3 Tips to get out of Debt

[raaman]

1. Arrange the payment of debts:

This tip may seem redundant, but prioritizing the payment of debts is to prevent the overdue accounts from accumulating, turning into a snowball.

So, before making new debts and committing yourself financially, seek an agreement with your creditors and take the first step to get out of debt.

2. Pay debt with higher interest first:

When paying off your debts, remember to prioritize those with higher interest rates, okay? Get organized and know all the debts you have, to pay the ones that increase the most over the months.

When it comes to getting out of debt, also prioritize bills for essential services, such as water and electricity. Also, keep an eye on bills like rent and house, to avoid new expenses.

3. Extra Income:

Extra income is always welcome, right? But in this case, our tip is that you use this extra cash to get out of debt.

 

[Doradorwa]

Very easy outline up there and even I will put it into practice. The thing is that I really don't like loans or even taking them. Especially when you do not have a solid source of income. They can get you head is a bit messed up. Loans should only be taken when all seems bad and blickey. If you are a business owner also run on a surplus budget. Which means that always have some money hidden away to cover emergency.

 

[sincerem]

The last tip is one i favour most amongst the rest. Seeking for extra cash online or offline can help us get out of debts. I never liked an idea of taking loans in my life. I don't like to owe, i love to be free from outstanding debts. So having extra place to work out for cash to solve some little needs will quash the idea of taking loans of whatsoever.

 

[Chibson]

Your write-up is good but I want to add my own ways of getting out of debt. Being on debtcan be worrisome and of course makes you feel uncomfortable. That is the reason why I avoid anything that I don't have money for because I can't borrow money from people. One of the ways to get out of debt is, saving consistently certain percentage of your salary or income

 

[btaliat]

The best way to get out of loan is not to go into it at all. But if paradventure we find ourselves in it, we need to start by cutting our expenses in order to see extra income to balance off the debt. And we need to make sure, we save persisitently in order to be able to pay off the debt conviniently.

 

[Tundi Mick]

I love reading your post because of how easy you make the topic easy to understand and we'll arranged.

1. Arrange the payment of debts:

This tip may seem redundant, but prioritizing the payment of debts is to prevent the overdue accounts from accumulating, turning into a snowball.

So, before making new debts and committing yourself financially, seek an agreement with your creditors and take the first step to get out of debt.

2. Pay debt with higher interest first:

When paying off your debts, remember to prioritize those with higher interest rates, okay? Get organized and know all the debts you have, to pay the ones that increase the most over the months.

When it comes to getting out of debt, also prioritize bills for essential services, such as water and electricity. Also, keep an eye on bills like rent and house, to avoid new expenses.

3. Extra Income:

Extra income is always welcome, right? But in this case, our tip is that you use this extra cash to get out of debt.

The best way to get out of debt is avoiding loan or borrowing at the first instance. With your outline it will help those who already are on debt and looking for some sort of advice to pay up their debt. For me I took a little loan of 150k from my bank to invest in BTC, with the current downward movement of BTC, I just hope I won't be in debt that will cost much.