Credit card debt and personal loans have the highest interest rates on the market. To get rid of the “snowball” effect when the debt balance keeps growing, in this article we show you the best option for easy breathing again. Check out! See gracemccook.org of critique.
With the end of the year coming, everyone wants to put their lives in order to receive the wonderful things that the new year can bring. But in practice, it’s not that easy, right. Here’s the question that doesn’t want to shut up: How to get out of red with little money?
Even those who have a steady job, guaranteed pay at the end of the month and still have the thirteenth salary, usually already have a right destination for this money, whether to pay some late bills or buy family gifts.
But what usually happens is that instead of getting organized to catch up and start the year off right , most get into a snowball of beads. But calm down! We know how hard it is to stabilize financial life and this article has come to help you find the best solution to expensive debt and what to do to overcome the financial crisis and finally start the year in blue!
To do this, we will ask you questions about what to do when you have a lot of debt, how to reduce credit card debt, how to pay off banks, what to do to get your financial health back, and more. Check it out below:
How Debts Can Affect Your Daily Life
In 2016, the rate of people with debt who had symptoms of depression or anxiety reached 80%. The reflection of the debts can appear in the daily life also with small conflicts in the social life and quarrels in the family, generated by the fall in the standard of living . Or worse, with other diseases like ulcers or heart problems.
All this is extremely understandable, because only those who have been or are in debt know the shiver that gives when the phone rings and may be some collector, or the tension when buying something on the card and the headache to see the stack of boletus piling up and the light at the end of the tunnel not showing.
The solution to all this is one: take it easy, get your pencil and paper, and figure out how to get your debt settled.
What to do when you have a lot of debt?
Well, as we have said, the first step for those who want to pay back arrears is to get organized and put down everything they owe and who they owe. Knowing the total amount and interest that each lender puts on top of the amount owed, it is easier to decide where to start.
So you find out what your most expensive and cheapest debts are . Expensive debts are the ones with the highest interest rates and, consequently, those that will grow faster and deserve priority at the time of payment. Cheaper debts take longer to grow, and if you have to choose between one and the other to pay, this one has less weight and can wait a little longer.
The second step is to place order in your monthly budget and understand where you can save and cut costs to find out how much you can save per month to pay off debts. If the answer is “nothing”, don’t despair! Later we will talk about getting out of debt with little money.
The third step is to renegotiate the debts . You already know how much you can pay per month, so go to your lender and make a proposal on how you intend to repay the debt. Almost all institutions, including banks, renegotiate debt, since between having a completely delinquent client and not receiving the amount or receiving a smaller amount in installments, the second option is much better.
When it comes to negotiating, it is extremely important to be very clear how much you can afford and formalize this contract negotiation. Read carefully and beware of new service offerings such as insurance or capitalization bonds. Focus on what matters: getting rid of debt.
How can online lending help you?
If you have not really seen a solution in your budget or even cutting a lot of expenses could not reach a minimum to negotiate with the bank, a personal loan can be a great solution! Then you will ask yourself: but I will trade one debt for another , how can this be good? Yes, and that’s great, because you’re going to exchange one (or several) expensive debt like credit card or bank overdraft for a cheaper debt, and have only one installment to pay per month, which makes it easier to organization of the monthly budget.
But then, how do you pay off debt fast? One of the best options at this time is Qcredi secured home loan, as you do everything online quickly and securely and money is available quickly. The process is quite simple:
1- You make a loan simulation and find the best option for your situation.
2- Informs about you and the property that will enter the negotiation.
3- Send your personal and property documents.
4- An expert visits you and makes a valuation of the property.
5- If approved, in a few days the amount will be available in the bank account you entered.
Among the main advantages of secured home loan are low rates and long and flexible repayment term. In addition, having the cash on hand can facilitate your negotiation with the bank and ensure even better discounts. Thus, you can pay off all debts and get organized to keep the budget always in the blue.
How to get rid of debt once and for all
Now that you have seen how to pay back accumulated debt, it is important to focus on changing habits that will ensure that you do not go through it again.
To do this, look for alternative and long term solutions. For example, if one of your main costs is fuel, how about trading the car for mass transit? Spending a lot eating out? Spend more time buying the month more carefully and preparing lunch boxes for the week. Thus, besides saving, you guarantee a balanced and quality food.
Another important change that will make all the difference when it comes to keeping your accounts in the blue from now on is putting together a financial control spreadsheet to keep your family budget in order and prevent spending from running out of control again.
In addition to cutting costs, look for new ways to earn extra income. Earning a little more can help as much as spending less, isn’t it? A good tip is to invest in the sale of lunch boxes and take advantage of the high of the healthy eating segment in Brazil. From salads for lunch and dinner to creative snack options.
Enjoy to realize other dreams
With the debt problem solved, it’s time to think ahead! We’ve given you tips on how to keep your accounts organized to avoid falling red again. But, how about taking advantage of the secured property loan to, in addition to organizing the accounts, realize an old dream like entrepreneurship, for example? As the risk of the loan is very low for the financial institution, in addition to the rates being low, the amount released is high, reaching 50% of the value of the collateral.
That’s why it’s a great opportunity to take the trip you’ve been dreaming about or invest in your studies with an English or postgraduate course to leverage your career, or start thinking about starting a profitable business and securing the future of your career. family!
When you are in debt, all is not lost. The important thing is to be clear about the size of the debt and to be able to organize to pay off. Remember that with cash in hand it is easier to get good discounts when you renegotiate your debts with the bank. And, don’t forget to read the contract carefully so as not to end up hiring additional services or paying more than the negotiated amount.
After paying off your debts, change your habits now, talk to your family, reduce costs, and control spending closely to always keep your bills in the blue. No one deserves to squeeze the bills again, do you?
With a clear head and good bills, take the time to think ahead, invest in yourself and make old dreams come true without having to heat your head with debt. This could be your chance to start a business of your own, or make that trip to another country. Since there is no better way than this to start 2020, do a loan simulation now and start carrying out all your plans.