In this video I share an intro on how to get out of debt without following a rigid, conventional-thinking system.

By using out-of-box thinking and focusing on principles, I think you can tackle debt in a more effective and healthy manner.

The debt breakdown of the example in this video is:

auto loan - $24,000

student loans - $35 + $7k

credit card debt - $14,000

401k loan - $20,000

Example of rigid, conventional thinking:

1. Written budget every month

2. Sell everything in sight

3. Work all the time (2-3 extra jobs, both couple), no eating out, no vacations.

Contrast that with principle-based thinking:

1) Embrace minimalism - reduce desires/wants, lower spending as a result

2) Make war on debt. This will trigger lots of ideas.

3) Use Wisdom and creativity to build income.

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Disclaimer: All content on this channel is for informational and educational purposes only and should not be construed as professional financial advice. Should you need such advice, consult a licensed financial or tax advisor. No guarantee is given regarding the accuracy of information on this channel.

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