Reduce Debt

“There are but two ways of paying debt:

Increase of industry in raising income, increase of thrift in laying out.”

~ Thomas Carlyle


Because having cash or having easy access to cash at the right time is important in today’s society, we often over look the fact that we may not have those funds readily available. In fact we often put ourselves in Debt because of poor cash flow management.


At times Debt can be a good thing. On a personal level, if you have a mortgage then you have debt, investing in education can create debt, and improving your standard of living can increase debt. These are good debt situations right? In all of these cases you have generated or created something of importance and value to you and your family, but have incurred debt to get there.


On a Business level it is no different. Debt may have helped you establish the business that you have today, you may have incurred debt to expand and grow, or you may be looking at additional funds for investing in the future of the business. And again, these scenarios have created something of importance and value to you and your Business.


However, if you allow your level of spending and borrowing to become excessive and out of control, it can lead you down a path that you don’t want to be on.
So what can you do and what are some practical ways that you can Reduce Debt?


Let’s start by gaining control of your finances, and to do that you really have to take a look at everything you have (and don’t have) when it comes to your finances. We’re talking about all of your expenditures and your income (from all sources), along with your assets and liabilities.


Believe it or not, creating a debt-elimination plan does not need to be confusing or complicated, you just have to organize yourself, create a plan of action, and then implement.


* Increase your Income

* Reduce your Spending and Expenses

* Restructure your Debts & Liabilities

* Restructure your Assets


At Herod Financial Services we help our clients reduce debt, we show them painless ways to cut back, and creative ways to restructure, and together create a debt-elimination strategy that will encourage positive cash flow management.