This is an excerpt from Simone Milasas’ book Getting Out of Debt Joyfully. Simone is the founder of Joy of Business as well as the Worldwide Coordinator for Access Consciousness® which is now in 170+ countries.
Editor’s note: This is one person’s experience and should be treated as such. For more articles about money and finances, click here.
Simone Milasas was $187,000 in debt when she realised she needed to make a change. That’s a lot of money, and she had pretty much nothing to show for it. While Simone enjoyed having lots of jobs and travelling around the world, she didn’t have a house or investments or any awareness of how much debt she was really in.
With the help of some of the tools listed below, she was totally out of debt within two years.
Tool #1 for having money: the 10 per cent account.
One of the first important money tools I would like to give you is putting away 10 percent of everything you earn, 10 per cent of every single dollar, euro, pound, or whatever currency you create. You are not setting it aside to pay bills with. You are not saving it for a rainy day. It is not for when you run out of money. It is not to pay a big bill that is upcoming. It is not to help a friend out. It is not for buying Christmas presents. It is for none of those things!
You are putting it away as an honouring of you.
People say, “I’ve got bills to pay! How can I put away 10 per cent of my income? I have to pay the bills first.” But, here’s the thing: if you pay your bills first, you will always have more bills. When you pay the bills first, the universe says, “Oh, okay. This person wishes to honour their bills. Let’s give them some more bills.” If you honour yourself by setting aside 10 per cent first, the universe says, “Oh, they are willing to honour themselves. They are willing to have more,” and it responds to that. It gives you more.
Top Comments
I am reading this book right now in English and I look forward to get it translated into French. I love all these practical tools and I use them all the time. They are so different and so efficient. I never read that kind of things before and I have changed my point of view about money and debt. Thank you to the author for that.
I was broke, separated, 3 kids and didn't know what to do. I started using the tools my whole financial reality changed. For me it wasn't super fast it wasn't a miracle it required work. Degree or no degree does it matter? I was looking for a solution, it worked. I now have my own business that is thriving as well as my 10%. And the hardest thing I have ever done is sit down and make a list of all my debt and then record all my expenses and income. That was not easy and it did build financial awareness. It's not for anyone who wants to bitch & moan about debt. This is a pro-active book, and how can you know what a book presents without reading it. This makes me laugh. I'm off to make some beautiful body & facial oils to send to my customers, the joy of creation & money. Yeah ps wouldn't have this business only for this lady. Do what works for you. Follow what you know.