There are ways Feng Shui can help a person get out of debt, one of which is to activate one’s wealth luck. However, as mentioned, getting more money is not a guarantee that one will no longer have debts, because as discussed on our previous post, debt may be because of lack of discipline in handling money and/or karmic.
Allow me to share with you some practical ways to get of debt cause by lack of discipline in handling money.
ACKNOWLEDGE THE MONEY PROBLEM. In all problems, one should start with acknowledging the problem. In fact, once you have face the truth and acknowledge the problem, everything else will be easier.
IDENTIFY THAT YOU SHOULD BE IN CONTROL. It’s quite easy to blame a lot of things why you’re in debt. It’s easy to say that there’s a recession, a bad economy, low salary, etc. But the truth is in a recession and bad economy not everybody is in debt.
STOP ACQUIRING NEW DEBT. This is a no brainer, right? But the truth is sometimes we still continue to acquire new debt thinking that we’re going to pay them off next month, next quarter, or next year. But the truth is, acquiring new debts will only make you drown in debt more. You should stop acquiring new debt.
START ESTABLISHING AN EMERGENCY FUND. One might think that this is counter intuitive, shouldn’t we pay off our debt first before we set aside funds for emergencies? Wrong, sometimes the reason why we get into debt is because of unforeseen expenses, emergency expenses, by stabling an emergency fund we make sure that we have somewhere to get money from in case of an emergency. However, do make sure that your emergency fund is not easily withdraw-able. Make it a little harder for yourself to access your emergency fund so that you’ll have more time to process whether you really need the money in your emergency fund. My own practice is I set aside 10% of whatever income I get and put it into my emergency fund.
START PAYING OFF YOUR DEBTS. Needless to say, for you to get out of debt you need to pay off your debts. I think to do this you will have to assess your situation. What I advise though is start off with the ones that has the highest interest, and assess how much can you pay each month.
AVOID OR LESSEN YOUR EATING OUT, SHOPPING, AND GOING TO STARBUCK’S. Do you really need to eat out? Does it serve a purpose other than satisfying your taste buds? Do you really need to shop for a new set of clothes? Do you really need to have that Php 140.00 of coffee?
To help you have more determination in dealing with your debt, you can recite the Mantra of the Yellow Dzambhala – OM DZAMBHALA DZALIN DRAYE SOHA. To know more about the Yellow Dzambhala read my post entitled – INCREASE YOUR WEALTH BY PAYING HOMAGE TO YELLOW DZAMBHALA. But remember, more than increasing your wealth, Yellow Dzambhala can also help you ‘manage’ your wealth.