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1. Stop Spending

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Step 1: 

Advanced Guide to Getting out of Bad Debt

Instead, take steps to improve your emotional maturity and intelligence. 

There are many great authors and teachers that will get into the nitty-gritty 

details and help you. In the Rich Dad sphere of influence, we have Blair 

Singer and his book Little Voice Mastery. 

Right now though, take the first step to improve your emotional 

maturity and take the “instant” out of “instant gratification.” 

When you’re looking at purchasing something, spending time watching 

TV or perusing the Internet, ask yourself, “How is this helping me reach 

my next goal?” 

Be honest.

And, don’t pat yourself on the back and lie to yourself that you deserve 

a reward because you spent 20 minutes “researching” your business or 

investment. Again, be honest. It’s great to celebrate all wins and give yourself a 

reward. Just be honest on what a “win” is and if it truly merits a reward.

I’ve been there and lied to myself plenty of times. It wasn’t until I 

started having the emotional maturity to be honest with myself, and 

making sure my actions were in line with my goals, before I started making 

actual progress towards those goals. 

I would say that when it comes to money, emotional intelligence is the 

most important intelligence of all. It's more important than academic or 

professional intelligence. Develop your emotional intelligence so that you 

have the fortitude to stop spending money on things that do not help you 

get out of bad debt. 

If you don’t, your tomorrow will be just like your today–or worse.

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It has probably never happened before, but I am telling you to save 

money. Normally, I tell you savers are losers. Before I explain why I’m 

suggesting that you save money, I am going to explain the danger of saving 

money.