Does the money run out before the end comes? The problem may be in the way you are. deals with your debts. To balance your budget and not risk being in the red? It is important to start organizing your debts, paying off those who charge higher interest first and negotiating with creditors to resolve the situation. See how to organize your doubts and get out of the red!
Know your current financial situation
How to organize debts? The first step is to release the budget. seek to understand which? your real financial situation. With sincerity, put on paper everything you earn per month, what you spend and, mainly, what you owe. When listing debts, be specific: write the current amount of the debt (considering interest, fine and the like), creditor? how long are you owing. With this information in hand,? important to assess your real possibility of payment. There is no point in closing a deal with the creditor if your monthly income does not make it possible to pay a certain installment amount.
Start with the most expensive debts
After organizing the finances and knowing which one? its real financial possibility to settle debts,? time to go out to negotiate with creditors. The ideal? always start with the most expensive debts, that is, those that charge the highest interest. Generally, the debits on the revolving credit card and the overdraft are usually the ones that must be paid off first. Depending on the amount of the debt, it may be a good idea to consider selling a good, such as a car, to pay the debt and get your finances back in balance.
Keep your word
Another step to organize the debts: closed the negotiation with the creditors,? It is essential to keep your word and, if you have paid in installments, religiously pay the installments every month so you don’t have to deal with fines. To do this, keep spending under control? an essential step. Create a way to analyze your expenses and see where? it is possible to cut expenses and save. Signatures that you? you don’t even remember that you have a gym that you don’t go to and excessive expenses with clothes and cosmetics are some points where you can cut expenses to be able to pay off debts.
Change consumption habits to organize your debts
Organizing debts and keeping your budget up-to-date also changes some consumption habits. To be able to pay what you owe without being in the red? Is it important to be aware of how you are doing? consumes. Among the attitudes you can adopt in order to organize your debts are avoiding installments and impulse purchases, reducing leisure expenses and working to reduce household bills, such as water and electricity, while consciously consuming. Get out of debt and return to a balanced financial life? possible. For this,? It is important to face the situation, invest in changing consumption habits and make spending control part of your routine. Do you still have any doubts about how to organize your doubts? Your finances will thank you. Leave it in the comments.