{"id":2072,"date":"2018-09-18T20:18:20","date_gmt":"2018-09-18T18:18:20","guid":{"rendered":"https:\/\/financiallyfitlife.co.za\/?p=2072"},"modified":"2019-12-29T13:14:03","modified_gmt":"2019-12-29T13:14:03","slug":"how-to-get-out-of-debt-fast","status":"publish","type":"post","link":"https:\/\/financiallyfitlife.co.za\/blog\/how-to-get-out-of-debt-fast\/","title":{"rendered":"Is Debt Stealing Your Financial Wellbeing?"},"content":{"rendered":"

[et_pb_section fb_built=”1″ admin_label=”section” _builder_version=”3.22″][et_pb_row admin_label=”row” _builder_version=”3.25″ background_size=”initial” background_position=”top_left” background_repeat=”repeat”][et_pb_column type=”4_4″ _builder_version=”3.25″ custom_padding=”|||” custom_padding__hover=”|||”][et_pb_text admin_label=”Text” _builder_version=”3.27.4″ background_size=”initial” background_position=”top_left” background_repeat=”repeat”]Watch the videos here.<\/a><\/strong><\/p>\n

\u2018Being debt-free\u2019 is the general response at 99% of my financial talks, when I ask the question \u2018what does financial freedom mean to you?\u2019 Debt and often over-indebtedness still seem to be the biggest financial concern for many South Africans. The statistics are showing that R19million of South African adults are credit-active of which R11million are over-indebted. Convert these figures and it becomes clear that almost 30% of South Africans are over-indebted. Considering the statistics, debt and over-indebtedness are universal concerns. Many people are stressed about their level of debt.<\/p>\n

I was fortunate that my parents had a \u2018cash is king\u2019 mind-set. I have grown up knowing we couldn\u2019t have something until we can pay cash for it. This was probably one of the best lessons my parents taught me, because when I started earning my own money I applied this principle. I saved up to buy my first car cash and the second one and the third one\u2026 The fact that I bought my first car cash definitely helped me in a big way to buy my other cars cash too.<\/p>\n

When I had to apply for a bond to buy my first house it was a scary thought. Fortunately I saved money for a big deposit and I could buy all my furniture and appliances cash, but having debt made me feel very uncomfortable. Even more so because I bought my first house in 2008 just when the recession hit the ocean and sunk many people\u2019s boats. I had one objective in mind: to become debt-free as quickly as possible.<\/p>\n

I applied these three methods:<\/p>\n