Do you have too much
debt on your credit cards? Are you worried about your debt and want to reduce
it? Then take comfort from the fact that you are not alone. In fact there are
lots of people in the same boat as you. In order to get ahead of the game, you
need to increase your personal finance knowledge and then apply your new found
expertise. Do not hide your head in the sand. The fact you are actually reading
this is a good start. It means you are more likely to start getting out of the
hole you have created for yourself.
So what do you do? How
do you actually start getting out of your dilemma?
If you continue
searching online you will find loads of ways to do this. There are actually
lots of solutions. Your problem now is choosing the correct solution for
yourself and applying it.
Try and keep your
solution as simple as possible. The simpler it is the more likely you totally
understand it and the more likely you will apply your solution with discipline.
I suggest you study
and apply the following basic steps, at least to start.
1 – Prepare a budget
for yourself or for your family. This is easily said and most people will
advise you to start with your budget, but I do not. There is one thing you
should do first.
2 – The very first
thing you should do is find out exactly where you are now. In other words, take
stock of your present situation. Write it down or use a spreadsheet, whatever
works for you. But get all the information you can from your credit cards. You
will need how much you owe; when your payment is due; …
The most beneficial
strategy to save dollars is always to, this really is what you hear very
generally, write a shopping list. Do not just stroll around the mall with your
wallet filled with money and credit cards and acquire what your heart tells you
to. Obtain what you brain thinks is required!
Subsequent, get a
saving account. Bank inside your allowance or paycheck straight into the bank
and withdraw only a certain amount each month. Remind yourself to only invest
that level of revenue. Tell yourself all you’ve got is only that amount of
funds! Ensure you apply for the bank card too so you are able to keep track on
the level of funds you saved. There is going to be an enormous feeling of
satisfaction seeing your income doubled each month.
promotions are extremely tempting particularly when you’ll find no cost film
tickets, no cost bags, or even cutleries! Even so, the extra cards you’ve got
inside your wallet, the much more you are going to often invest. This will
likely lead to an excess in spending without even noticing till the end of the
month when all of your bills arrive. Hence, preserve a card within your wallet
at a time only or the most beneficial way is usually to just apply for 1 bank
Bring your meals to
work/school! This actually operates! Spending possibly 5-10 bucks every day for
any meal can sum as much as 100-200 a month. You are able to save about 100
bucks a month by bringing your own food to perform for a minimum of three days
per week. The one hundred bucks extra can buy you per week of groceries.
Last but not least
should be to reward your self! Set a target in …