1. Realize that you owe.
Whatever your debt besat, realize that you have a debt. This is the first step to freedom from his net. Because when it is realized, you will be motivated to seek a way out. Conversely, if you are indifferent, and was not owed, usually you will be lazy to find a solution.
2. Calculate Debt.
When it comes the awareness that, please sit down, make a note of how the debt entirely. Write down who you owe, including small debts that you are not aware of, such as debt to friends and parents. Do not forget to calculate interest. See also the period of repayment. Prioritize who need a quick settlement, for example, credit card debt and Loan. With this record, will be reflected in the overall obligation to pay your debt entirely.
3. Debt Negotiation.
In some of the debtor (creditor), you can attempt to negotiate for ease of payment. For example, apply for a reduction in lending rates to the bank or private lender. Or transfer the debt to the bank interest rates low. Today many banks that offer balance transfer program with zero percent interest in a few months. You can also ask for waivers on bank lending. Tell me honestly just your financial situation are difficult. Usually there will be a payment alternative that suits your financial condition. Be careful not to get stuck on a floating interest rate or not fixed, which at times can change. If you go down no problem, but if the interest rises, you will entangled installment will continue to grow.
4. Proportion of Income.
Create a proportion of your income per month. This will allow for the payment of debts. That way you know clearly where your money flows. Ideally, the mortgage debt should not exceed 30 percent of your income. But in a pinch, can be enlarged again. After all, is temporary. Once financial conditions have improved, this post could be diverted to other expenses, or saved.
5. Immediate Pay.
When you've got a debt scheme, and know the ability to pay monthly, pay promptly on time. Do not be postponed again because it will increase the interest. Prioritize the repayment of the debt are high value and have a major impact as a foreclosure home and car. When you have more than one credit card, prioritize large amounts or high-interest.
6. Search for Extra Income.
If it is a debt that must be paid every month is very large, can not be addressed by current income, you inevitably have to look for additional income. Could seek a second job, or working overtime. If you have a number of items worth selling, you should sell it through online or garage sale.
7. Hold Lust Shopping.
To calculate how much of your ability to pay the debt every month, would have known how spending a month. Ideally, heading for a big plus in order to pay the debt repayment can be fast. In order for this post can be large, then the expenditure is minimized. This means that you must hold the spending appetite for a while, until your debt is paid off.
8. Lowering the Standard of Living.
If the above steps still not relieve you of the debt, immediately lower your standard of living. For example, searching for a cheaper rental home, move into a cheaper purchase price, or if it needs to be moved to an old folks home. replace the car with a cheaper, in terms of fuel or price. Reduce also eat at expensive restaurants or cafes. If you need to bring lunches to the office.
9. Stop Owe.
If you do not meet the ability to take any loan, then do not ever dare owe. Moreover, the credit card submitted. Some people who live without a credit card pretending to be calm. If you want to buy something better to wait until there is enough money. It takes time, but quieter life if not pursued debt.
