I decided to post this for two reasons:
1. I wanted to share my experience.
2. The hope that this will help at least one person out there.
I honestly can't believe i'm here typing this.. it feels surreal.
After: years, consolidation loans, paying half my paycheck to my credit card, none of that working, I started to feel hopeless. It's a terrible feeling to pay half your paycheck and live payday to payday and still watch your credit card go up from a lethal combination of interest and not being able to keep up with your desired lifestyle.
You will notice in that picture as of 8/30 I now have enough money in savings to completely pay off my Credit Card and still have some money left over. I'm going to attempt to tell you how I finally figured it out, and managed to apply it to pay off my credit card in 3 months.. after unsuccessfully trying for over 5 years.
After trying everything I got desperate and took an unconventional route to paying off my debt: Turning myself into a profit center.
Before I begin:Intention leads to success:
Make your goals and intentions public, because you will be subconsciously held responsible for them. Intentions become perception and perception is reality. This is not a simple theory, changing my thought process to generating intention drastically changed my life.How you can pay off your debt:
Everyone has the ability to provide a service or product to meet a given need or demand.
The vast majority of people already have the skills provided to offer a service to the public, yet they don't realize it. This service can be ANYTHING. Washing cars, Landscaping, Home improvement, Website design, IT consultation, DJ, etc.
The possibilities are endless, and every single one of them can be self taught. The greatest assets in life are the intangible assets, the ones you can't hold in your hands.
All you need is one skill and drive. Pick a skill you will love doing, when you have self drive it's doesn't matter how terrible you are or how talent-less you seem to be at it. That drive and push to succeed will make you extremely successful over time. Time and pressure makes diamonds, and it works the same for skill building.
Once you've started to offer this skill and generate revenue from it, dump every single bit of gross profit into a savings account (post taxes) and don't even think about touching it until your debt payoff goal has been reached.
Even if you don't possess "skills", you can simply buy yourself a book or teach yourself one within weeks... seriously. ANY skill will work, I mean anything.
This might sound broad, generic, or cliche.. but it's extremely effective. The key is to make the right selection of the skill you will offer and make sure you will have the drive to succeed and maintain self-interest. The second most important key is to identify some kind of demand in your local area.
These two factors are what I've found to lead to success. Your ideas, talent, etc. really doesn't matter at all. Talent only matters in the entertainment and sports industry, unless of course you're in the 1% of business/investment genius group. An idea will only go as far as your self motivation and drive will take it.
If you're in debt, stop wasting your money on tangible assets, long term investments, forex, etc.
Invest everything you have in the development of one skill that will meet some kind of demand, stop trying to generate a profitable radical idea or gimmick. You don't need it in the beginning. You already have the keys to the most effective profit center, and it's your skill-set. You need immediate results to pay off your debt, before you can even think about long term investments. You will be swimming in debt you're entire life unless you do something about it now.
If you're gaffing this off or can't motivate yourself enough to try and apply this, than you've already set yourself up for failure. The problem is you, fix it. Stop making excuses or being lazy, there is no easy way to make money. Generating money requires work. Take control and dictate what form of work that will be with your chosen skill. Market your skill:
Craigslist, Ebay Classifieds, Local Forums, Flyers, Social Media, Emails, etc.
A wise CMO recently said traditional marketing is now the same as internet marketing.
The great thing about this is that Internet Marketing can be had for completely free (see above). You're only overhead will be your personal time.
The key is no to very low overhead and mass local exposure. All you need is the developed skill and you're gold. If it sounds easy, it's because it is.How I did it
I identified a slight demand in my area and self taught myself a skill in two weeks. Three months later I have finally paid off my credit card debt of 17k over 5 years of trying.
I did all of this 100% on the side, while maintaining a 40 hr week full time job and a family.
Besides my son's birth and my marriage, this might be the happiest day of my life. I'm just getting started and I'm not going to stop until I see my next monetary goal in my bank account. Join in! What are you waiting for?
I hope someone out there can take something from this rambling and turn their debt situation around, as well as their life and pursuit of happiness.