You can not benefit financiall and debt piling up? Maybe you make a mistake, some of them unconscious. These errors are designed to help you figure out where you can go wrong and how fast on the rails. You can be free of debt.
1. Living beyond your means
This is the real cause of stress and worry. If you have more than they earn and spend, spend the money to you? This is the card or the bank. The cost of money in interest.
The solution - an appointment with you to only spend within your income. Perhaps you could increase your income (or cash) for sale with the most skilled positions, some of your unused goods or property. The second car is really a necessity? What is your hobby pay for convenient ways to develop yourself?
Why not find a way to reduce costs? How much you save per year if you're not a coffee shop that takes place every day? Why not buy your lunch to work every day instead? Commitments should not buy.
2. Less than a month to pay the full balance of credit card
Get the debt under control and your life much easier. If you're like many others, and only pay the minimum balance each month, interest rates for purchases are so expensive.
The solution - finding ways to make more money is reserved for credit cards. It will take time to achieve this goal. However, you may pay if you start to do with you forever. This situation does not happen overnight and does not solve the problem. But thanks to his dedication and commitment to succeed.
3. Not really knowing your financial situation
Before saving targets and strategies you need to know your financial situation today. The best, proven and tested by the method is in the development of their budget. It is not hard to do. Please do not give up. Follow these simple steps:
The way out -
a) Find your last credit card statements. List of all balances outstanding.
b) There are other debt not paid (other than home or car), such materials.
C) a list of your (or family) monthly income. Only the amounts at home. Covers all types of income.
d) the work of your monthly expenses. List, where all the money goes. Do not leave anything.
e) less total monthly expenses total monthly income and control of the response.
This gives you an idea that you live within your means or on money borrowed.
4. Always add to your debt
If the error in this situation is extremely important to understand not to worry about the situation and then worse.
The solution - cut the credit cards, only an emergency. Do not buy impulsively. Imagine two or three times before you "Should I buy that?" Before sending your hard earned money. Do not buy anything on the street. never commit to full pay for everything. Put selling or negotiating a lower price.
5. Spending all your income
This may be OK for all the money they earn, but there are also risks of this strategy. How will you pay for supplies? What major repairs on the machine. What is the replacement of the main unit? If you pay on credit? bad idea! How you set for a major attack the next car?
The way out - Have you prepared your budget, you will see clearly what is necessary for an income aside for emergencies and other needs repairs.
6. Because without you on your future
Except for its future security and financial planning, you can not really happy. There are always concerns lurking in my head how to survive a financial crisis if we are to have any savings. It can be very rewarding to see how quickly your savings will multiply over time with only a small investment each payday.
The way out - an inventory of your life and tomorrow will not be reached care of themselves. She needs your attention. Keep some money aside to save for retirement, the cost of college kids, emergencies, vacations and major purchases.
Do not spend six errors and you're on your way to financial freedom ....
Aug 31, 2010
