Getting out of debt is not always a straightforward process, especially if you’re self-employed like I am.
Last year, I made some business investments that didn’t pay off quite as well as I wanted. As a result, I had to tap my line of credit in late fall and again in January to pay taxes.
With a job, you have predictable income. But in business, cash flow can often be erratic and unpredictable.
The income inconsistencies in business can make getting out of debt a bit more of a challenge. At least, that has been my experience the last couple years.
I’ve taken a lot of steps forward, and a few steps back. The good news is I’m still moving in the right direction… even if I have a bad month or two. I’m aware of what’s happening and know what I need to do to keep moving ahead.
I share all this with you so that you don’t get overly discouraged if your journey out of debt isn’t as straightforward as you thought it would be.
Just keep your eye on the prize (being debt free) and keep doing what’s necessary to get there.
And don’t let a bad month or two derail you. You can do this.
{ 3 comments }
Ryan,
Just read your story. I’ve got quite a number that I’m working off myself. Most of it is from Student Loans, but it’s still debt.
Anyway, just wanted to wish you the best of luck and it’s nice to see that you are on the right track now!
Mike P.
just want Stomp out Debt!
@Mike – Thanks for reading. Student loans are not fun. They’re one of the only forms of debt that can’t be written off during bankruptcy.
@Susan – Did you subscribe to get the PDF report? It’s delivered instantly when you sign up for blog updates.
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