In recent times, the number of people who have economic debts has been increasing considerably. Reason why, it is usual for 1 or more members of a family to have some type of debt, which they have acquired to have a better quality of life. This shows that people do not know how to properly manage money, which can be said that today there is a lack of “financial intelligence.”
Therefore, for those who are indebted, it is difficult to get a loan due to their unpaid credit life, or to default on payment of debts. For this reason, it is important to know the financial companies that provide loans for reporters, since they offer benefits such as obtaining funds to pay off those debts, or investing in basic needs.
Being aware that debts are an affliction in people’s lives, and an impediment for them to progress and improve their quality of life, then they will be given essential advice so that they can properly manage money, to possess the financial intelligence necessary, to pay the debts little by little, and thus, to be able to access a loan for reported.
Tips for indebted people
Do not increase your debt
If you have a credit card to the limit, gradually begin to pay off the debt, paying it. Start paying those credit cards, do not spend more on unnecessary things that can deepen your debt. It is better to leave a single card to buy only emergency things in specific cases; and in this way you can pay off your debt in a short time, until you manage your expenses completely and correctly.
Check your expenses
Writing down expenses is a useful tool to properly manage money, since proper planning will allow you to optimally use money, and avoid spending on unnecessary things. Therefore, every month, or every time you receive your salary, write the priorities to invest.
Classify your expenses
Classifying the expenses as “urgent,“ necessary ”and“ desirable ”, will help to have priorities in their investment.
-The urgent things are food, medicines, rent payment and public services, among others.
-The necessary things are those that are needed, but do not have an urgent implication, as well as buying new clothes for work.
-The desirable things are those that are not needed to improve the quality of life, such as cable television, so they can be replaced by others with higher priority.
When you do this, you will have a clearer idea of how to properly invest the money, to identify in advance what things can be spent and what not.
Prepare a budget based on the inscription of your expenses: It is important to write down the amount spent the previous month, in the categories set out above, since this will help you to budget the expenses for the following month. Do not forget to write down any investment made, however minimal it may have been.
Try to use only cash: Assign a certain amount for each category per month, for example, if you need to market for a specific value, set aside only that money for that purpose, and only spend that figure. That will help you not to spend extra money.
Calculate the amount that will be used to pay the debt: Once you have designed your new budget, you can see in which areas you could cut expenses, as well as in which you will need to invest more. In addition, it will be possible to allocate a specific amount of money to be used to gradually pay the debt (Do not forget to write it down too).
Estimate the correct amount (To whom you owe): In general, any debt is overwhelming, since you do not have a clear understanding of how much you are in debt, and how long you can pay it. Therefore, collect your invoices and prepare a list of the debts you have, as well as the name of the creditor, and all the important data, the monthly payment, your interest rate. This with the purpose of having an idea of how to pay these, through proper planning.
Start paying your debt: This is the most important step, since after proper planning of expenses, it will be possible to invest in paying off such annoying debt. The expenses you cut in unnecessary payments, here will be used to reimburse them. Therefore, prioritize the most important and urgent debts to pay.
Repeat the previous steps constantly: The planning process becomes easier when you are persistent in it. Always remember to estimate the expenses, investments and debts you have. Since this will help you to improve your budget over time, and thus invest correctly every time you need it. Be sure to continue paying off your debt, since that is the priority.
Never give up: You probably won’t pay off your debt in a single month. However, learning to properly manage your money will help you have more peace of mind in your life, so you can invest more time and effort in other important activities.
Therefore, do not hesitate to contact Ricky Werp, to know the conditions for loans for reporters, and in this way, you can start paying off your debts and correctly manage the money and possess that “financial intelligence” that is so necessary in these times.