Skilled Trade Rescue Weekly Newsletter: Mentoring Skilled Trades Professionals for Success in Business and in Life
The Strength To Carry a Heavy Load
As a tradesperson, you know the strength it takes to carry a heavy load.
Maybe it's muscling a steel beam into place, lugging a ton of tools, or just grinding through a long day when your body feels like a sack of hammers. You know the weight gets heavier the longer you hold it, slowing you down and making every step harder.
Debt can have that same effect.
While some business or personal debt can be good, even unavoidable, carrying any high-interest debt for too long has a massive cost. It keeps you from financial freedom because the interest—that greedy Debt Dragon—eats into your hard-earned wealth.
The Debt Dragon forces you to take jobs you don't want because you need to make those payments. It sits on your hard-earned money and keeps you from building the wealth you've been busting your butt for.
Are you Trapped?
When the workflow seems to be feast-or-famine, it's easy to take on debt just to fill in the gaps. We get it! We’ve heard people say something like.
"I was always one breakdown away from a complete disaster," I've heard tradement say. "Every month, I was just paying the minimums, and it felt like I was working just to make those payments. I was a slave to the money I owed. I was making great money on paper, but I felt trapped."
Remember, Debt doesn't care how much you make or how steady your paycheck are. It’s a huge momentum killer and a thief of your future.
It steals from your ability to
Save for a home,
Invest in your business, or
Build a solid emergency fund.
Every dollar that goes to paying high-interest debt is a dollar that could have been working for you—building wealth, not just putting out fires.
The Most Direct Attacks on the Debt Dragon
There are several tried-and-true ways to make debt a thing of the past.
Martin built the Money Muscle course to get you started and familiar with both great strategy but also some killer power moves that can save you a lot of time and money. Don't wait, check it out today!
Get the FREE Money Muscle Course Today!
One Way to Slay the Dragon
The Debt Snowball isn't about math—it's about behavior and momentum. It's about building a project you can finish, one small victory at a time, to give you the head of steam you need to knock out the next debt and finally get free.
Here’s a battle plan:
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List Your Debts: Write down every single debt you have, from smallest to largest balance. Ignore the interest rate for now. This is about a clear view of the battlefield.
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Pay the Minimums on all but one: On all debts except the smallest one, pay only the minimum payment each month.
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Attack the Smallest Debt: Throw every extra dollar you have at that smallest debt. Get a bonus? Put it on the debt. Work an extra shift? Put it on the debt. That's your first target.
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Keep the Ball Rolling: Once that smallest debt is PAID OFF, take the money you were paying on it and add it to the minimum payment of the next debt on your list. This is where the magic happens. Your payments get bigger and bigger as you go, and you build momentum faster than you ever thought possible.
This WORKS! And you'll be that much closer to the feeling of relief seeing your debts done and your Emergency Fund growing.
Need something MORE POWERFUL?
Want to speed up the timeframe, save hundreds on interest payments.
Don't wait to learn these Power Moves! Get the power tools you need to get a handle on debt and free up your income to start making you wealthy.
Get Martin's course today!
And join the STR community where we are welcoming several financial mentors to give their pro tips to guide you even further.
Ready to Upgrade Your Financial Power Tools?
Get the Money Muscle Course and either start from the begining or skip right to Power Move #3 to get right into the debt topic.
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