What is known for sure is that in order to set yourself up for any type of financial stability, it starts with self-evaluation. As a Barber/Stylist we are use to having cash on hand a good percentage of the time. This also means we often set out selves up for self destruction, by splurging on all the Fabulous things we want and so call need. The self-employed mindset gives of that; what I call, “I do what I want, when I want attitude,” leaving us to forget about what most important to us are business and our goals. I found out that being honest with yourself is a simple way to reaching your goals. “Lets not try keeping up with the Jones’s.” I would always tell my younger brothers and sisters that if you cannot be honest with yourself, then who can? Let’s face it, the truth hurts. However, you can always remember that pain is only temporary.Speaking from experience, I began my journey to financial stability the moment I logged in to check my credit report. It was in that moment that I found the most derogatory information as it pertained to my credit. I was $30,000 in debt. I owed so much money, had so many creditors, and so much in collections, it was scary! I had no idea exactly how I had gotten so far behind nor did I have a clear understanding as to where the money would come from to get out of this hole. But, I had to start somewhere because I couldn’t afford to go nowhere. I remember getting those annoying phones calls from the billing departments and the collection agencies. Harassment is what I felt from them. There was so much frustration I felt, and the rolling of my eyes was never ending. I was always eager to end the phone conversations by simply hanging the phone up in their faces as they are talking. I remember feeling broke; not being able to do what I wanted with my money. I was working to pay bills and it seemed as if it were all for nothing! Eventually, I decided to keep up with my routine, as I patiently waited for a change.
****Once you have decided that you want and deserve to have financial freedom, you will begin to take the necessary steps to make it happen. There are a lot of options out in this world that we just are not aware of and/or do not think will be available to the average Barber/Stylist. By taking the initiative to clean up your personal finances and credit, you are sure then to be on a path that will allow you to achieve your ultimate goal.****
6 Quick Steps to Debt Clean-Up
1. Pull your Credit Report. Find out if there is anything past due, delinquent, collections, liens, unsettled, ect.
2. Pay off all your small debt. Start off with credit cards and small inquiries.
3. Contact those annoying creditors by phone and just begin to pay what you can. If not all, then at least SOME.
4. Put all of your bills on an automatic payment plan (This allows you to make your payments consistently, efficiently and on time).
5. Consolidate your bills and make one lump sum payment.
6. Set reminder dates for each individual bill via smart phone or calendar. This sets a sense of urgency. “Don’t Trust Your Memory!”