for good. Why is a credit card 0:02:32.320 --> 0:02:36.239 debt so bad? Well, think about it. There are a 0:02:36.280 --> 0:02:41.480 lot of toxic emotions that come with credit card debt. 0:02:42.080 --> 0:02:44.200 I'm not talking about people who use credit card in 0:02:44.240 --> 0:02:46.639 a responsible way that they might have, say two thousand 0:02:46.680 --> 0:02:48.440 lls only on their credit card, but you know it's 0:02:48.440 --> 0:02:50.120 not the end of the month yet and their bill 0:02:50.120 --> 0:02:51.760 hasn't come through. Those people who pay it off and 0:02:51.800 --> 0:02:53.919 for each month, that's fine to use a credit card. 0:02:53.960 --> 0:02:57.280 And I actually have no problem with using credit cards. 0:02:57.280 --> 0:02:59.480 I have one credit card and I use it correctly, 0:02:59.520 --> 0:03:02.040 and I don't create debt. But the problem is when 0:03:02.080 --> 0:03:05.200 it's being abused. That's when it becomes toxic. And if 0:03:05.200 --> 0:03:07.040 we really be honest with ourselves and we look at 0:03:07.040 --> 0:03:10.640 credit card debt and think about the emotions behind the 0:03:10.680 --> 0:03:14.919 credit card debt, they're pretty horrible. They're are very energetically 0:03:15.000 --> 0:03:17.920 depleting emotions such as guilt. You know, I don't need 0:03:17.919 --> 0:03:19.360 to rub it in your face. If you're in credit 0:03:19.360 --> 0:03:21.640 card debt, you know this. And the thing about credit 0:03:21.680 --> 0:03:23.880 card debt, and this is even a good people who 0:03:23.919 --> 0:03:25.840 pay their credit card off in full each month, is 0:03:26.639 --> 0:03:29.519 can you ask yourself what did you buy to get 0:03:29.520 --> 0:03:31.240 into that credit card debt? If you were in say 0:03:31.320 --> 0:03:34.400 seven thousand dollars with the credit card debt? What was 0:03:34.440 --> 0:03:37.320 it that you bought that added up to seven thousand dollars? 0:03:37.880 --> 0:03:41.640 I guarantee you won't be able to list and remember 0:03:41.920 --> 0:03:45.120 every single item that got you into that, say, seven 0:03:45.160 --> 0:03:48.480 thousand dollars worth of debt. That's pretty confronting and pretty 0:03:48.520 --> 0:03:52.480 disturbing to think that toxic damage in your financial well being. 0:03:52.480 --> 0:03:55.680 You can't even actually articulate or calculate or remember what 0:03:55.720 --> 0:03:59.040 it actually was. I'm sure there may have been excuses 0:03:59.080 --> 0:04:01.440 such as, you know, I will I had an unexpected 0:04:01.520 --> 0:04:04.880 dental bill, or you know I had a well, maybe 0:04:04.920 --> 0:04:08.160 something happened to my pet. The truth is you didn't 0:04:08.200 --> 0:04:11.600 have emergency money to stop that from happening. So you've 0:04:11.640 --> 0:04:13.560 really got to be honest with yourself because this is 0:04:13.560 --> 0:04:17.440 when the best and most powerful growth and transformation comes. 0:04:17.600 --> 0:04:21.400 So stop the excuses. Admit to yourself that you're living 0:04:21.400 --> 0:04:25.080 beyond your means. You're not being mindful and aware and 0:04:25.120 --> 0:04:27.440 taking control of your financial bill being, and you're not 0:04:27.520 --> 0:04:31.040 taking your financial life seriously. Something's got to stop. If 0:04:31.080 --> 0:04:32.880 you want it to be better, you want it to 0:04:32.920 --> 0:04:35.760 be different, you want it to be healthier. So once 0:04:35.839 --> 0:04:40.479 you've had a look at the real emotions you're experiencing 0:04:40.560 --> 0:04:42.320 and even write them down about how you feel about 0:04:42.320 --> 0:04:44.520 your credit card debt, and also write down all those 0:04:44.560 --> 0:04:47.800 excuses that you've been justifying to yourself about the credit 0:04:47.800 --> 0:04:49.760 card debt. And what I'm going to say I'm going 0:04:49.800 --> 0:04:53.880 to mention in particular, is occasionally people say to me, oh, yes, 0:04:53.920 --> 0:04:55.920 I've got like, say, twenty thousands the credit card debt, 0:04:55.920 --> 0:04:57.400 but at least it's not as bad as my friend 0:04:57.400 --> 0:05:02.240 who's got like thirty That's like saying, well, I'm a 0:05:02.320 --> 0:05:06.320 smoker and I'm only smoking, you know, fifteen cigarettes a day. 0:05:06.360 --> 0:05:09.080 My other friend smokes twenty five cigarettes a day, Like, no, 0:05:09.240 --> 0:05:11.520 you're still a smoker. That's really bad for your health. 0:05:11.520 --> 0:05:14.359 It's really damaging your health, and you go into you know, 0:05:14.400 --> 0:05:17.520 shorten your life expectancy and make you incredibly ill and 0:05:17.560 --> 0:05:22.599 potentially with huge you know, financial and mental and emotional repercussions. 0:05:22.680 --> 0:05:25.520 So don't compare yourself to anyone. And that also goes 0:05:25.520 --> 0:05:28.600 from a wealth accumulation perspective. You know, you're on your 0:05:28.600 --> 0:05:31.719 own path. Don't compare yourself to anyone, Otherwise you're only 0:05:31.760 --> 0:05:33.640 going to be as good out or as bad as 0:05:33.680 --> 0:05:36.719 that other person. All right, So, once you've written the 0:05:36.800 --> 0:05:39.400 list of the truthful emotions you're experiencing, when you look 0:05:39.400 --> 0:05:41.840 at your credit card statements, you look at how much 0:05:41.880 --> 0:05:44.599 money you owe, you think about those excuses you're coming 0:05:44.640 --> 0:05:46.920 up with. Write them all down so that you are 0:05:47.000 --> 0:05:50.080 facing them head on. I know it's uncomfortable. I know 0:05:50.120 --> 0:05:52.200 there's gonna be a lot of emotional triggers that come up. 0:05:52.240 --> 0:05:54.800 But I promise you it is so worth doing this 0:05:54.839 --> 0:05:57.480 because this is where the change happens. The next thing 0:05:57.480 --> 0:05:59.360 I want to do with you is it's a lot 0:05:59.400 --> 0:06:01.840 easier this one. I promise you you'll start to feel pleasure 0:06:01.880 --> 0:06:04.080 and enjoy, and that is I want you to imagine 0:06:04.320 --> 0:06:07.640 a life where you don't have any debt. You pay 0:06:07.680 --> 0:06:10.400 for things in cash, or if you use your credit card, 0:06:10.440 --> 0:06:13.200 you know that you're immediately going to transfer that money 0:06:13.200 --> 0:06:14.960 onto the credit card, so you have a you know, 0:06:15.160 --> 0:06:17.880 you never actually have an outstanding balance on your card. 0:06:18.400 --> 0:06:23.400 Think about how empowering that feels, how in control, how healthy, 0:06:23.560 --> 0:06:28.839 how energizing that feels. Just using only what you've got, 0:06:28.920 --> 0:06:33.560 not depleting your financial resources. You know, imagine what it 0:06:33.560 --> 0:06:36.719 feels like to even see savings in a separate account 0:06:36.839 --> 0:06:40.040 such as an emergency savings account, or even better, think 0:06:40.040 --> 0:06:41.680 about what it feels like to see that you've actually 0:06:41.680 --> 0:06:44.240 got investments, You've got a share or follow you and 0:06:44.839 --> 0:06:46.240 you know how to add to it, and you know 0:06:46.240 --> 0:06:49.520 that your superinnovation is also organized, or you know that 0:06:49.520 --> 0:06:51.839 you've got a very exciting financial goal going on with 0:06:51.880 --> 0:06:54.320 a separate, dedicated savings account, such as you know, saving 0:06:54.360 --> 0:06:56.760 up a deposit for a home loan. These are things 0:06:56.800 --> 0:06:58.400 I want you to think about because these are things 0:06:58.480 --> 0:07:03.359 that are perfectly within your reach when you are credit 0:07:03.440 --> 0:07:08.000 card debt free. Think about the feeling of freedom, liberation. 0:07:08.640 --> 0:07:14.080 These are all really uplifting and re energizing emotions. And 0:07:14.120 --> 0:07:16.920 if you go back to that list of the toxic emotions, 0:07:16.960 --> 0:07:20.120 you see how they just completely trump all those horrible emotions. 0:07:20.560 --> 0:07:23.920 They add to your well being. They add to your vitality, 0:07:24.040 --> 0:07:26.960 your energy, your epervescence of life. That's what we want 0:07:27.000 --> 0:07:28.440 to focus on, and that's why we need to get 0:07:28.440 --> 0:07:31.000 this credit card debt out of your life for good. 0:07:31.040 --> 0:07:32.760 So this is what I want you to do now 0:07:32.760 --> 0:07:35.400 that you've done the groundwork looking at your mindset and 0:07:35.400 --> 0:07:38.280 your attitude, because you actually realize now, all right, I've 0:07:38.320 --> 0:07:39.600 got to take control of this and get out of 0:07:39.600 --> 0:07:41.680 this type of debt for good. So the first thing 0:07:41.720 --> 0:07:42.920 I want you to do is grab a piece of 0:07:42.920 --> 0:07:45.680 paper and a pen, and I want you to write down, 0:07:45.840 --> 0:07:48.880 from the top of the list the smallest amount of 0:07:49.000 --> 0:07:50.920 debt that you owe all the way to the biggest 0:07:50.920 --> 0:07:53.280 amount of debt. So this would even include people you 0:07:53.360 --> 0:07:55.760 might owe money to. So you might owe, say, for example, 0:07:55.840 --> 0:07:58.600 a parent two hundred dollars, and then you're right, Visa 0:07:58.720 --> 0:08:01.680 eight thousand dollars, and then all right, you know another 0:08:01.800 --> 0:08:04.280 in credit card, you right to say, MasterCard twelve thousand dollars. 0:08:04.360 --> 0:08:06.920 See how I'm starting with the smallest debt at the 0:08:07.000 --> 0:08:10.440 very top, slowly getting bigger and bigger, and writing exactly 0:08:10.480 --> 0:08:13.520 who I owe money to. So this is the start 0:08:13.560 --> 0:08:16.320 of your hit list. You're going to become an assassin. 0:08:16.800 --> 0:08:18.840 You're going to work through your hit list and knocking 0:08:18.920 --> 0:08:22.240 each of those people in your lives or institutions that 0:08:22.320 --> 0:08:24.440 you owe money to. I want you to carry that 0:08:24.480 --> 0:08:26.480 piece of paper around, look at it all the time, 0:08:27.080 --> 0:08:30.559 and think about how you're going to get these debt 0:08:30.600 --> 0:08:32.960 halls out of your life for good, and we're going 0:08:33.000 --> 0:08:36.520 to start nice and easy and simple with the person 0:08:36.640 --> 0:08:39.080 on the list at the very top that is the 0:08:39.120 --> 0:08:42.520 smallest amount of debt. Now you might be wondering, hang on, Canna, 0:08:42.679 --> 0:08:44.400 this doesn't make sense. If you google how to get 0:08:44.400 --> 0:08:46.480 out of credit card debt, everyone says start with the 0:08:47.240 --> 0:08:50.480 person or the institution that has the highest interest rate. Yes, 0:08:50.800 --> 0:08:54.319 that is technically correct, and this that is completely the 0:08:54.640 --> 0:08:58.280 financially the savviest thing to do. But this is where 0:08:58.320 --> 0:09:01.080 I kind of differ. I'm I'm very much about the 0:09:01.080 --> 0:09:03.840 psychology of money and about doing something that you're going 0:09:03.840 --> 0:09:06.200 to feel committed and connected to so that you actually 0:09:06.240 --> 0:09:09.320 pay that debt off for good. So whilst this may 0:09:09.679 --> 0:09:12.840 cost you a little bit more in interest, I promise 0:09:12.880 --> 0:09:15.599 you you'll feel better about this because you'll see the progress. 0:09:16.040 --> 0:09:19.679 You'll feel inspired and motivated to keep going. So what 0:09:19.720 --> 0:09:21.760 I want you to do next is look at your 0:09:21.800 --> 0:09:24.880 budget you've got and look at what your living expenses are. Now, 0:09:24.920 --> 0:09:27.120 if you've never done a budget, please don't panic. Just 0:09:27.160 --> 0:09:29.920 head to the sugar MoMA website, subscribe to our newsletter, 0:09:29.960 --> 0:09:32.720 and you will get a free budget template for you 0:09:32.800 --> 0:09:35.160 to use to get started in doing your own budget 0:09:35.160 --> 0:09:37.960 and everything is selected there, so it's really quick and 0:09:38.000 --> 0:09:40.040 easy to complete. I've thought what I want you to 0:09:40.120 --> 0:09:44.960 do is also factor in repayment plans. Minimum repayment plans, 0:09:44.960 --> 0:09:47.800 that is, for each of those debtors. So you might 0:09:47.840 --> 0:09:49.840 have a ten dollars a week repayment plan in place 0:09:49.880 --> 0:09:52.200 for one person. You might have a two hundred dollars 0:09:52.480 --> 0:09:55.600 per month repayment plan for a credit card institution, for example. 0:09:55.640 --> 0:09:58.679 Put those in your budget now. By looking at your 0:09:58.679 --> 0:10:00.840 budget again, this is a bit of a fronting experience, 0:10:00.840 --> 0:10:02.800 but it's going to allow you to see your true 0:10:03.000 --> 0:10:06.559 cost of living, where all your money goes. And it's 0:10:06.559 --> 0:10:08.760 also going to help you identify things that you simply 0:10:09.120 --> 0:10:11.960 waste money on, things that you don't value, you know, 0:10:12.080 --> 0:10:17.199 taking buying lunch every day in the city, or you know, 0:10:17.360 --> 0:10:20.959 buying fast fashion like you or getting a takeaway coffee 0:10:20.960 --> 0:10:22.400 every day. It's going to allow you to stop and 0:10:22.480 --> 0:10:24.720 question the value. Now if you look at something and go, 0:10:24.800 --> 0:10:26.760 you know what I value that coffee every day on 0:10:26.800 --> 0:10:28.600 my way to work. That's fine. Keep it in there, 0:10:28.600 --> 0:10:30.920 because obviously you want to keep balanced. I want you 0:10:31.000 --> 0:10:32.920 to you know, I don't want you to punish yourself 0:10:32.960 --> 0:10:34.800 in doing this. But you need to be honest with 0:10:34.840 --> 0:10:36.720 yourself and say, all right, well I like it, I 0:10:36.800 --> 0:10:38.520 value this. But instead of getting a coffee every day, 0:10:38.520 --> 0:10:40.199 I'm going to get one just on Thursday and Friday 0:10:40.240 --> 0:10:42.120 as a reward to getting through the end of the week. 0:10:42.440 --> 0:10:44.240 I'm not here to tell you what to cut out 0:10:44.320 --> 0:10:46.800 and what to cut down. That's for you to do. 0:10:46.920 --> 0:10:49.960 That's your business and you only you can identify what 0:10:50.000 --> 0:10:51.840 you value. But you never know what you might discover 0:10:51.960 --> 0:10:55.000 along the way as you go through your budget. So 0:10:55.400 --> 0:10:57.319 as you've set up all those minium payment plans, you 0:10:57.400 --> 0:10:59.280 put them in your budget, you've looked at really expenses, 0:10:59.280 --> 0:11:02.040 and you've gone through and reduced or cut out any 0:11:02.040 --> 0:11:05.040 of your living expenses that you don't truly value. I 0:11:05.120 --> 0:11:08.960 want you to proactively identify those potential savings, and I 0:11:08.960 --> 0:11:11.520 want you to take any extra money that you are 0:11:11.559 --> 0:11:14.679 able to save, such as you know you decide to. 0:11:14.760 --> 0:11:16.839 I'm not going to spend one hundred dollars a week 0:11:16.880 --> 0:11:19.040 on lunches at work. I'm going to take my lunch 0:11:19.080 --> 0:11:21.200 to work, say three days a week, which works out 0:11:21.240 --> 0:11:23.720 i'll say fifty dollars per week, and doing that that 0:11:23.840 --> 0:11:27.520 fifty dollars I want you to proactively take and transfer 0:11:27.679 --> 0:11:29.959 to the person that's on the top of your list. 0:11:30.559 --> 0:11:33.480 So the moment you have transferred that money, and I 0:11:33.480 --> 0:11:35.880 want you to do it in an ad hoc, proactive way, 0:11:35.960 --> 0:11:37.400 so that you get that money out of your account 0:11:37.400 --> 0:11:39.680 before you get tempted to spend it, and you honor 0:11:40.040 --> 0:11:43.800 and respect the responsibility of paying that person off. You 0:11:43.840 --> 0:11:45.960 then go and update your list, and you do the 0:11:45.960 --> 0:11:48.720 same thing the following week. You make the save the 0:11:48.760 --> 0:11:50.760 fifty dollars or whatever the money might be, and then 0:11:51.040 --> 0:11:54.680 proactively ad hoc transfer to that person. Update the list. 0:11:54.720 --> 0:11:57.560 Now we'll do this until that person is completely paid 0:11:57.679 --> 0:12:01.360 back in full, including any outstanding. In the moment they 0:12:01.360 --> 0:12:03.599 are paid and there's no money owing to them whatsoever, 0:12:03.920 --> 0:12:06.920 you can have the pleasure and satisfaction of crossing them 0:12:06.960 --> 0:12:10.560 off the list. You then move on to the next 0:12:10.559 --> 0:12:12.839 person on a list and you do exactly the same thing. 0:12:12.960 --> 0:12:17.280 You use all the same side hustles and hacks and 0:12:17.280 --> 0:12:20.680 budget tips to pay that person off. Yes, you're making 0:12:20.800 --> 0:12:24.080 irregular ad hoc repayments, but the thick trick is is 0:12:24.080 --> 0:12:26.040 you're getting that money out of your account before you 0:12:26.080 --> 0:12:29.720 can potentially spend it, and you are reducing that debt. 0:12:29.920 --> 0:12:32.480 And every time you do this, you update your list 0:12:32.520 --> 0:12:34.400 and you look at Okay, well, gosh, my overall debt 0:12:34.440 --> 0:12:37.720 is no longer fifteen seven hundred, but it's actually fifteen 0:12:38.080 --> 0:12:40.920 two hundred and fifty. Wow, I'm making progress. This refeels 0:12:40.960 --> 0:12:43.760 really really good. And this is where the thousand dollars 0:12:43.800 --> 0:12:48.040 project can come in because you look at ways to 0:12:48.200 --> 0:12:53.000 bring in open up the floor you could say of earning, manifesting, creating, hustling, 0:12:53.080 --> 0:12:57.520 saving extra money in your life, and you focus on 0:12:57.559 --> 0:12:59.880 doing these impararcels of one thousand dollars at a time. 0:13:00.520 --> 0:13:03.560 So obviously you keep going with your repayment strategy. You 0:13:03.559 --> 0:13:05.600 have your minimum payments in plan which are programmed in 0:13:05.640 --> 0:13:09.040 your budget. You're making ad hoc repayments. And if you 0:13:09.080 --> 0:13:11.240 want to add the element of the thousand dollars project, 0:13:11.280 --> 0:13:13.520 this is what you do. You have a separate dedicated 0:13:13.520 --> 0:13:17.040 to savings account and you look to hustle, save, manifest 0:13:17.040 --> 0:13:20.400 create extra money in your life. As on a side note, 0:13:20.640 --> 0:13:22.720 so for example, you might go through your wardrobe and 0:13:22.760 --> 0:13:25.200 you'll go and sell a whole pile of stuff online. 0:13:25.480 --> 0:13:28.040 Might be and you might even look at doing some 0:13:28.120 --> 0:13:32.560 babysitting work, some dog walking, some house sitting, even a 0:13:32.600 --> 0:13:35.360 weekend job, or start looking for a pay rise or 0:13:35.400 --> 0:13:37.920 a promotion or a new job, anything you can do 0:13:37.960 --> 0:13:39.760 to bring in some extra money in your life. And 0:13:39.800 --> 0:13:41.640 if you grab a copy of Mindful Money or one 0:13:41.640 --> 0:13:45.040 thousand Dollars Project, or even watch my videos for free 0:13:45.080 --> 0:13:47.120 online on YouTube, you can see all the different things 0:13:47.120 --> 0:13:49.560 I've done to come up with a thousand dollars a time. 0:13:49.960 --> 0:13:52.960 So you put money into that account, and I know 0:13:53.040 --> 0:13:55.079 it might sound silly, but you might say, okay, well, 0:13:55.120 --> 0:13:56.839 guess what this weekend I had a really free will 0:13:56.840 --> 0:14:00.000 when Netflix and Chill and I didn't spend eighty dollars, 0:14:00.160 --> 0:14:01.600 show what it would have spent. So you put that 0:14:01.640 --> 0:14:04.079 in a thousand dollars project account, and the moment that 0:14:04.160 --> 0:14:06.480 account hits one thousand dollars, you make a lump sum 0:14:06.520 --> 0:14:10.440 repayment to the people on your hit list, of course, 0:14:10.840 --> 0:14:13.559 targeting the person at the top of the list. We're 0:14:13.559 --> 0:14:16.720 making great progress, really efficient, powerful progress of knocking it 0:14:16.720 --> 0:14:19.160 off one thousand dollars at a time, and now you 0:14:19.200 --> 0:14:22.640 can say that you only owe say thirteen hundred dollars 0:14:22.640 --> 0:14:25.040 to master Card instead of two thousand dollars. Now that 0:14:25.080 --> 0:14:28.080 feels really good seeing those powerful lump sums coming off 0:14:28.080 --> 0:14:31.040 your total debts. And as I said, you always track 0:14:31.080 --> 0:14:32.800 a monitor this so you always add up the total 0:14:32.800 --> 0:14:35.920 amount of money you owe and update it. Go great. 0:14:36.000 --> 0:14:38.920 Now my debts are down from originally we're fifteen thousand, 0:14:39.000 --> 0:14:41.440 seven hundred. Now they're down to hundred and fifty. And 0:14:41.440 --> 0:14:43.520 now with this lump sum of one thousand dollars, they're 0:14:43.560 --> 0:14:46.800 down to fourteen two hundred and fifty. Wow, I'm making progress. 0:14:47.040 --> 0:14:50.120 I'm changing history. I'm doing things differently. This is working. 0:14:50.560 --> 0:14:53.880 This feels good. I'm getting back control in my life 0:14:53.960 --> 0:14:56.160 of my spending habits, and I'm learning a lot about 0:14:56.160 --> 0:14:59.280 myself along the way. I'm excited about being debt free. 0:14:59.320 --> 0:15:02.880 These are powerful things you need to realize along the way. 0:15:03.480 --> 0:15:07.120 Remember you're assassin. This is the hit list strategy. Now 0:15:07.160 --> 0:15:09.920 along the way. If you need to give yourself mini 0:15:09.960 --> 0:15:14.040 breaks or even mini rewards along the way, that's okay, 0:15:14.560 --> 0:15:18.400 I'm not This is not about punishing yourself or being 0:15:18.440 --> 0:15:21.480 mean or depriving yourself. Okay, It's about coming from a 0:15:21.480 --> 0:15:26.080 place of love, kindness. But also respect and responsibility. So 0:15:26.160 --> 0:15:28.440 you might say to yourself, Okay, I've gone really hard 0:15:28.440 --> 0:15:30.680 and fast, and I've not you know, say four thousand 0:15:30.720 --> 0:15:34.560 dollars off my say sixteen thousand dollars of debt. If 0:15:34.600 --> 0:15:38.800 you feel the need emotionally and mentally to take a 0:15:38.800 --> 0:15:41.800 little break, and you know say okay, all right, I'm 0:15:41.800 --> 0:15:44.360 gonna give myself a reward, then do it. Just make 0:15:44.400 --> 0:15:48.120 it an intelligent reward. Don't go and undo all the 0:15:48.120 --> 0:15:50.080 hard work by going and buying a thousand dollars handbag 0:15:50.120 --> 0:15:52.960 and getting back into debt. Have that reward obviously paid 0:15:53.000 --> 0:15:56.480 for in cash, and ideally make it a non financial award. 0:15:56.520 --> 0:15:59.400 Make it something really nice to yourself, like taking yourself, 0:15:59.480 --> 0:16:02.680 you know, for aiful walk, or giving yourself a hot bath, 0:16:02.840 --> 0:16:06.360 or borrowing a book from the library, or having a 0:16:06.360 --> 0:16:09.040 weekend where you do something different for yourself, or going 0:16:09.040 --> 0:16:12.160 to a yoga class. We're going and getting something really free, 0:16:12.440 --> 0:16:14.680 I guess frugally friendly, like such as a you know, 0:16:15.560 --> 0:16:19.040 a manicure and pedicure, spa treatment. Just make sure it 0:16:19.040 --> 0:16:21.760 doesn't undo the damage, or if you're getting safe, for example, 0:16:21.760 --> 0:16:24.360 a massage. When you're getting this message, remind yourself. The 0:16:24.400 --> 0:16:27.080 reason why I'm getting this message is because I'm working 0:16:27.080 --> 0:16:28.960 on my goals and I'm making progress, and this is 0:16:28.960 --> 0:16:32.240 my reward to myself. And once this is finished, I 0:16:32.240 --> 0:16:33.800 am going to pat myself on the back and get 0:16:33.880 --> 0:16:36.720 back on the bandwagon with the next thousand dollars that 0:16:36.720 --> 0:16:38.200 I'm going to knock off my debt or the next 0:16:38.200 --> 0:16:41.160 person I'm gonna knock off my debt. Because remember you're 0:16:41.200 --> 0:16:44.240 an assassin. This is the hitless strategy, and if you 0:16:44.240 --> 0:16:45.680 want to do as I said, you're using one thousand 0:16:45.680 --> 0:16:49.880 dollar projects to make this experience even faster. Now, there 0:16:49.920 --> 0:16:51.680 are a couple of other things that really help as 0:16:51.720 --> 0:16:54.880 well to make sure that this really happens, and that 0:16:55.000 --> 0:16:58.120 is to share your debt free journey on social media. 0:16:58.280 --> 0:17:00.200 There are a lot of people out there doing and 0:17:00.240 --> 0:17:02.400 if you have a look on my Instagram account Sugar 0:17:02.440 --> 0:17:05.119 Mama TV, you'll see who I'm following because I follow 0:17:05.119 --> 0:17:07.000 a huge amount of people from the debt free community 0:17:07.040 --> 0:17:09.200 around the world. So have a look and see who 0:17:09.200 --> 0:17:12.280 I'm following. It's really interesting and even though I'm not 0:17:12.320 --> 0:17:15.160 someone in credit card debt, I find it really inspiring 0:17:15.200 --> 0:17:18.159 motivating because it inspires me with my own vesting goals 0:17:18.560 --> 0:17:20.560 and it inspires me also with helping pay off my 0:17:20.600 --> 0:17:23.520 mortgage as quickly as possible. But by putting something on 0:17:23.560 --> 0:17:26.160 social media where you tell people and you share with people, Hey, 0:17:26.200 --> 0:17:28.400 I'm in fifteen thousands of a credit card debt. I'm 0:17:28.400 --> 0:17:30.680 going to try and pay it off. You know, by 0:17:30.760 --> 0:17:34.199 the fifteenth of December twenty twenty one. You're making yourself accountable. 0:17:34.680 --> 0:17:36.400 There are people watching you and they want to see 0:17:36.440 --> 0:17:39.080 you succeed, and you feel responsible to prove them. And 0:17:39.119 --> 0:17:41.240 that's one thing I haven't touched on yet, and that 0:17:41.359 --> 0:17:45.119 is the importance of having a deadline. Never ever set 0:17:45.200 --> 0:17:47.679 a goal with the deadline that's okay, in three months time, 0:17:47.720 --> 0:17:49.440 I want to have paid this off, because you're always 0:17:49.440 --> 0:17:51.520 going to push that deadline three months into the future. 0:17:51.560 --> 0:17:54.119 You're always going to be pushing it forward, like the 0:17:54.119 --> 0:17:57.000 opposite of this chasing your tail. But when you put 0:17:57.200 --> 0:18:00.520 a deadline with a date, a defined day such as 0:18:00.560 --> 0:18:03.320 the fifteenth of November or the seventeenth of June, or 0:18:03.720 --> 0:18:07.320 you know, whatever it might be, you're actually you realize 0:18:07.359 --> 0:18:09.679 that time is ticking. You've got to get pull your 0:18:09.680 --> 0:18:12.600 finger out and get cracking. Actually, see that debt come down, 0:18:13.080 --> 0:18:15.800 I promise you you'll find yourself so much more focused 0:18:15.800 --> 0:18:19.040 to beat the deadline and to get this goal ticked off, 0:18:19.240 --> 0:18:21.280 you know, as soon as possible. And this is how 0:18:21.280 --> 0:18:23.720 I set all of my goals, not just financial ones, 0:18:23.720 --> 0:18:25.800 but even like my lifestyle goals, my fitness goals. If 0:18:25.800 --> 0:18:27.040 I say, okay, I want to be able to run 0:18:27.080 --> 0:18:31.360 for like by four kilometers without stopping, I'll have that 0:18:31.600 --> 0:18:34.840 goal to be achieved by a certain particular date. And 0:18:35.440 --> 0:18:39.200 I definitely see a huge shift and improvement and success 0:18:39.280 --> 0:18:43.240 in achieving those goals. Now as you are going through 0:18:43.280 --> 0:18:46.040 the progress I want you to, you know, paying off 0:18:46.080 --> 0:18:48.320 your debt and feeling good and seeing it coming down. 0:18:48.320 --> 0:18:50.159 And look, it's not going to come down consistently one 0:18:50.160 --> 0:18:53.199 thousand dollars each week. You're going to have bursts of 0:18:53.600 --> 0:18:55.880 you know where you're like, wow, I'm really smashing this goal, 0:18:56.119 --> 0:18:58.119 these goals. This is great. But then you're also going 0:18:58.160 --> 0:19:00.040 to plateau. Just like I talk about the ocean, and 0:19:00.160 --> 0:19:03.240 sometimes there are big waves. Sometimes there's a beautiful ocean. 0:19:03.280 --> 0:19:05.600 You're in the green room catching these incredible waves, and 0:19:05.600 --> 0:19:08.120 then sometimes it's dead calm and you're just platateauing and 0:19:08.359 --> 0:19:10.400 it can feel nice, but it also can feel frustrating. 0:19:10.480 --> 0:19:13.200 That is perfectly normal. That's life, and that's not even 0:19:13.240 --> 0:19:16.240 a debt free life that or debt free journey. That's 0:19:16.320 --> 0:19:18.800 life when it comes to savings up for something particular. 0:19:18.840 --> 0:19:21.000 And that also comes with when you're trying to say 0:19:21.200 --> 0:19:23.040 invest all the time. Like when I'm working on my 0:19:23.080 --> 0:19:25.680 investment goals, there are times in my life where I'm like, damn, 0:19:25.680 --> 0:19:28.240 I've got no spare money to invest. This is really frustrating. 0:19:28.359 --> 0:19:30.480 Or Damn I thought I was going to have money 0:19:30.600 --> 0:19:33.840 to investment. It's got to go towards this expense now instead. 0:19:33.880 --> 0:19:35.680 You know that that's life, and there are times I'm like, wow, 0:19:35.720 --> 0:19:37.800