Debt Free after 50 Years!

I hope you don’t mind but I am going to share something which is very important in my life and something I never thought I would ever experience.
This week I paid off my final debt and I am completely debt free for the first time in 50 years. My first debt was at the age of 18 when I borrowed some money off my dad, and I have lived in debt since then.
I didn’t understand finance and the importance of saving and spending less than I earned. I simply lived for the day and expected everything to work out just fine in the end. But as a lot of you know it didn’t.
I had great belief that it would all work out
My belief was that I could borrow money to have what I wanted then I could pay it off over an agreed number of months. I worked out how much I could afford each month then I would buy something on credit, or I would borrow some money which I could pay back over the agreed period, always paying more than I borrowed.
I received a grant to attend college and I spent the whole term’s money in the first two weeks. When I worked for various companies in sales roles every time I received a bonus I would be off to America or Hawaii having a great time not caring about the future.
My positive attitude was actually harming me because I wasn’t being realistic and planning for the future.
Then it all came crashing down

12 years ago, aged 56 I ended up unemployed, £40,000 in debt, my house in negative equity, I was on my own after a second failed marriage and I was living in the same bedroom where I was brought up as a child in my mum’s home in Nottingham.
For 4 years I painted and decorated to pay the bills then I came across some powerful principles of Mental Resilience which I applied to my life and since then my whole life has changed.
I share this not to brag but to hopefully inspire you with my story which demonstrates that even if you are going through tough times there is hope. No matter how dark things look there is always hope of a brighter future if you apply mental resilience principles and financial wisdom.
There is life after a failed marriage, there is life after being in deep debt, there is life after bankruptcy, there is life after redundancy, there is life after rejection. I know because I have experienced all of these.
You need to be consistent
One thing I have learned is this – if you consistently spend more than you earn you will end up in disaster. If you consistently spend less than you earn you will live a happy peaceful life. My wife Julie and I have a range of jars which we put money into every week without fail.  
Over the years these jars have paid for so many things in our lives. Since I met Julie my mindset on money has changed completely and I now actually fear being in debt. The thought of taking out credit on anything scares the life out of me. I owe a debt of gratitude to Julie.
The lovely car I have is paid for, the house is mortgage free, I have no credit cards and no overdrafts. I have savings in several accounts and the debt I have been paying with the help of my wonderful brother Richard and his equally fabulous wife Adele for 13 years has this week been paid off early leaving me completely debt free and in great peace.
Now I’m building for the future
My job now is to build up my pension pot so that we can live a comfortable life in our old age.
This is still sinking in, and I haven’t quite understood the amazing position I find myself in. I look back over these past 8 years and see that consistency and financial wisdom have changed my life forever.
My dream is to be blessed financially so I can be a blessing. I love to help people who are in need and as the money comes in I will give it out. There is great pleasure in helping people and what a way to live. I can help people with their Mental Resilience and now I can help them financially too.
We have set up a foundation
We have set up a foundation to do this very thing and it is so exciting to have the money to help people. This is something I have never experienced before, and I am still trying to process the feelings I have regarding this. I think the main emotion I experience is joy.
During the past 8 years my Dream Board has been my main motivation to succeed. I have pictures of things I want to achieve on the Board, and I would visualise achieving these every day. I also have some positive affirmations to keep me going as well as Gratitude to help me when things are tough.
And I can promise you that things have been very tough. In the early days there were many times when I thought I would run out of money, and I would have to give up on my dream. My sister who worked for me for 4 years before she passed away 3 years ago couldn’t understand how I could carry on when things were so bad – but I did.
Thoughts for the week 

  1. What areas are you struggling in?
  2. Where are things tough for you?
  3. This week take stock of your situation and start to believe that things can improve.
  4. They won’t improve overnight but if you apply good principles and consistency you will wake up one day in the future in a place you never dreamed of. 

Well that’s if for this week have a wonderful weekend and keep believing.
Warm regards


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