Still reading...need advice

[Trainwreck]

I began reading the book two nights ago and am about 100 pages in. I am intrigued by the book, however I'm confused as to how I am supposed to remove myself from my current rut. It appears that Tim was never financially bound to anything before he became "free".

A little background: I am a 27 year old male, recently sold my first home and have moved back into an apartment. I have accumulated debt, most being credit card related, other vehicle and toy related. My credit is in good standing and has never seen a hiccup. I am trying to get back to square one but at this point I can't see a way out quickly enough to accomplish my dreams. I sell motorcycles for a living and recently changed dealerships so my clientele is "rebuilding". I am 100% commission and have to be here to pick up new clients however, I have open access to the web.

With that being said, how in the world do I remove myself from the hole which I am in? Tim makes a statement in the book that short term pain is miniscule in comparison to long term unhappiness. I am wondering if wiping the slate clean and having to rebuild credit is not the best idea. It would be painful to an extent watching my hard work (building credit) go to waste, but the long term happiness of not being tied down would be tremendous!

Do I need to finish the book to obtain this answer or is this something that maybe one of you can guide me on?

Thank you in advance for your responses!

[whiteblaze]

Not an expert but I am in a similar situation to you..

What I got out of the book (read cover to cover and re listen to the audio book www.audible.com ) is to use your current job to start, and keep that security of your job and follow the steps and exercises that Tim recommends. You could be working (learning) on your new future while keeping your current job and that income stream open. If you start to make some extra income from your web ideas you could use that money to pay down your debt. I would highly recommend not wiping yourself out but use all of your extra time to study and become more educated in the e-commerce world. You don't have to have perfect credit to start practicing this new way of life but it sure won't hurt. You may need some credit lines once you have your product/idea figured out and you want to begin testing. You sound a lot like me, you want it now. I am giving myself 6 months to learn as much as I can before I leap. And leap I will! Good luck, you are young and have time on your side! Tim recommends so many free websites to start learning from, take them one at a time.

[James Grey]

With your inside knowledge you could write an ebook on:

“How to buy a used or new Motorcycle – and not get ripped off by the dealer”
Inside info from a veteran of the motorcycle sales industry

27 bucks a pop should be the right price – put around 200 into google advertising every month, 1 add in motorcycle shopper and make lots of posts on motorcycle forums

P.S. Finish 4HWW – read a new one every week, free from the library

~James Grey

[TimW]

James, that's great idea...there are plenty of "how to buy a used car" and such out there, but I've not really seen anything for bikes. Though negotiation tactics and dealership antics are likely to be very similar between vehicle and motorcycle dealerships, there are a lot more novice bike riders out there than ever before. KNowing the pitfalls of purchasing new/used, how warranties work in the bike world, etc., would be great information.

Trainwreck, here's a great opportunity for ya!

[kjam43]

Trainwreck,

I would suggest while your working on your muse to get Dave Ramsey's book Financial Peace (revisited).

It will show you how the steps of how to get into a better financial situation while keeping your day job.

The steps are simple, but depending on how fired up intense you are about getting out of debt, will determine how easy it will be for you to make it through this state in your life.

Always,
Kendall
http://www.KendallMatthews.com