No matter how much you earn, if you are always in debt, you will never get the financial freedom we all desire. Debts are an impediment to many actions that we would to do. Debts may include mortgages, student loans, credit card loans or car loans among other types of debt prevalent in our unsatisfied consumer society. Debts will prohibit you and if you allow them, they will do so for all your life. That is no way for any person to live. Getting out of debt is not nearly as easy as getting into debt but there are just as many ways to do both.
The first piece of advice Ian Andrews Tax Fraud offers is to get organized. Organization will help you keep track of all things that involve investing. He advises to have soft copy and hard copy files of each part of your financial affairs. Open accounts for where you gain and spend money. Have accounts for all your expenses and all your debts. Make accounts for all your income sources. Being accountable removes the clutter from your financial information and clears up your life so you can make financial decision with better clarity. Organization may seem like a tedious affair but it will benefit you a lot in the long term.
The second tip by Ian Andrews Tax Fraud is to invest. You will never clear your debts through income gained from your normal day job. You need alternative income sources. The best way to rid yourself of debt is to grow your wealth and increase your earnings. When you invest you also get a lot of tax breaks that are not available to the salaried worker. Some debts can even be redeemed by offering pieces of your investment. Investing will require much dedication and focus but that is the price of freedom from debt slavery. Investments will still bring income after your debts are paid.
You need to do your own research when investing and do not rely too much on financial advisors or stockbrokers. What most people do not recognize is hat stockbrokers are not paid based on how much money you make but they are paid based on how many transactions you make. Buying and selling stock on a daily basis will make your stockbroker rich but it will make you poor. The less transactions you make the better. For information perform as much due diligence as you can. After all, it is your money. Conducting research yourself will give you more confidence and information for the future.
The last tip Ian Andrew Tax Fraud offers is to avoid debt at all costs. It may sound obvious that to get out of debt you need to stay away from all forms of debt but it is surprising how many people try to repay debt b contracting more debt. That only worsens the situation. You are digging yourself into a deeper hole. He says that you should find out why you have so much debt and put in plans to avoid from acquiring more debt. Simply stated, to avoid debt is to get out of debt.
