Sometime ago, I was dealing with a fellow in the motor industry, and he had an agreement with quite a large motor repairer, to do their vehicles. He was going through a tough time, most probably wasn’t as strong mentally as he could be at that time. He’d had been 12 or 18 months of being harassed and worrying and feeling like he was going to lose everything.
When you’re depressed or when you’re focused on something and it seems to me that when I sit with people, that are going through this financial hassle in business or whatever, all they start to do is focus on themselves.
“JAKE ASKS: I have read your book and love it. Using your formula I have already paid off a long-term debt. Unfortunately, my partner and I have separate finances (her choice) and I recently found out that, in the time I paid off my debt, she racked up another for twice as much. Frustrating! We both earn OK incomes (combined $200,000), but are still renting at age 37. As we have three kids, I really want to get into our own home in the next four years … how do I convince her?” Read More
“The universe is telling a self-employed tradie, caught in a debt trap, to start looking for a regular job, writes Barefoot Investor”
Doug Constable Replies: It is easy to say that, “To start looking for a regular job”, but to me I would think that someone that is self employed, is self employed because they want to be self employed
And maybe they should start learning what really does self-employed means as opposed to looking for another job
The freedom, opportunity and the strain dream of having a growing business is always there,and if I am not making enough money, most probably they need to go out and work out how to make more money as a tradesman as their own business as opposed to just be in a rut to be looking for a job Read More
The subject explained in the news at the moment is Barnaby Joyce and his dual citizenship. Now I know as an Australian citizen, that I would love to have the best people running our country – the people that make the decisions based on what is good for our country and the citizens of our country.
Getting towards the end of the season in footy, for those that know me now, know that I follow Carlton Football Club. One of the things that I think is so important is that the path Carlton has taken over the last couple of years.
One negative comment needs seven positive comments just to balance it out, in your own mind and how you feel about yourself. This is something that i learnt years ago. And what I find happens is, quite often, when people find themselves in debt or not quite able to make ends meet, they start talking about failure, of not earning enough money, those sorts of negative comments.
So the hot dog story. I would have heard this 30-40 years ago. And It’s something I try to remember. It’s a humorous story but it’s got a very good message to it. And it relates back to after the war and of course there are a number of settlers that came to America of all different ethnic backgrounds and came and settled in America. And one of those couples that came to America and virtually had nothing. They settled near a major road.
One of the things that is topical at the moment is why use a pre-insolvency person.Yeah of course, I’ve got a vested interest because I guess I am a pre-insolvency person. One of the advantage of using a pre-insolvency person is that they work for you. Now, again there are different types of pre-insolvency person.
One of the things to think about is when you’re being confronted by a situation whether it be: an angry creditors, someone after you for money or someone that you disagreeing with, is what approach you are going to take. And, You can either take the oaktree approach where you stand up and you just are going to withhold it and not bend and not flex or you can take the palm tree approach where you bend and go with the wind and just go backwards and forwards and rock until the storm passes.