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  • How To Work Out Your Budget

    Your Budget If you have debts, you’ll need to work out if you’ve got enough money to pay off what you owe. To do this, you will need to work out how much money you’ve got coming into your household and how much you need to spend. This is called your budget. Once you’ve worked out your budget, you’ll be able to see how much you’ve got left over to pay off your debts. Listing Your Income The first thing you need to do to work out your budget is list all the income for your household. Be honest and make sure that the amounts are realistic. The list of your income should include: Wages or salaries for your partner and yourself. Put in your net earnings, that is, after deductions. This should be the amount you regularly receive. If the amounts are different each month, average them over three or Read More

  • 3 Tips To Help You With Your Debt

    This article focuses on 3 very simple tips that are often overlooked, to help you with your debt. Many people are overwhelmed with their debts. There’s no reason for it to be this way and you do not need to suffer with it any longer. Follow these tips:   1. Go With Lower Interest Credit Cards Your monthly payment is a combination of principal and interest charges. Lower interest means more share towards principal and faster elimination of the debt. Few ways to get a lower rate: Apply for lower interest credit cards, and transfer your current balance. Request your bank/provider to lower the interest rate on your existing credit cards. Look for promotion store cards with low or deferred interest charges. 2. Pay Your Credit Card Debt With Loans Or Lines Of Credit. Usually, a loan comes with lower interest charges. It can also put in order your monthly Read More

  • 5 Signs Of Unmanageable Debts

    Recognizing the warning signs of financial difficulty is an important step toward recovery. But living in a denial can prevent you from dealing with the debt that needs attention right now and transform it into a bigger problem. Further signs that indicate that you are carrying unmanageable debts may include: 1. Making Minimum Payments Only This is the most common and overlooked sign. You have credit card and loan owing but you can only manage to come up with the minimum payment. What that means is that you are stuck with the debt for the next 10-15 or even 20 years while paying thousands of dollars in interest charges.   2. Relying On Overdraft You have an overdraft facility on your bank account and you are using it in a way that your account is almost always in negative except for the pay day. In this way you are always Read More