Debt Story

Over the last few years (6 to be more specific) all I earned I invested back into two startup projects. I even borrowed money from friends and family to support whatever was needed to keep the projects alive. My approach was - it will work, and when it does I will repay everyone… no need to get distracted, divert money into savings and repayments etc etc. Big mistake. Today that resulted in a minus of 58k Euro, that I challenged myself to return within 18 months. I called it #TaskD - a small project on finance management with an . intention to document key learnings.


2019 Approach

1. Categories and assigned status. Every debt item has a code name and status updates.

2. Progress actions. Every debt item has assigned micro actions, which means slicing the debt amount into small payments. Every payments is tracked and marked with date, personal note and a screenshot of the bank transfer.

3. Journal. Take notes dedicated to #TaskD and describe the process of reaching financial freedom, one step at a time. It’s important to mention that returning the money in 12 months it’s not simply a question of saving parts of the salary and making monthly transfers, instead it will require a change of daily routine, project choices and increase in value provided to the customers, rather quickly. That can be achieved through intense learning and development, disciplined sense of delivery and quality relationships.


Mantra 1>0

One small action (transfer) at a time. In this case perfection is the enemy of progress.