- With credit to a lot of things you used to buy with money buy.
- Loans to consolidate debts or to extend existing loan request.
- Declining balance checkbook months, even if your standard of living remained about the same.
- Only pay the minimum amount due on the free accounts.
- Received several communications from your creditors.
- Dipping into savings to pay bills that you pay your salary.
- Borrowing against your life insurance with little chance that you'll be able to repay.
- Depending on income support, such as overtime and dividends, to get through the month.
- The use of your account "discovered" to pay regular monthly bills.
- Juggling to pay rent or mortgage money on the other creditors.
If you are a consumer in the world in one of the richest countries, there is a good chance that you have accumulated a debt of credit. Buying on credit can be a practice if it is handled with care. But it also has a financial headache, especially if you are behind on your payments.
Take a few minutes to examine the short article entitled "10 signs of the warnings." If you find that you are responsible for advice on financial problems, not fear. There are steps you can ease your financial burden.
You can do it yourself?
You can solve your debt by managing your finances better. Whether you are in debt and still make monthly payments on all your commitments, you should ask for further assistance.
Talk to your creditors
Many creditors are more than willing to help you restructure your payments on debt, because it is in their interest to get back on its feet financially. Make sure you talk to your local banker. Bankers realize that even people with good credit loans can be a problem. Your bank can offer a range of solutions at a difficult time to help.
You can also contact a financial counseling for help. Some unions, universities, county extension agents, military, credit and housing authorities such programs and invite you little or nothing for their assistance.
If you are in the United States, a visit can live with a counselor at nonprofit Consumer Credit Counseling Service can be useful. Trained advisers will seek a payment plan acceptable to you and your creditors and help you adjust to formulate a realistic budget.
For more information on how to contact an office near you, see below. Consulting services in several other countries are also listed.
What is bankruptcy?
If you have debt, you may think that bankruptcy is a simple solution. But it really is not. According to the American Bankers Association (ABA), bankruptcy can stay on your credit record for up to 10 years. If you go bankrupt, you will find it difficult to access any type of credit or get credit - whether for a house, car or other purchases.
In addition, bankruptcy does not automatically erase all debt. There are obligations, you can still responsible for payment. So, after the ABA, it is in your best interest to resolve your debt problems in a way other than declaring bankruptcy.
Where to find help
Many nonprofit organizations offer financial advice or economical.
Australia: Australia different: local welfare and church agencies such as Life Line offers budgeting advice and support. Check your telephone directory for an agency in your area.
Canada: Canada: Write or call the Credit Counselling Service, 27 Carlton Street, Suite 301, Toronto, Ontario M5B 1L2, (416) 593-7434.
Philippines and South Africa, the Philippines and see in South Africa: Contact your local government or a bank, whether it's financial advisory services to the public.
Britain and New Zealand United Kingdom and New Zealand: The Citizens Advice Bureau provides advice and financial resources. Contact information for the directory or contact your local phone book for the number of offices in your area.
United States: United States Consumer Credit Counseling Service offers financial advice and credit. Check your telephone directory or contact the National Endowment for Consumer Credit, Inc., 8611 2nd Ave., Suite 100, Silver Spring, MD 20910 1-800-388-2227 or (301) 589-5600.
Malaysia: "Agensi Kaunseling Dan Pengurusan Kredit (AKPK)" provides financial education, financial counseling and debt management.
Compare credit card offers Secured credit card application Bad
With credit card companies and banks near the money is ready, it can be difficult to get a credit card. This is especially true for someone who has no credit, adverse credit or bad credit. A popular alternative if you try to get a credit card to obtain a secured credit card. The credit card has been designed to allow the borrower to establish or repair their credit responsibly with credit cards. Here, to know how to look at the credit card information to a potential borrower should provide.
Secure Information Credit
Secured credit card works is that after the approval of the Borrower deposit cash into an account held by the Bank Credit Card Company. This amount is usually small, somewhere between $ 300 and $ 500 dollars. The borrower is then a credit card for this amount, an amount slightly higher than the deposit paid.
A cash deposit to earn interest?
Yes, because the borrower deposited the money into a type of savings account, earning interest on the money. Shop around for the best rates, but it should be noted that the rate will probably be similar to obtain the interest rates on savings from other accounts.
Reliable information on fees connected
Because the borrower is considered higher risk than other borrowers may be able to an unsecured credit card can be taken will be brought to the extra costs of obtaining and maintaining credit in it. These costs include, without limitation, fees, monthly fees and even fees. Shop around for credit cards best attempt to limit the amount of taxes saved.
Care insurance on a credit card guarantee
Because many people with the high costs associated with obtaining a credit card deposit, some lenders have changed the way their card. Instead of implementation, maintenance and usage charges imposed security charges. The tax replaces in essence, these taxes are paid monthly.
If you're like most people, they have enough money for decent and secure life is one of your main problems. People with fixed incomes may relate in particular to creeping inflation, rising costs for goods and services. The threat of unemployment or job loss (or non) causes nervousness.
Maybe you're a single mother with several children and a greater risk of falling below the poverty line. What will you do to improve your financial situation? Or you are deep in debt. How will your payments and debt free?
reasonable prosperity is something we all like to achieve and maintain will be. But in many countries, people almost insurmountable financial difficulties. Things that most people in developed countries take for granted - cars, electronic gadgets, savings accounts, appropriate clothing and furniture - out of reach for most of the human race.
Many developing countries are facing an incredible poverty, almost galloping inflation, unpayable debt, unemployment and unemployment level. People in the country in terms of basic survival thinking instead of financial wealth.
To some extent, by reading this book, they are on the shoulders of those who live in rich countries have the opportunity to try to improve its financial position.
Yes, then look five financial principles that one person can help you financially secure.
1) The amounts of the budget reasonable
An important point to remember: Make the most of the money they deserve now. To spend money effectively the same as his salary increases. How is "the ratio of money management? Consultant financial well-known family wrote:" manage your money is probably the most important thing you can do today. "
We can learn to be servants of money, but may still end up being poor. We must be prudent to spend money. Studies show that even people who earn large salaries are still being felt in financial difficulty. It seems that the needs of many people and desired expenditure exceeds their income.
Sound money management taught basic financial principle: It is never enough money for everything you could need. We need to plan a reasonable cost.
A spending plan is like a roadmap. The budget allows us to achieve our goal of financial hurt. All companies and the government should have a plan and costs seek to follow. This plan management and efficient use of money in several ways. It helps:
Living in our way. Plans gives us more control over our financial resources. We can know immediately if anything, we want to buy available.
Achieve your personal goals. With a budget of expenditures, acquisitions, we can plan properly, accumulate debt, saving, saving for the future.
Spend money effectively. Retailers know that consumers purchased from the ring. Member of the shelves of supermarkets are often deployed to promote purchases. Plan expenditure allows us to avoid impulse purchases. We buy only what we had planned to buy and says things in our plan to make sure that we can.
A spending plan helps us ask the right questions about our money. Is it time to buy this product? If this is the cheapest way to buy it? We would rather have this product than anything else? Do we have money to buy it? Is it fit with our goals in life?
Plan expenditure allows us desire this pleasure in the long and short financial balance needs. Rather than buy now and pay later, we start thinking about saving to buy if you can afford.
If you do not know where the money is flowing, you can not get where it should go. A budget or spending plan should include three main areas:
Emergencies. We must set aside money every month for unforeseen circumstances such as cars and home repairs.
higher cost items. Do not buy new televisions that today. Money every month in a savings account. Buy TV for money - financially on your terms, without interest, and most appropriately, for example, if a quick sale. Do not buy new televisions that today. Money every month in a savings account. Buy TV for money - financially on your terms, without interest, and most appropriately, for example, if a quick sale.
Annual or periodic invoices. Put a little money each week, month or pay period for a future law, such as insurance or taxes. For example, if you pay an insurance bill every year, one twelfth of the amount set aside in savings each month.
2) Increase in income
A further step towards financial security to do with the need to increase our revenue. We have enough money and resources to make life what it should be, without threat to our intellectual, social and spiritual needs.
Most people have one hour wage or salary paid for the work of someone else. If you're in this situation to increase your chances of your income is unexpectedly large sum that is not very promising. You can receive automatic, but is a formula basis for small business or a union, management contract. In some cases, your company can offer integrated rising cost of living.
If there is a possibility of "going back" financially, must prove its utility. Learn more value to your boss or company. Aimed at supporting your organization earn more money, save money or improve their products or services. Earn increase.
What if you can not do better financially, even to work harder and smarter? You have two options. Do not move or change jobs or the company. I do not think leaving your current job, but a better and safer expected to understand.
Maybe work a little kind of monetary value. And have achieved the highest return possible. Can you educate yourself and improve the marketability of work?
Maybe you can make your own workplace by creating a small business. To succeed, you need your product or service and useful for consumers. Note however that the huge amount of documents to be independent.
In other words, be able to earn more, depends on the attitude of your service to others. It also means the best of his abilities and situation.
3) use credit cards wisely
Proper use of credit cards is very movement of goods and services more easily. Long-term loans at low interest rates for purchases such as houses or cars that otherwise would have helped if the accumulated savings of several years.
Another mechanism of credit, credit cards, is a great advantage for users who have been temporarily low on cash. It is likely large amounts of money, especially for long trips eliminated. And credit cards can even be necessary for some purchases. But buying on credit can be a curse as well as financially, especially if the person behind in payments.
Purchase of credit often creates the illusion of prosperity. come to the small size of the monthly payment, he at the end of the month, as well as lack of liquidity at the time of purchase is a luxury suddenly seems very close. These features persuade millions of families whose income is also to spend their wages before you receive it.
Once trapped in contributions, money that may be in a bank savings account. In fact, you pay premium to get something now than later.
If you typically use credit and thus, it can often be a costly decision. Many credit cards, revolving credit accounts and bank overdrafts automatically require minimum monthly charge interest on the amount due. He added, sometimes up to a whopping 18 percent annually.
Shopping in cash, on the other hand, can often save consumers more than the monthly interest. The person can sometimes be paid in cash to buy at a discount. Cash customers can also take advantage of seasonal sales. They are able to purchase more freely, where their money has more buying power. Buy those that are sometimes forced to credit when they instructed their bank accounts, even if the sale might happen next.
The average fund manager must first recognize that there are two types of household and personal expenses: needs and desires. It is important to know the difference. In modern society to acquire credit products such as car or house is considered necessary. Even those purchases, but can sometimes be delayed until more funds available to reduce financing costs.
On the other hand, the loan will be used rarely. Families often need to be difficulties in using too much credit, rather than what they actually need. While they can accumulate savings, they must make a purchase by political means, such as televisions, furniture, sporting goods or surplus, on a strictly cash. Here's why: cash savings or wishes of luxury remarkable effect on the monetary stability of a family member. If you save money, no doubt in my mind, if you can afford the product or indeed if you really want.
To use this approach must not be allowed to buy anything on credit until the accounts are paid in full. At least to limit credit purchases during the transition to an absolute minimum, so you get credit paid as soon as possible. So instead of immediately forcing additional payments by purchasing additional products to accumulate savings, you can start to buy these products for money.
Remember: The wise family can learn to live with the loans, but should never be forgotten!
4) Trim costs
We live in a "period of the desired" as a body called the Money Management. That is, we order our lives in faith and the need to continuously update personal needs. We accept this increase in our standard of living for granted. we spend our money on this assumption.
It may seem strange to say that we have a critical look at what they buy or use - and reduce costs. But this is exactly what we should do if we want to increase the value of our currency.
Some examples. Do you think that your magazine subscriptions from? Do you need the services of a gardener? Is it really necessary to have a new car? Why not buy a good used? New car payments and insurance is usually required is the ruin of many private households.
An important reason for the money do not buy what follows, we use many more services than ever before. Most services are heavily dependent on labor costs. If you carefully budget your money, we can use services that lead to the identification of additional costs. Then we can take appropriate measures to change consumer habits.
An example of an area where you may be able to reduce costs is to eat less. You might be surprised what some people spend more than a year eating in restaurants. Calculate the cost of a meal in a restaurant. Then consider how many times you do this week and multiplying the amount spent by 52. Find the annual cost of food can be very high.
5) investment for the future
To achieve their financial goals, we need only be planned tomorrow. But we also need to think carefully in future. If you plan for regular savings in our budget, we can build a nest egg over the years.
It is important to consider your goals in life as soon as possible. However, it is never too late to do so. Think about your long-term financial goals. Make this country and its cost savings plan. What about buying a house, the cost of raising children, and money for retirement?
Perhaps our turnover is not that great. Can we save at least a small part of the year? If we do, for a period of 30 years of money in a reasonable investment, we will be surprised how many have in recent years in our lives. Of this kind can rely on in retirement income, interest received on our investments.
So far we have discussed several issues of increasing revenue and cost reasonable. Now I want to go to the most important in managing their personal finances.