Are you one of those who spend the month scraping? Of those who have to do magic to stretch money for everything you have to pay? Let me tell you that you have debt problems. Accepting it is the beginning to deal with it! Today I teach you to analyze how serious the debt problem you have is.
Do you pay only the minimum?
If your answer is yes, you are on your way to over- indebtedness , since by paying only the minimum you do is extend the debt and pay much more interest than the same loan or initial credit . If your answer is “No”, we are doing well. Of course, if you pay more than the minimum or the monthly fixed fee or more than this one.
If your answer is: “Neither the minimum” as you go downhill in your personal finances , soon you will not even have a gum from the cellar.
Do you use your credit card to pay other debts?
It is the worst thing you can be doing, since what you cause is a snowball of debt. In the long run, the debt will be so great that it will cost you to deal with it and continue having a life with all the expenses and comforts that you are used to.
If you have just noticed that you are following this path, it may be better to ask for the help of a financial advisor . If you have not yet fallen into late payments, there is a solution: debt consolidation .
There is no money for everyday bread
Here you are in serious trouble, and you have neglected a lot. The money you earn each month has to reach at least for basic expenses.
If you win well, but it is not enough for you, it is time to change the chip because you are spending on things you do not need. Start by making a personal budget that helps you identify money leaks. This way you will know how to organize yourself better with the payment of your needs and your debts.
You don’t know how much money you owe?
If you don’t know how much you owe, how will you know how much you should allocate each month for your payment? How will you know how long you will be debt free? Go to your desk right now, take out sheet and paper and take account of all your debts and payment schedules. With this information, you can better plan the use of your income and end your financial commitments sooner.
You also know that you are on the tightrope of debts when your recent calls are not from people you esteem, but from the number of call centers from banks or other financial entities that only contact you to charge you. If you have more doubts about your debts, nothing better than knowing your financial report through Infocorp or the SBS.