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Insights on money, career and trading

Category Archives: Debt

4 Reasons You Aren’t Making Progress On Paying Off Your Debt

Posted on March 24, 2017 by Daniel at 8:51 pm

Many people find themselves in a pile of debt and feel like they can’t get out of it.  They find themselves spinning their wheels not seeming to improve their credit score.  It is certainly much easier to get yourself into debt than it is to get out of debt. (more…)

3 Tips to Help You Get Out Of Debt Quickly

Posted on January 11, 2017 by Daniel at 6:13 pm

Getting into debt can be easier than you might like to admit. Whether you’re young and finally have the opportunity to use credit or your eyes have just recently been opened to the possibilities of making a purchase and paying for it later, it doesn’t take long for an abuse of credit to turn into a mountain of debt. And while you may be feeling like your debt can never be completely paid off, there are things you can do that will help you get out of debt quicker than you ever imagined. To show you how, here are three tips that can and will help you get out of debt quickly.

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What’s Your Plan to Get out of Debt?

Posted on September 22, 2016 by Daniel at 10:04 pm

One of the major issues affecting all of us in our lives is our relationship with debt. Even if you’re not particularly plagued by a growing debt that deprives you of living the life you really want to live in terms of the plans you have for the future, merely keeping your money in a bank signifies a relationship with debt regardless. The bank uses the money you deposit into your account to first create more money on their balance sheets (fractional reserve banking) and then they loan that created money out and charge interest for it. That’s perhaps a discussion for another day though, otherwise if you do indeed have debt which is hindering the quality of your financial life, you need to have a proper plan to get out of it. (more…)

What Should You Do If You Are Behind On Your Bills

Posted on September 5, 2016 by Daniel at 2:29 pm

If you’re tired of just getting by with your finances, then you will want to give this a read. Being on top of your money and kicking debt to the curb doesn’t need to be difficult. Sometimes it’s tough and hearing from people who are already in debt isn’t ideal for the situation. Nothing will change unless you’re willing on taking action when it comes to your finances. (more…)

4 Resources for Learning About Bankruptcy

Posted on October 18, 2015 by Daniel at 1:45 pm

There are a few reasons you might want to learn about bankruptcy. First, you might just be curious. You could have seen something on the news about a celebrity you follow going bankrupt. Or, you might be in a business situation where you’re not sure you’ll be able to pay what you owe. Or on a personal level, you might have cashed all your chips into credit cards that you’ll never be able to pay back. (more…)

Where to Find Help When Money’s Tight and Debts Are Piling Up

Posted on May 25, 2015 by Daniel at 2:09 am

It may seem like you’re all alone in the world when you’re struggling for money, and your debts are getting bigger, but there are people who can help.

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Look at Your Debt Options

When you’re in debt trouble, your focus should be on clearing as much of your debt as possible, as quickly as possible. Of course, this is much easier said than done. But there are options out there for you to consider. You could look into the possibility of taking a lower interest rate or switching credit if the opportunity is there.

If you don’t have a couple of large debts but lots of smaller ones, it might be worth considering debt consolidation. This is when you combine all your debts into one manageable payment. You can go to debtconsolidationusa.com to find out more about what the process would involve for you.

Get Professional Advice

Sometimes, all you need is a bit of sound advice to put you back on the right tracks. Being in debt and short of money is never easy, anyone who has been through it knows how stressful it can get. Having someone to tell you what your options are and what you should do going forward can be invaluable.

There are two main options to you when looking for professional and independent financial advice. The first is to find a fee-paying debt management company who will be able to look after your debt and financial obligations. But for most people the best option will be to take free advice from a non-profit company.

Talk to Family

Most of us don’t like to discuss our money problems with the people who are close to us. It’s usually a matter of pride, we don’t like to admit when things are going badly for it. But talking to family when you have a problem, whether it’s financial or otherwise, can be a great relief and a help.

You might be surprised by how willing to help and how understanding your family are when you tell them about your money problems. They might be able to ease some of your financial problems. But even if they can’t afford to give you money, having them to support is vital too.

Help Yourself Too

The final person who can help you out is yourself! Take a thorough look at yourself and your financial situation and see if there’s anywhere you can save money. Maybe you’re spending more than you need to on nights out and leisure activities. These are things that should be cut down on when you’re struggling for money.

You should set strict limitations on your spending and stick to the essentials. You can’t afford for the situation to get worse, so think about what you could give up and do your best to stick to your plan. If you can’t do the work to help yourself, why would anyone else want to help you?

If you combine the help that can be provided to you by all these people and organizations, your situation should start to improve. And you’ll be feeling a lot better about your finances.

 

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