introducation:
(1) When I started my career at the age of 17, my father had a loan of Rs. 22 lakhs. And today, Rs. 22 lakhs can be equal to Rs. 50 or 60 lakhs. Within just 2 years, I was able to pay off that loan and take my family to a better home. Friends, if you have also been in a debt in your life, then you have come to the right person and are watching the right video. Hi friends, I'm Snedha Sai, Life Coach and Business Coach. I have designed this video very comprehensively in which I have given very practical steps and I have also explained what a loan is.
(2) And more than that, how to create a psychological shift in the end, how to stay positive, I have covered all those things. So watch this video completely. If you are new to our channel, then do follow or hit the subscribe button so that you can watch regularly life-changing videos. When we get into debt, we feel mentally down and we don't consider ourselves worthy. But I want to introduce you to a person, the great Amitabh Bachchan. It was 1999 when he also went into debt of Rs. 90 crores due to a huge loss in his business. And he was facing 55 legal cases. And he goes to Yash ji and says that
(3) I don't have a job, nor is anyone giving me any work. Nor am I making any films. And I have come to you so that you can give me some work. And then Yash ji made a film for him called Mohabatein and after that KBC started. But I want to tell you from this story that if such a big superstar or such a big person can go into debt in his life and come out of it, then one thing is for sure, friends. If I or you go into debt, don't worry. This has happened with big people as well. And we can come out of it. I am going to teach you this today. So, first of all, I would like to tell you that there are two types of debt.
(4) One is good debt and the other is bad debt. That is, the loan can be good or bad. The good loan is for education, real estate, or business. It means that you took a loan for those things from which you will get growth in the future, you will get to learn something, or your money is going to be appreciated. Or the bad loan is that credit card, car, marriage loan, where you put money and that money will be depreciated or in which the interest rate is many times higher. Now this is the bad loan. Now friends, we have to always keep ourselves away from the bad loan. We have to save it.
(5) But if you create calculated good debt and you are making more money than that in the future, then it's absolutely fine. The reason for that is that big businessmen also move forward by taking loans. That is why I would like to tell you, friends, that taking money on loan is not bad. But who is taking this money? Who is the person who has taken money from the market? That is a very big question. Because if a smart person, if there is a person who is going to multiply that money with his smartness, then there is no problem. Now you may have started with the same thought,
(6) but it is possible that due to not understanding it completely or what you wanted, it was not executed in that way. That is why you may have booked a loss. But it's okay. Now let me tell you this, that at least from today we are not going to take any new loans. That means, we will not take any new loans to cover it. First, we should have a singular goal that how to completely remove the loan that we already have and become financially free and move forward towards new earnings. So there are 7 steps for that.
STEP 1:
(1) Number 1, from where I would like to start, and that is, that whatever loan you have, first make a list of it and prioritize that list interest-wise. That is, let us suppose that you have a home loan of 50 lakhs, education loan, credit card, unsecured loan, whatever it is, put its amount, type of loan, and with that, write down the interest rate in the adjacent. Now once you prepare this list, which many people do not do,
(2) the reason is, they say that if they make a list, they will be afraid. But if you do not check, that how much weight is there now, then how will you know how much reduction is needed? Just like that, what is the condition of the loan now, first write it on the paper. There is no point in keeping it in mind. When you bring it on the paper, then your mind will be able to focus it and figure out how to get out of this. So write it and make its total.
(3) Now what to do, prioritize it, that in which, the highest interest is high, keep it up and in the sequence, descending order. Now, what will happen with this? It is a matter of common sense that the interest is high, pay it out quickly. The reason for that is very simple. Because friends,
(4) if you focus more on home loan, whose interest rate is not high, but you will be surprised that when you count it according to 32%, and delay it as much as possible, then you will not know when it will reach here. And that's why, you have to go to the minimum as much as possible here, but have to go to the maximum here. And the one whose interest rate is high, first free yourself from it. That is way number one. But there is another way too. Many times people adopt another way,
(5) that the smallest one, people want to clear it quickly, that in that excuse, a feeling should come that the number of loans I had, that has reduced. And there is a third way too. That from this, the one which is mentally bothering you the most, first get free from it. As an example, you feel that this personal loan of mine, and in that, you know, those people are eating my head,
(6) and they are after me. If I get free from that, then it will be easier for me to manage other things. So for psychological freedom too, you can choose which one you want to clear first. But ideally, work on the one whose interest rate is high, but there are two other ways too, about which you can think
STEP 2:
(1) STEP 2 Now the second step is, to do your budgeting. Whatever you are spending, whatever earnings you are making, first bring it on paper. Now friends, when you write your earnings, and also write your expenses, then you will start to understand, that how much money you need to live a good life. So start making a budget. Hold that budget. Now when the budget is made, then you will know, that how you can pay off your EMI or loans. Now for that,
(2) it is very simple to do. Make a list of your income, make a total, make a list of expenses, make a total. And the difference amount, maximum difference amount, you have to use to pay off your loans. But for this, sit down and start writing. And from today, I would like you to write down whatever you are spending. Because sometimes, you spend a lot. When you don't write it down, you don't bring it in front of you, then you won't know,
(3) that was this expense actually necessary for me or not. Now when I am telling you to make a budget, then the ideal budget is made from this model, in which 50% of your needs to live a good life, 50% of your income should go in that. 30% your wants. Shopping can come in your wants, entertainment can come. And you know 20% your goals, or future savings. Now, these future savings, ultimately you call it a retirement fund, or you call it creating assets from it. Now what to do? When you have a loan, then the 50% that you have,
(4) friends, that, even though you are managing to live your life, but the remaining 50%, both of these, you will use it as much as possible, to pay off your loan. Temporary, once and future goals, score, make it down, and all that money, to give yourself freedom, the freedom we need from the loan, start using it for that.
STEP 3:
- Now, the third step I would like to give you here, temporarily, play low. Meaning, any expenses, that give us happiness, give us joy, it's not the time for that. Friends, groceries that are coming home, or restaurants or cafes that you are going to, or you know, movies or outings, that are in subscription, like Netflix, etc. So, it's time to reduce all those things. In depreciating assets, we are not going to spend,
- and we are not going to do unwanted shopping either. See, that someone's money is in their pocket, and we enjoy our life, in this way, friends, even nature is not going to support us. I remember, that from 17 to 19, my age, till I had paid off my loan, I had paid off my father's loan, till then, I had not focused on entertainment in my life. There were no parties, and there was no birthday celebration either, which you need to understand. After that,
STEP 4:
- fourth step, no overspending. Meaning, till this loan is not paid off, you, don't have to think about any big new expenses. For example, buying a new house, or buying a new car, get a renovation done because Diwali is coming or if there is any temporary expense behind the wedding, then delay the wedding or manage it with minimum expense.
- Or buy a new vehicle, go out somewhere, we have already talked about shopping. Okay, start a new business. See, starting a business, generating new income is good, but don't do something where you have to invest a lot of money. And especially no credit cards. Because friends, the interest of the credit card is very high and sometimes you don't know how much money you have spent on the credit card. So you have to be very very careful with this. And next step, fifth comes,
STEP 5:
- that you have unnecessary items lying around at home, that are doing the work of a clutter, you are not even able to use it, sell it. See, nowadays, by going to OLX and Quikr, anything can be sold second hand. So you can make some money out of it and you can pay your loans from it. Now anything that you have not used for more than a year, it is of no use to you now. You can sell it if you want.
- As an example, friends, see, it could be an old mobile phone, it could be a furniture, it could be a book, it could be your old sports equipment, clothes or a vehicle, computer, laptop or camera, or it could be a bag or kitchen appliances, and there are many other things that you can think of. But if you have not used it for a year, then go out, sell it, make some money, and quickly clear that high interest loan.
STEP 6:
(1) After that, the sixth point comes, focus on increasing your income. Now see, it will not work even if you save some money. You need to pay a lot of attention to increasing your income. Friends, if your income increases, it will be easier to manage your loans. Now there are some simple steps to increase your income. Number one, work for more hours. If you are working for 8 hours and you can get more money by working for 10 hours, you can do that. Number two, and that is taking new responsibility.
(2) Take a new responsibility in your job profile. And for a new responsibility, if you are getting more money, promotion or anything, then go for it. Number three, start a new job part-time. Now that part-time, friends, if you have a car, then you can drive Uber or you can deliver for Swiggy. Or any part-time job that you can start. Now it can be a job or a new venture. For example, you can sell insurance or you can come in direct selling. And along with that, the fifth, learn something new.
(3) If you learn something new, you will be able to produce new income. For example, you have learned graphic designing, video editing or social media marketing. And through that, you started generating a new income in part-time or freelance. So the more focus you will do to generate new income, the easier that loan will be for you. But now I am going to share the most important point with you, which you must have not seen in any video. And that is the psychological aspect.
STEP 7:
(1) Because it is important that you change the thoughts, words, questions in your mind. If these questions change from your mind, then you will be able to get out of your debt quickly. Let me explain. When I ask you, will you take roti or rice? You will choose one of the options I gave you. But if I tell you that you don't want to take anything else in food, then it is a simple fact that you will not get 90% of the answer. The point is, the question I am asking, the answer is going to be the same. So you also ask the question and answer to your mind, the answer will be the same. And you need to change the language, you need to change the question.
(2) For example, when we think that I will not be able to face the debtor, instead of that, you need to change your language that what will be the worst? And the second is that I will be honest, I will be committed because I have to pay the money. Now this is very important because this makes a person depressed. Somewhere, friends, he starts thinking until he ends his life. But just change your language and see it's going to be easy for you. Or if you are thinking that I am useless if I can't feed my family. Again, don't get depressed by this. Because the reason is that if you don't feed them, who will feed them? And that's why you have to stand, you have to be positive.
(3) Friends, many times we start thinking how will I be able to afford it? But I want to say that if there is a good opportunity, you can learn something good, then you should say what can I do to afford it? See, there is a huge difference. The answers you ask will be the same. Friends, when my father's factory was closed and we went to a rented house, if I had asked this question that what did I do to you? Then, friends, I would have only got negative answers. But then I asked this question that how can I support my family? And it changed everything. So, you know, change your language. You will find a way.
(4) And with that, friends, you know, this is the best one. If you ask why am I in so much debt? Instead, you need to change your language that how can I get rid of all this debt as soon as possible? Ask the right question, you will get the right answer. Change your psychology. And when your psychology changes, your language changes, you will find a way. You know, when you ask the army anything, they answer you by shouting, Yes, sir! Now, it does not mean that they will win every war because they are saying, Yes, sir! But they are training their psychology so that they can win maximum war.
(5) Friends, getting rid of this debt is a big war. And let me tell you, I am with you because I have gone through that situation. Friends, a thumbs up is necessary if you think you have learned something good. And share this video. Share it with your most friends and friends. Because we don't want anyone to sit at home. We don't want them to go into negative thinking. Or maybe they drown in debt and end their life somewhere. And you can help them by sharing this video with as many people as possible. But friends, I would also like to tell you that if you want to learn something new and earn more money, then I would like to share this opportunity with you that I have
(6) a special program, You Can Be A Millionaire. Friends, you can also become a millionaire. I have a 4-hour live workshop on Zoom on this. If you haven't attended it yet, then it is a must-attend program in which you will learn about high-income skills, why you are in financial problems, you will understand the root cause of it, how to get out of it, how to create wealth, how to get passive income. I teach all this in that 4-hour workshop. Now, friends, I am 34 years old. And when I have created a net worth of 100 crores, then I believe that it can be possible for anyone with this understanding. And this program, friends,
(7) the original value of that program is 10,000. But I would like to share it with you on a token charge of 299. Because I am not here to market. I am here to genuinely help you. And that's why, friends, I give 100% money-back guarantee of this program. So that at the end of the program, you feel that whatever you gave, you didn't get it back. So just tell us, friends, we will give you your full money back. The reason for that is very simple. That our goal is only to help you achieve your goals. So, friends, when is this program? How can you attend? You will get all that information here.
(8) And you can also register there. Youcan. snedesai. com So go there quickly. Register there now. And you will also get some bonuses. Friends, if you liked today's video, then make sure you are hitting the follow and subscribe button. So that you can stay connected with our channel and get such life-changing knowledge. Thank you so much.
