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| Happy life without debt. Image: pfci.ca |
Life is
hard, modern man cannot be free from debt or difficult to live without
debt, for example to fulfill the daily needs, business capital, or to satisfy
our lifestyle. Has a debt can be stressful if you are not able to pay it off.
Frugality
in life is usually difficult to run. Unfortunately with the scrimp, the only
solution that you can do if your financial situation is not healthy because of
too much debt. Are there other ways that you can do?
However,
paying off debt quickly requires some good planning and discipline. Almost
certainly most people want to live a happy and free from debt. As reported by
Ehow.com, here are the steps you can do to a little out of debt:
Find out how.
1. Make sure the amount of your debt
today.
You have
to gathers all the bills first, such as credit card bills, loans and other.
Then, add up the huge debts that you have a whole to get a clear picture. After
that, write down the minimum payment, due date, and interest rates for each
debt. If necessary, contact your creditors to negotiate a lower interest rate
because it can reduce your debt burden.
Special note:
Minimize
credit card ownership, cut your credit cards so you are not tempted to shop for
luxury goods or withdraw cash with credit cards because the interest rates are
very high.
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| Cut your credit card now. Image: bemorewithless.com |
2. Make repayment plan
You can
make minimum payments to all your creditors. In addition, in order to make
payments quickly, you can look for another job as an extra income. With an additional
source of income, of course, the debt that you have willed quickly paid off. Look
for information from friends , newspapers , or the Internet so that you can get
a part time job , you can even do business online , you can even do business on
the Internet with no capital .
3. Reviewing income and expenses
You can
write and re-examine the revenue and expenses carefully to be able to shut down
and pay all debts. Moreover, also look for opportunities to increase revenue,
such as converting a hobby into a money -generating activities or open a small business.
4. All earnings are paid to pay off
debt
If you
want to quickly pay off the debt, then you should be able to use the income to
pay the debt. Wear your main income to pay off debts and living expenses
subsequently use the money from the business or extra income.
5. Minimize your debt.
If you 'vet
done the four steps above, then the long - held debt would be paid off over time.
That way, your life will feel happier because of debt.
Has a debt
can actually make yourself become stressed if unable to pay. In order not to
have a life time of debt, you need to manage your money well. Managing money
well of course it will also make you a success in the future.
Additional Info: Perform financial planning for your future.
If you have been able to reduce the debt, then it is time you start thinking to
buy an insurance policy such as health insurance and retirement savings. You
are not young forever; you have to have an insurance policy to protect you when
you are sick, and so you do not bother with the cost of hospital care.
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| Enjoy your retirement in Bali. Image: gordonhester.com |
Do not
expect much less from government benefits there are some members of Congress
who do not agree with the health program (Obama care) created by Barack Obama. Now you know,
that the political elite (tea party group) in respectable institutions in the
congress hall that is not concerned with the welfare of society. If you are
outside the U.S. citizen, then you also should not be lulled by your state
health program, because you have to keep buying an insurance policy from the
insurance company. It is important that you have a supplemental health
insurance program.
If you
already have an insurance policy and retirement savings, then you can enjoy
life more happy, even you can enjoy a vacation to paradise wherever you want,
for example, enjoy the natural beauty and unique culture of Bali. You can smile
without the burden of debt when you gathered with family and grandchildren in
the future.
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