Happy Labor Day 2023!
Since the 1800’s, we’ve celebrated the people whose work has built our great nation. It’s really impressive to see how advanced our country has become in such a short time.
But I read a statistic yesterday that shocked me… and chances are, based on the statistic, that you are in this category…
Over 54% of Americans live Paycheck to Paycheck. 🤯
As I read that stat, I asked myself, “How in the world is over HALF of our country living paycheck to paycheck?”
Now I realize that there are a wide range of reasons, some entirely legitimate. But I also realize that some of the reasons are due to overspending on things that people can not afford and are a “want” vs. a “need”.
The consumer debt for our country has reached an all-time high, where credit card debt alone has breached the Trillion Dollar mark!
Team, I’m here to tell ya two things…
#1 The key to getting out of debt and becoming financially free is to figure out ways to earn more money.
There is NO shortage of money exchanging hands every single day. If you’re in debt and/or living paycheck to paycheck, your mission needs to become figuring out ways to provide more value to people willing to pay you more for that value. If you cannot do that where you currently work, either change jobs or start additional revenue streams.
#2 Stop living outside of your means.
If you can’t afford to pay cash for something, don’t buy it… unless it’s required and an absolute NEED and not a WANT. Credit card companies are more than happy to charge you 15% to 20% interest so that you can only make the minimum payments and stay in debt. It’s how they get rich.
Look, I realize that times are tough right now for many of you and when you’re living paycheck to paycheck, it can be tough to see the pathway out of that situation.
Christen and I were there once, and it SUCKED! It’s a major reason why “Wealth” is one of the three pillars of the Ubuntu Community. It’s also why we have Rondi Lambeth coming on to do a live coaching call tomorrow in our community.
If you’re looking for many ways to get out of debt and get to a place of financial freedom, check out what’s going on inside our Ubuntu Couples Community.
Go forth and conquer!
Matt