7 Steps to Get Out of Debt and Build Wealth: How I Paid Off Over $390,000 of Debt and Built a 7-Figure Net Worth by Implementing the Supercharged Financial Strategy

7 Steps to Get Out of Debt and Build Wealth: How I Paid Off Over $390,000 of Debt and Built a 7-Figure Net Worth by Implementing the Supercharged Financial Strategy

by Adeola Omole

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Overview

A 7-Step Plan to Financial Freedom

"When it comes down to this matter... of life or debt... this book offers a blueprint for escape - great work!" - Derek Foster, bestselling author of The Idiot Millionaire

"Through inspirational stories and nuggets of wisdom you'll be motivated to pay off your debt... and enjoy financial freedom, too." - Sean Cooper, bestselling author of Burn Your Mortgage

At the age of 27, Adeola Omole experienced a life altering layoff that resulted in her being out of work for 18 months. She was forced to face her six figure debt head on, and was terrified at the prospects of losing her home, and potentially having to file for bankruptcy. Today, she is debt-free, including mortgage free, and has amassed a 7-figure net worth. In 7 Steps to Get Out of Debt and Build Wealth she takes you through her journey from drowning in debt to attaining financial freedom.

7 Steps to Get Out of Debt and Build Wealth shares the strategy that Adeola developed after her life-changing experience in her twenties, whien she was a new lawyer. This proven strategy helped her pay off over $70,000 of consumer debt in less than three years, pay off over $320,000 on her mortgage in 12 years, and also helped her reach a net worth of over $1,000,000 when she was in her thirties.

In 7 Steps to Get Out of Debt and Build Wealth Adeola lays out the steps she took to reach financial freedom, and shows you how you can do the same! She offers inspirational personal stories, and actionable steps that guide you through the financial blueprint she used to attain financial freedom. Now it’s your turn to transform your life with this simple, straight-forward essential handbook that shows you how to:


  • Get into the right mindset so you can take control of your financial life;
  • Prioritize your monthly debt payments so you can pay off your debt faster;
  • Formulate a wealth creation plan that will allow you to live the life that you want;
  • Build life changing wealth that gives you the option to start living your life's purpose;
  • Accumulate funds that allow you to purchase stocks, real estate, and other wealth creating assets;
  • Develop a money management system that sets you up for success;
  • Create your own personalized Debt Repayment Schedule;
  • Find extra money to Supercharge your debt payments;
  • Find extra money to build your emergency fund;
  • Start paying cash for big ticket items;
  • Maintain a debt free lifestyle... and much more.


Packed with so much financial wisdom and tangible tips,7 Steps to Get Out of Debt and Build Wealth will motivate you to pay off your debt faster, and will help you formulate a personalized plan to attain financial freedom, become financially independent, and live the life that you want to live.

Product Details

ISBN-13: 9781775234401
Publisher: Millenium Asset Management Corp
Publication date: 09/25/2018
Pages: 134
Product dimensions: 5.50(w) x 8.50(h) x 0.29(d)

Table of Contents

Table of Contents

INTRODUCTION. . . . . . . . . . . . . . . . . . . . . . . . . .11

False Beliefs About Debt . . . . . . . . . . . . . . . . . . 13

The Truth About Debt . . . . . . . . . . . . . . . . . . . . 13

Types of Debt . . . . . . . . . . . . . . . . . . . . . . . . . . 14

CHAPTER 1. . . . . . . . . . . . . . . . . . . . . . . . . . . . ..17

STEP 1 Debt Motivation Statement. . . . . . . . . . . 17

CHAPTER 2. . . . . . . . . . . . . . . . . . . . . . . . . . . . ..23

STEP 2: Get to Know Your Debt. . . . . . . . . . . . . .23

Secured and Unsecured Debt . . . . . . . . . . . .26

Prioritizing Monthly Debt Payments . . . . . . 27

List Your Debts . . . . . . . . . . . . . . . . . . . . . 28

Debt Repayment Methods . . . . . . . . . . . . . .29

A Word About Credit Cards . . . . . . . . . . . . 31

Two Important Points . . . . . . . . . . . . . .34

CHAPTER 3. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 35

STEP 3: SDRP Debt Repayment Schedule. . . . . 35

CHAPTER 4. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 43

STEP 4: Develop a Money Management System 43

Set Your Goals and Priorities . . . . . . . . . . . 44

Make a Vision Board . . . . . . . . . . . . . . . . . 48

Track Your Spending and Cut

Your Expenses . . . . . . . . . . . . . . . . . . . . . .49

Net Monthly Income . . . . . . . . . . . . . . . . . 55

Sample Monthly Budget . . . . . . . . . . . 58

Create Your Monthly Budget . . . . . . . . . . . 59

Monthly Bill Payment Schedule . . . . . 60

Needs and Wants . . . . . . . . . . . . . . . . . . . .62

Needs . . . . . . . . . . . . . . . . . . . . . . . . .66

Wants . . . . . . . . . . . . . . . . . . . . . . . . .66

Maximizing Your Debt Repayment

Program . . . . . . . . . . . . . . . . . . . . . . . . . . 67

CHAPTER 5. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 71

STEP 5: Add Extra Money to the Debt With the

Smallest Balance. . . . . . . . . . . . . . . . . . . . . . . . . .71

How to Free Up Cash . . . . . . . . . . . . . . . . .73

CHAPTER 6. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 77

STEP 6: Build an Emergency Fund. . . . . . . . . . . .77

Events That Do Not Warrant Dipping

Into Your Emergency Fund . . . . . . . . . . . . .81

Steps To Building An Emergency Fund . . . . 82

CHAPTER 7. . . . . . . . . . . . . . . . . . . . . . . . . . . . . .87

STEP 7: Maintain Your Newfound Debt Free Status

and Implement SWAP Strategy. . . . . . . . . . . . . . .87

Maintaining a Debt Free Life . . . . . . . . . . . .88

SWAP Program . . . . . . . . . . . . . . . . . . . . . 90

Set a Goal . . . . . . . . . . . . . . . . . . . . . . . . . 91

CHAPTER 8. . . . . . . . . . . . . . . . . . . . . . . . . . . . . .95

Other Debt Management Options. . . . . . . . . . . . . 95

OPTION 1. Debt Settlement . . . . . . . . . . . . 95

OPTION 2. Debt Management Program

and Consumer Proposals . . . . . . . . . . . . . . .97

Debt Management Program . . . . . . . . . 98

Consumer Proposal . . . . . . . . . . . . . . . 100

OPTION 3. Bankruptcy . . . . . . . . . . . . . . . .100

CHAPTER 9. . . . . . . . . . . . . . . . . . . . . . . . . . . . . .103

Wishing You Success .103

Parting Thoughts . . . . . . . . . . . . . . . . . . . . .103

AFTERWORD. . . . . . . . . . . . . . . . . . . . . . . . . . . . .107

Snapshot of Debt . . . . . . . . . . . . . . . . . . . . .107

ACKNOWLEDGMENTS. . . . . . . . . . . . . . . . . . . . .127

ABOUT THE AUTHOR. . . . . . . . . . . . . . . . . . . . . . . . . 129

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