Tag: debt

This week's question from my portal “The Neagle Code: Directions for Life” comes from someone who wishes to remain anonymous.

Is it ok to go into debt to build your business and invest in business growth strategies?

Hi and thanks for your question.

This question is the perfect example of my teachings on using debt as a tool.

I truly believe that the best use of debt is in the investment in your own growth, whether it’s personal, spiritual or business.

If you talk to any successful business owner you will see that they have used debt to propel their business.

However, there are parameters around using debt to grow your business.

First, before considering taking out a loan, you MUST have a plan. You must have an actionable strategy with clear-cut goals and benchmarks or be investing in a program that’s going to give you that clear-cut plan.

Second, you must be WILLING do what it takes to get a return on investment. This means you have to take action on your plan, and allow nothing to stop you.

A plan and goals are only as good as the paper they are written on.

You must be WILLING
to take action.

I see entrepreneurs EVERYDAY who spend money on building their business or getting the information they need to build their business, but they never take the action they need to take to grow, and life becomes very hard.

The debt piles up and stress, worry, fear and doubt take hold.

Suddenly they find themselves wondering what happened and why things aren’t working and why things are so hard.

You see…success is EASY if you are willing.

PS: If you enjoy reading my weekly Neagle Code, you'll LOVE my podcast, The Successful Mind. You can expect cutting edge information and strategies relating to success mindset, leadership, wealth creation, and relationships, all based in Universal Law and my own experience creating a multi-million dollar business.

Will you do me a favor? Subscribe, listen and leave me a review! I'd love to know what you think!

Thanks in advance…click on the graphic below to listen in:

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This week's question from my portal “The Neagle Code: Directions for Life” comes from someone who wishes to remain anonymous.

Hi David! You teach that money is energy, and it occurred to me that debt may be a reflection of having received more than one has given.

Is that accurate? If so, what is the best way to reverse this equation?

It seems obvious to say ‘give more' – but give what? I don’t have ANY extra financial resources.

Thanks.

This is an excellent question!

Many people have issues with debt and the stigma and shame that come along with it.

To address your first question, debt is not a reflection of having received more than one has given.

Debt is essentially a tool and should be used as such. Most people think that debt is “bad,” but imagine what your life would be like without it.

How would you purchase a house or invest in education or experiences for yourself without it?

Instead of thinking
of it negatively,
be grateful for it.

All that being said, if you’re accumulating debt from a dysfunctional place, it’s very important that you address the underlying reason for your spending habits.

Are you buying things to fill a need (love, security or self esteem), or are you investing in your growth?

The second part of your question deals with something very different…

You alluded that it’s tough to give if you’re in debt.

When you give, it doesn’t have to be financially.

Doing a favor for a neighbor, giving of your time or your talents, and volunteering are just a few ways to “give” until you have the resources to give financially.

PS: If you enjoy reading my weekly Neagle Code, you'll LOVE my brand new podcast, The Successful Mind. You can expect cutting edge information and strategies relating to success mindset, leadership, wealth creation, and relationships, all based in Universal Law and my own experience creating a multi-million dollar business.

Will you do me a favor? Subscribe, listen and leave me a review! I'd love to know what you think!

Thanks in advance…click on the graphic below to listen in:

iTunes | Android
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This week's question from my portal “The Neagle Code: Directions for Life” comes from someone who wishes to remain anonymous.

Hi David,

I really, really desire a new car. But I also have credit card debt that I need to pay off. I hear your voice in my head telling me to act on my desire, but I also have a voice in my head telling me to pay off my debt FIRST. Am I thinking about this inaccurately?

Great question!

I think the real question here isn’t actually about where to spend your money; it’s a question of mindset.

You see, the lower and middle class mindset is steeped in the word “OR”.

They ask, “Should I do this OR should I do that?”

They see limitation and lack.

The wealthy think in terms of “AND”.

They ask:

“What would need to happen for me to do this AND that?”

OR

“What would I need to do differently so that I could have this AND that?”

They see possibility and abundance.

I want to encourage you to think like the wealthy.

What are you resisting doing or being that would allow you to pay off your debts AND purchase the car?

TRUTH: You wouldn’t have the desire to do both
if the opportunity to make the money wasn’t also here.

That’s the question you must ask if you wish for your financial situation to change.

PS: The Neagle Code: Directions for Life is a weekly no-cost program that is open to everyone! Each week, I'll select and personally respond to one question that I feel in my heart will help the most people. (You may choose to remain anonymous if you wish, with our full support.) It is my deep, heartfelt intention that ~ in answering your questions ~ I may provide you with the Universal Truths that in committed application, will set you free. See the sidebar to ask your question today!

 

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This week's question from my portal “The Neagle Code: Directions for Life” comes from someone who wishes to remain anonymous.

Hi David,

I have been listening to your Art of Success Business School podcast (which is amazing) and realized a pattern I have perpetuated my entire adult life. The pattern has been to invest in school, and now my business, which creates debt. That in turn creates pressure to work to eliminate the debt, which I always have, only to turn around and repeat the same pattern. My question is now that I can clearly see this pattern, how do I get to the root cause of it?

Hi, and thanks for your question!

Here’s the thing…getting to the root cause isn’t necessarily going to solve the problem, and it will just distract you from doing what’s necessary to change the pattern.

Sometimes it takes a while to get to a root cause, and it’s even more difficult if you’re trying to do it yourself.

What I suggest is to start focusing on the solution to the issue rather than on the cause (which just keeps you in the pattern).

The solution is to
RAISE YOUR BOTTOM LINE.

Right now, you’re used to only bringing in “just enough”. You have to raise that bottom bar.

For example, instead of setting your sights on just bringing in enough to survive, increase that to 10%, 20%, 30% ABOVE what you need to just get by.

And then DO NOT LET YOURSELF off the hook.

You see, it’s a two-part process. The first part is making the decision to bring in more than enough, the second part is being willing to do whatever it takes to make sure you hit that goal.

You may want to start with a small increase to begin to build that muscle, and once you hit that goal, use that momentum to keep going to the next goal.

You’ll have to keep those commitments to yourself or this won’t work. You must not stop prior to hitting the goal.

If you do, you’ll be back in the same pattern.

Give yourself this new experience of bringing in more than enough, and you’ll break the pattern!

If anyone else is interested in my Art of Success Business School, click here for free access:

https://itunes.apple.com/us/podcast/david-neagles-art-of-success-business-school/id1263237772

This week's question from my portal “The Neagle Code: Directions for Life” comes from someone who wishes to remain anonymous.

This week's question from my portal “The Neagle Code: Directions for Life” comes from someone who wishes to remain anonymous.

This week's question from my portal “The Neagle Code: Directions for Life” comes from someone who wishes to remain anonymous.

This week's question from my portal “The Neagle Code: Directions for Life” comes from someone who wishes to remain anonymous.