Page 8 - eBook

LESSON 2

DEBT

DEBT– is a scary word. Full of emo�onal frustra�ons and struggle. People have
killed themselves because of debt. The first thing you need to know is money
has no emo�ons. Debt has no feelings. Just because you struggle or cry more

doesn't mean debt will feel bad for you. The first thing you want to focus on is
organizing your finances; so let's talk about this. This lesson is all about pu�ng

yourself on the right track to pay down your debt. There are good debt and bad
debt which we will discuss later in my guide.

ASSESS YOUR SITUATION

First things first! Assess your situa�on. Where are you in life? If you’re on the
verge of living on the street with no shelter over your head, get help! Use the

help your government has made available to you. Then search for employment
through government/job agencies and don't say no to help. When you have

food and shelter covered, move on to focusing on debt!

LIVING BELOW YOUR MEANS

You've probably heard this a million �mes, "Live below your means and save

money", but there is more to it, so listen up! This message goes out to the
person who has 100k in student loan debt and drives a Mercedes Benz. I get it

you're only young once, and you want the experience of driving a Mercedes.
However, there is a difference between showing people you’re rich versus being
rich. The lease on your car is only extending you from being free from bad debt.

Making those car payments on your student loan will bring down your debt
faster. It's financially smarter to get a Mercedes rental for a week vs a lease if

you wanted to enjoy the experience.

Sankeethan Ratneswaran – 2021 Copyright 08