Debt How to control debt

funmi

Verified member
Debt to some people is inevitable. Some of the reasons for owing debt is because people their expenses is more than their income. While some don't know how to manage their needs.
The truth is that humans are insatiable, when one need is fulfilled, another one will definitely show up. But many people don't know how to manage their appetite for needs.
The first thing to note while preventing debt is to separate your needs from your wants. And also to check out for pressing needs.
Secondly, we must always plan our budget well in order to prevent planning for what is more than our income. For example, if your income at the end of the month is #20,000, you must make sure that the debt you will owning if at all there is any should not be more than #10,000. Buy so doing, you will be able to pay your debt convenient and also have enough money left with you.
 

sincerem

VIP Contributor
Debt becomes much for one living exorbitant lifestyle without control, even when he or she earns a lot, it will go into quick spending and quash the money there. At times too, family challenges makes one to lose money and borrow in order to sustain the family based on their low earnings. But one who manages funds, won't be spending much, and he or she won't borrow much too.
 
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Augusta

Valued Contributor
For me I hate to owed so I try not to buy on credit at all. It isn't difficult if you can control yourself because the root cause of debt is Owings
If you want to stay away from debt then never buy anything on credit and not borrow to pay later. Live by your means
 
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Sotherefore

Valued Contributor
some people who are fun of taking and collecting loan sometimes are always the lazy people, sometimes they may not also be lazy because there are some circumstances in life that will make some people to get loan. Getting a loan to me is something you should be very sure you will pay back, if you cannot have any assurance of paying back then I don't see the need.
 
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sincerem

VIP Contributor
For me I hate to owed so I try not to buy on credit at all. It isn't difficult if you can control yourself because the root cause of debt is Owing
If you want to stay away from debt then never buy anything on credit and not borrow to pay later. Live by your means
That's it. And what will enable you to avoid being in debt is simply cutting down your appetite for exorbitant things. Your answer is still nice, avoiding buying things credit is one of the factors to consider in order to avoid soaking inside debt. I try to manage myself as i can afford and not stretching my hands on what i can't afford.
 
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Alexandoy

VIP Contributor
There are people who are like a magician when it comes to juggling with the debts. They would borrow from A to pay back B and C. Later on they will borrow from D to pay back A. But in the end he loses from the interest payments. When you have control over your debts that means you have the capacity to pay back without borrowing.
 
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Sammyesx

Verified member
Most debtor that are unable to pay back their debt is as a result of borrowing money that is way beyond their capacity, if one does not have a means of getting a particular amount of money, such amount should not be borrowed unless it will be almost impossible to pay back.
 
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Abigael

Verified member
I believe that debt can be evaded if you make a mental decision to do so. That way, you exercise so much self control by being satisfied with what you have and controlling your urges. Budgetting also helps alot here. That is where you specify your wants and use the money you have to justify just that. It is also great to save some money so that you borrow from yourself whenever you need anything.
 
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