Personal Finance: When You Find Yourself In A Hole! (1)
The first principle has the title of "If you find yourself in a hole" and you'll know exactly why after a minute.
You might be in debt like almost everyone now, and being in debt is very stressful we all know.
It's not something you could forget even if temporarily, it keeps haunting you all the time and will ruin your well-being.
Most people don't know exactly what got them in debt or what happened for them to reach such a bad financial position, and it's the real disaster here.
but hopefully, through this crash course, we'll figure it out together, and solve your financial problems day by day.
Warren Buffet once said a quote that perfectly fits on debt, he said:
The most important thing to do if you find yourself in a hole is to stop digging
If you still can't get it, I could explain:
Probably what got you in debt was your buying decisions, you buy things with your credit card when you don't have enough money to, it's even worse when these things aren't needed, just some unnecessary fancy products.
So now since you're in debt, you're in a financial hole, so what is the first thing you could do? As Warren suggested: To stop digging! To not make your financial position worse, and to stop buying things on credit, ESPECIALLY UNNECESSARY PRODUCTS.
This principle as simple it is, it never fails, and if you put it into action, maybe your life won't change 180 degrees at once, but at the very least you won't dig deeper, and you won't get yourself into even worse financial position.
By not digging deeper you get to stabilize things a little and start getting out of this hole.
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