From 50k debts to six figures - millionaire shares tips on getting out of debt

Samir SharmaSep 10, 2021Business

As many Britons know, tackling debt is not always easy. Mr Moore knew that the only way he was going to turn his finances around was to change his lifestyle and cut down on his spending.

Whilst discussing his journey with exclusively with Express.co.uk, Mr Moore mentioned his golden rules for dealing with money.

He wanted to give our readers some practical money saving tips that can help people on their journeys to clearing their debt.

Mr Moore mentioned the 30-day rule. The 30-day rule on any purchases could help Britons stay on track to reach their goals and stay disciplined.

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He said: “If you want to buy anything new, give yourself a 30-day rule. Do not buy it and take 30 days to decide if you still want it.

“If you don’t, great. If you do, find it cheapest on a comparison website or buy it second hand. You won’t keep more money until you learn to manage what you already have. Extreme emotions, good and bad can erode wealth. It’s important that money is managed logically and not emotionally”.

Mr Moore explained the need for Britons to not spend more than they earn.

He continued: “People should save a target percent of their income.

“Also, food shop one supermarket rung down. This means that if you shop at Waitrose, try Sainsbury’s. Or try Aldi.

“Sainsbury’s is 15 percent more than Aldi, and Aldi 15 percent more than Tesco, for groceries, according to the Daily Record.

“Even on a low or average weekly food shop, that could be £15 a week or more.”

With a lot of hard work, Mr Moore was able to clear his debt and earn more money. He got a job within a property sourcing agency on minimum wage, but he was able to secure commission when he made a sale. He was able to perfect his craft by learning to public speak and started selling from the stage; helping others buy property, and eventually build up capital.

Eventually Mr Moore was able to set up his own company selling properties to investors and then training people to invest themselves. The organisation Progressive Property is now a multi-million company, employing over 70 staff members.

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