ARTICLE How I went from being debt ridden to debt free in less than two years. Written by: Gary Wilde © Copyright Gary Wilde 2010 - All rights reserved 30 August 2010 I enjoyed a very successful career as a turnaround specialist and behavioural adaptation strategist and until 2005 I was ‘living the life’; with a huge house on a game farm, driving a sexy sports car and surrounded by all the modern day luxuries of life. I felt secure and optimistic about my future... but all this changed in a moment, when a business partner reneged on an agreement that was worth a small fortune. It was a possibility I had never considered. Within a space of a few months, everything I owned (or believed I owned), was gone.... the house, car, TV, couch, fridge etc... EVERYTHING WAS GONE! For someone that had spent the last 15 years helping businesses and individuals turn the tides and achieve great success, I never imagined that I would find myself in the position where I needed to turn my own life and business around. With nothing more than a small wardrobe of clothes and a credit report sporting numerous defaults and a hefty judgment from the bank, my sister graciously invited me into her home. Here I was afforded the time to take stock of my life and figure out how I was going to get out of this mess. Having dealt with companies and individuals in distress in the past, I realised it was time to take some of my own advice. It was over the two years that followed, that I learnt some of the greatest lessons about life, human behaviour, relationships, business, wealth creation and the secrets to success. During this time, I paid off over R1 million in debt, cleared my judgment and credit defaults and put myself squarely on the path to creating wealth... this is how I did it:
Rather than succumb to the feelings of guilt, disappointment, desperation, anger and resentment that threatened to consume me, I chose to focus on what I could be grateful for. This placed me in a resourceful and empowered state and enabled me to acknowledge all the beautiful elements of my life that I had been taking for granted.
Knowing that all outcomes have a behavioural cause, I had to face the fact that the situation I was in was a direct result of my own choices and behaviour. In order to change the outcome and never repeat it, I knew I had to change my own thinking and behaviour. I spent many hours retracing my steps and identifying the disempowering and destructive patterns of thinking and behaviour that led to financial disaster... and vowed never to engage in such behaviour again.
The goals we set and wholeheartedly commit to, determine the demand we place on our mental resources and faculties to achieve the desired outcome. If we aim high, we think and behave very differently to the way we would if we aimed low. I committed to paying all my debts off and restoring my credit worthiness, within two years.
Knowing how much money I needed to make in order to achieve my goals, I had to think innovatively about how I was going to do that. I went back to the drawing board many times before I finally found a strategy that would deliver the goods. With a clear strategy in place, I was able to break it down into a well defined and achievable action plan.
Every outcome in our lives is brought about through a sequence of events. A plan helps determine that sequence, but a schedule of activities ensures that you execute them. Not one day went by without me taking at least one decisive step forward in pursuit of my goals.
Maintaining open, transparent and consistent communications with my creditors was probably the most valuable thing I did during this period. I discussed my situation honestly with them, taking full responsibility i.e. No excuses! I explained my plan and reinforced my commitment to pay off all my debts... even the debts that had been written off! I contacted them regularly to inform them of progress being made. Because of this, my creditors went beyond the call of duty to accommodate and support me.
We often underestimate the generosity of the human spirit. I was blown away by how many people were willing to assist me in achieving my goals, simply because I sincerely asked for their help. Even the bank made a discretionary decision to return my car to me, enabling me to execute my plan more effectively and honour my commitment to settle my debts even sooner.
I discovered that my previously disempowering behaviours towards money were not unique to me, but in fact prolific amongst the middle class. It is because of these behaviours that millions of people find themselves in financial distress. This led me to identify and adopt the thinking and behavioural patterns of the wealthy, which has fundamentally altered the course of my life. My journey from being debt ridden to debt free was not without its challenges and hurdles, but through focus and determination I overcame each of them and achieved every one of my goals. To this day, I only buy what I can afford to pay cash for and only borrow money to purchase assets that make more money. I’ve learnt to delay gratification and make financial decisions with the future in mind. As a result, I have seen my net worth grow exponentially and soon my passive income shall exceed my monthly expenses. I’ve successfully made the transition from being middle class to being a Wealth-Apprentice™, which means that I’ve adopted constructive habits that empower me to make money and consistently create wealth. Through this, the attainment of wealth becomes inevitable! Finally and above all, I have learnt to appreciate everything I have, rather than long for the things I don’t have yet. Because of this, I live a life of abundance and gratitude every day and feel like the wealthiest man alive. This experience and the many things I learnt along the way, has proved to me that anyone can be wealthy, if they truly want to be! As a result, it’s become my life’s passion to show them how. To your Wilde Success! Gary Wilde 
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