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What to do when you are in debt
"1) Take it if you should. When we take on debt, we tend to take it easy, but we forget to review ou...
"1) Take it if you should.
When we take on debt, we tend to take it easy, but we forget to review ourselves. In the case of a real emergency, there is no problem in taking it because you can't afford it. Therefore, think carefully before taking a loan. Take it from the situation where you have to take it. If it is a convenient situation, it is best not to take it.
2) Make a list.
When it comes to taking out a loan, check yourself every time you take out a loan. "Do I really need to use this money?" "Do I have to take it because..." "Can it be okay without taking it?" You should take it after reviewing, and is it balanced with your income and debt? What I want to say is whether the income is low and the debt is high or the income is low and the interest payments are high. Then you will not be sure to pay the principal. If this is the case, it is a situation where you should not take more debt. This situation can be said to be a worrying situation. That's why you keep a list of all your debts with interest and principal.
3) income; Weigh the outgoings and the amount to be paid.
Subtract the expenses from your income and weigh whether the remaining amount is enough to pay off your debt. If it's not enough, you should consider taking out more credit. You should try to reduce your expenses as much as possible and pay off the debt.
4) Increase income.
Another convenient way is to try to add another income from your regular income so that you don't take on more debt. Only with an increase in income will you be able to pay off the interest and principal of your accrued debt.
5) Pay off interest and principal.
If you can't pay off the debt in full, another option is to pay off the interest and principal in installments. No matter how small the amount of capital, Pay off the principal while paying as much interest as possible. From that, monthly interest, The amount of capital will be reduced. If you are patient and try to pay correctly, it will take time, but you will be able to pay off your debts.
6) Don't take more high-interest loans.
Usually, the big mistake of most people who are in debt is that when they can't pay the current debt, no matter how high the interest is....
If you think that you will have to borrow more money from another new creditor to pay off the interest, then your life is only going to sink into the cycle of debt.
So don't take out new debt to pay off existing debt. If you're trying to double your income, or cut back on spending, I encourage you to try to pay off your debt with only the excess of your money."
When we take on debt, we tend to take it easy, but we forget to review ourselves. In the case of a real emergency, there is no problem in taking it because you can't afford it. Therefore, think carefully before taking a loan. Take it from the situation where you have to take it. If it is a convenient situation, it is best not to take it.
2) Make a list.
When it comes to taking out a loan, check yourself every time you take out a loan. "Do I really need to use this money?" "Do I have to take it because..." "Can it be okay without taking it?" You should take it after reviewing, and is it balanced with your income and debt? What I want to say is whether the income is low and the debt is high or the income is low and the interest payments are high. Then you will not be sure to pay the principal. If this is the case, it is a situation where you should not take more debt. This situation can be said to be a worrying situation. That's why you keep a list of all your debts with interest and principal.
3) income; Weigh the outgoings and the amount to be paid.
Subtract the expenses from your income and weigh whether the remaining amount is enough to pay off your debt. If it's not enough, you should consider taking out more credit. You should try to reduce your expenses as much as possible and pay off the debt.
4) Increase income.
Another convenient way is to try to add another income from your regular income so that you don't take on more debt. Only with an increase in income will you be able to pay off the interest and principal of your accrued debt.
5) Pay off interest and principal.
If you can't pay off the debt in full, another option is to pay off the interest and principal in installments. No matter how small the amount of capital, Pay off the principal while paying as much interest as possible. From that, monthly interest, The amount of capital will be reduced. If you are patient and try to pay correctly, it will take time, but you will be able to pay off your debts.
6) Don't take more high-interest loans.
Usually, the big mistake of most people who are in debt is that when they can't pay the current debt, no matter how high the interest is....
If you think that you will have to borrow more money from another new creditor to pay off the interest, then your life is only going to sink into the cycle of debt.
So don't take out new debt to pay off existing debt. If you're trying to double your income, or cut back on spending, I encourage you to try to pay off your debt with only the excess of your money."
