For now, there’s no more appropriate rhetoric than the rhetoric that “cows don’t lose, buffalo escaping”, because it’s an economic situation that’s not good enough. There’s still a lot of big storms coming in. The hardest thing is to be a debtor like us who, even if they don’t have the money, have debts to pay with interest every month. In order to solve this problem, we should have to re-plan our finances. In 2013, the Government released a new financial statement that showed the company’s debt surged to its lowest level in more than a year. In order to come back to success again.
1. Set a budget for paying up debts.
This is even if it sounds difficult for people who are in financial trouble to be able to pay off their debts. However, we’ll have to spend some money anyway, and where can we get this money? In addition to the revenue that may need to be added, Cutting unnecessary costs is equally important. Reducing costs, intercepting outflows of money in your pocket, is no different than getting more money. Let’s make a list of which costs are more than necessary and can be eliminated without causing any difficulty in living, and your financial position will begin to recover.
2. Pay the most expensive debt first, and don’t pay the minimum.
The rule of debt repayment is that you should first close the highest-paid debt by looking at interest rates and repayment periods, such as credit card debt, because this type of short-term debt has very high financial costs, and if you pay only the minimum amount each month, it is difficult for you to get rid of this lump sum of money. Not using it at all may be a better choice. Managing debt is a wise choice, but a smarter choice might be not to create debt.
3. If there is a special income Let’s close the bad debt.
If you have extras, extras, extras, or get a bonus, you can use the bonus. Instead of spending those money as you like, you’ll be able to pay off your debt to close the debt faster. In addition to this, it will help you close your debt more quickly, and also to help you spend a lot of money on extravagant things. Of course, giving yourself a little reward is a achievable thing, as long as you’re still sticking to your goal of getting rid of debt from your life and being free.
4. Negotiate with creditors, find a way to benefit both sides.
Although most creditors already request collateral for a loan from a borrower, they will not be required to provide the loan. In case the debtor is unable to repay the debt stipulated in accordance with the conditions, however, what the creditor sought in fact is the profit from the loan or interest, not the overcharging until the debtor is exhausted, falling away. One day, creditors are likely to fall. No one wants to sue each other until they’re on trial, and talking about a solution between the two parties is achievable. Even if you’re still in debt, it can extend the repayment period, and even if it’s rejected, you don’t lose anything.
5. Sell some unnecessary items.
Believe it or not, almost every home has unnecessary supplies that can be disposed of, and those are often worth it, when you’re in need. This will help you with more liquidity. In the days ahead, if the situation starts to improve, you will find new items, it is not too late. Keep in mind that the longer the debt is left, the more problematic it becomes, so it should not be left chronic. This way, in addition to helping with finances, it also makes housing a relief. It’s a life-saving deal.
Because most people’s financial problems are caused by inefficient spending habits and lack of good planning, even though we use different ways to gradually pay off their existing debts. If we don’t change our habits and don’t create financial discipline, it’s likely that we’ll inflict an unnecessary new debt if there’s a chance. Without debt is still a good fortune, and if it is really necessary to create debt, make sure that once you borrow, you will be able to manage it in the future. Life doesn’t fall apart because of that debt.