Mika
VIP Contributor
No matter whether it is a personal debt or a business debt, you should immediately come out of your debt if you want to improve your finances. If you lack funds to pay off debt and if you do not have good income to pay your debt, consider these strategies:
Sell assets: Do you have gold, car, land, or even additional properties? If you have saleable assets, liquidate them to repay your loan.
Work harder: If the first option is not available, increase your income through hard work. Find additional work, work additional hours.
Cut spending: Reduce expenses, not just the unnecessary expenses, but even the necessary ones so that you can allocate more funds towards debt repayment.
Sell assets: Do you have gold, car, land, or even additional properties? If you have saleable assets, liquidate them to repay your loan.
Work harder: If the first option is not available, increase your income through hard work. Find additional work, work additional hours.
Cut spending: Reduce expenses, not just the unnecessary expenses, but even the necessary ones so that you can allocate more funds towards debt repayment.
