Should You Take The Journey To Financial Freedom?

To answer that question, you need to ask yourself a big question and several smaller ones.

The question is "At what point should you start worrying about your debts"? If you are just "managing" on a monthly-basis, then perhaps you already have a 'debt situation'. Also, if the answer to ANY of the following is 'Yes' or 'Maybe', it is a warning sign that you're sliding - slowly but surely - into the financial bondage called debt:

Do you think you cannot 'afford' to pay tithe or give offering in church?
Are you spending more than 20% of your monthly income on meeting your debts?
Are you beginning to delay opening letters from financial institutions?
Can you only ever afford to make the minimum payments on your credit cards?
Are you using your credit card for day-to-day purchases without paying it off in full each month?
Are you beginning to rob Peter to pay Paul?
Are you taking out new loans to pay off old ones?
Are your total non-mortgage debt amounts to more than your annual income?
Do you have nothing left over to save after meeting all your monthly expenses?

If you've answered 'Yes' to any of the above, then you need to begin doing something about it now!!

For the next 30 days, write down everything you spend money on and how much you spend - be it in cash, with cheque, with debit/credit card(s), by direct debit or standing order. You need to have an initial picture of how much you spend in a typical month. The result will surprise you; but your journey to financial freedom has begun.