Look around, what do you see? I see a lot of people struggling with their finances. Did you know the fact that an average family’s income is lower than it was a decade ago? How is that to you? Doesn’t it seem at least a little unfair? It surely does to me. Unfortunately none of us have heard that prices got also lower. So how do people manage to survive these days? Most of them are really bad at money management. And you are absolutely right, it leads them to having a debt. Some even have up 10 debts same time. Is there anything possible to do with your debt? Go on reading and you may find some good solutions for you:
1. First of all, try to keep a track of your debts. Put everything on list to have a better visibility on what you are at right now.
2. Be realistic about your monthly budget. Always know how much you can afford to spend during next 30 days. This will help you to have a better understanding of your everyday expenses.
3. Your credit payments. Do not stick with minimum. I know that they say that it is better to make small payments then not making it all. This is true of course. But your goal is to forget your debt as a nightmare, that is why consider making even more cuts in your budget in order to increase your payments.
4. Limit yourself in spending. Pay with cash. You cannot pay with cash= You cannot buy this thing.
5. Have only 1 credit card. In case you have more, lock them somewhere or at least use the one that has the lowest interest rate.
6. Work on emergency funds. Learn to prioritize emergency cases.
7. This is the part where you will have to say good bye to your outdoors activities for a while. Eat in, invite your friends to watch movies at home, spend more time with your family. Do not imprison yourself, just try to be more rational with your entertainment. Do not turn to fast cash online only because all of your close friends are going to some interesting trip and you also feel like can’t miss this event. It’s not worth it.
8. Never give up saving. No matter how hard it is, keep on saving. Set a goal, have a rough plan and do not stop.
There are plenty of ways to help you either to avoid having a debt or maybe guide you through difficult financial times. It can get really tough sometimes; just remember that no one but you can help yourself. Be wise with your money and believe me, life will reward you!
Tags: budgeting, cash, Debt Consolidation, Debts, economy, financial planning, money, personal finance, Problems
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11:48 am • 
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