We live in a time when everything can be obtained on credit. Banks are bombing us with offers of credit cards and cash loans , shops urging us to pay in installments at every turn. Deluded by the multitude of offers, we often fall into the grips of excessive consumption. We spend too much and do it too often . The worst thing, however, is that we tend to spend money that we don’t have. There are more and more situations that we don’t see a way out of. Installment loan for RTV equipment, credit card debt, consumer loan installments . All this is beginning to overwhelm us. Not only do we feel uncomfortable in this situation, but also our savings and financial security suffer from it. You can get rid of debts once and for all and stabilize your financial situation. It is enough to be consistent.
So how do you get out of the spiral of payday loans or bank loans?
The first thing you absolutely have to do is stop taking more loans . It seems simple, but in practice, things like to get complicated, and actually we ourselves unnecessarily complicate them. Remember that every time you pay for purchases with a credit card, you actually take out another loan and your debt, instead of decreasing, increases significantly, because the amount spent on purchases also gets interest over time. The only way is to hide the credit card deeply. Do not carry it with you when shopping. After paying the bills and installments, you have enough for life that at the end of the month you can’t imagine your normal existence without using a credit card? There is only one way out. Lower your standards for a moment and start living a little more modestly, right away.
It seems impossible to you?
Calmly analyze your daily expenses and you will find that you can easily do it. Until you get rid of your debt , give up going to the cinema or theater and eating out. Do not buy coffee on the way to work and do not eat sweets. After a close look at what you spend money on every day, you’ll certainly discover a lot of unnecessary expenses. Without regret, give up these few things that you don’t need to live. These are just habits that you can change. The results you will achieve are worth sacrificing. Believe me.
Secondly, do not borrow more to pay off existing debts . This is not worth doing. In this way you only make your situation worse. Consolidation loans are associated with a significant extension of debt repayment time , and thus an increase in the amount of interest. It just doesn’t pay you back! Decide that you will be the first to get rid of your smallest debts. They are the easiest and quickest to pay back. Getting rid of each of them one by one will be a great personal victory for you. Everyone, even a small, success on the path to the goal of getting rid of debts altogether, will give birth to a lot of motivation and faith in your mind that it will succeed.
Pay off your first loan
You can take the next step towards freedom from debt . Start increasing the repayment of your next debt. For example, if you were able to repay a loan with an installment of $ 100 a month, then under no circumstances should you spend that money under any circumstances. Increase the monthly repayment of your next debt by $ 100. Just pay higher installments. After all, this amount will not change the economic situation in which you live every day, because it has been going on for some time. Use the amount corresponding to the installment of the already repaid loan , to get rid of the next debt much faster. After each subsequent closing of the loan, follow the same pattern. You will be surprised how much it will speed up the repayment of your obligations. Be consistent! Don’t succumb to temptation and you’ll get out of debt, much faster than you think.
These simple, proven methods have already helped many people. You will also succeed!
Once you are free of debt, start slowly building your savings, using a similar scheme, and you will create a so-called financial pillow. It will give you a sense of security and make you never have to borrow money again .