Eid was over, no longer coming Christmas and New Year. We just had a lot of money, in a few months we must face the fact that the holiday can also cost quite a bit. Worse of all expenditures are then financed with debt, including consumer debt into either through credit cards and unsecured loans that lately more and more frequent and widespread once offered. Interest consumer debt, especially credit card so big that you will make in debt if you are not careful in using it.
But if you've already owe (hopefully not in debt) can read some of these tips so you can be debt-free and always clear of debt.
Step One: Stop Shopping, Start Paying
Will be in vain if you try to pay and pay off your debts while you're still making new loans. Begin by calculating the total debt that you have. Take a piece of paper and make four columns in it. Dikolom first make a list of names of financial institutions (banks) where you have a debt. Next dikolom input your debt amount from each bank. The third column where you write down the interest rates charged and you are charged for each credit card. And last dikolom input minimum payment of each credit card.
Try to rearrange the list of your creditors with creditors who registered the largest rate menggenakan top and Pay the debt with the cost (interest) most of the first. Ration of debt your monthly mortgage payment, pay the minimum payments to other debts and the remainder is paid to the largest nominal debt with the highest interest rate as above.
Selling your valuables, thawed and deposit your savings and pay all these assets to pay off your debts now. There is no point you have millions of rupiah deposits with interest of 7% per year if you have to pay credit card debt by 42% per annum interest rate which means your money minus 35% per year.
Step Two: Borrow More Money More
Confused? It sounds really weird when I wrote the above you may not owe, but now I encourage you to owe. What is meant by borrowing more money is owed alias to pay the old debt with a new one with a note:
The amount of new debt should not exceed the debt of the old and
The new debt interest rates should be lower than interest rates on old debt.
With the increasingly intense competition for good customers who want to get into debt, credit cards and financial institutions competing to offer loans with lower interest rate than before. Many credit cards now offer balance transfer facilities, aka moving your debt on a credit card the old to the new credit card with the lure of lower interest rates. If you are observant and can take advantage of this facility does not rule you will be able to save on interest charges.
You should always remember is this step is a form of temporary solution for the short term so that you are not burdened with considerable interest. Your final goal is still to eliminate your credit card debt. In doing this transaction be careful and always read the written offer submitted by the credit card issuer. Do not get caught into the trap of cheap interest rates for a certain period (short) which will then rise to much more expensive than your debt interest bertama. Edges that you will be harmed.
Step Three: Do not Owe More
The key word is: self-discipline. The moment you begin to repay your debts in accordance with the first and second steps do you feel satisfied with your success so that you begin to add new debt. It means if you use a credit card again then immediately pay a sum of money that you wear on a bill payment at maturity. If you can not use the discipline to do this alone charge card or debit card so that you no longer in debt.
The last strategy is called the envelope of management which means if you need to use a credit card (when you do not carry cash) then you at home soon after arrival input that will be paid cash to pay for your purposes and separated into a sealed envelope and put in place a locked. Use these funds when your credit card bill comes.
But if you've already owe (hopefully not in debt) can read some of these tips so you can be debt-free and always clear of debt.
Step One: Stop Shopping, Start Paying
Will be in vain if you try to pay and pay off your debts while you're still making new loans. Begin by calculating the total debt that you have. Take a piece of paper and make four columns in it. Dikolom first make a list of names of financial institutions (banks) where you have a debt. Next dikolom input your debt amount from each bank. The third column where you write down the interest rates charged and you are charged for each credit card. And last dikolom input minimum payment of each credit card.
Try to rearrange the list of your creditors with creditors who registered the largest rate menggenakan top and Pay the debt with the cost (interest) most of the first. Ration of debt your monthly mortgage payment, pay the minimum payments to other debts and the remainder is paid to the largest nominal debt with the highest interest rate as above.
Selling your valuables, thawed and deposit your savings and pay all these assets to pay off your debts now. There is no point you have millions of rupiah deposits with interest of 7% per year if you have to pay credit card debt by 42% per annum interest rate which means your money minus 35% per year.
Step Two: Borrow More Money More
Confused? It sounds really weird when I wrote the above you may not owe, but now I encourage you to owe. What is meant by borrowing more money is owed alias to pay the old debt with a new one with a note:
The amount of new debt should not exceed the debt of the old and
The new debt interest rates should be lower than interest rates on old debt.
With the increasingly intense competition for good customers who want to get into debt, credit cards and financial institutions competing to offer loans with lower interest rate than before. Many credit cards now offer balance transfer facilities, aka moving your debt on a credit card the old to the new credit card with the lure of lower interest rates. If you are observant and can take advantage of this facility does not rule you will be able to save on interest charges.
You should always remember is this step is a form of temporary solution for the short term so that you are not burdened with considerable interest. Your final goal is still to eliminate your credit card debt. In doing this transaction be careful and always read the written offer submitted by the credit card issuer. Do not get caught into the trap of cheap interest rates for a certain period (short) which will then rise to much more expensive than your debt interest bertama. Edges that you will be harmed.
Step Three: Do not Owe More
The key word is: self-discipline. The moment you begin to repay your debts in accordance with the first and second steps do you feel satisfied with your success so that you begin to add new debt. It means if you use a credit card again then immediately pay a sum of money that you wear on a bill payment at maturity. If you can not use the discipline to do this alone charge card or debit card so that you no longer in debt.
The last strategy is called the envelope of management which means if you need to use a credit card (when you do not carry cash) then you at home soon after arrival input that will be paid cash to pay for your purposes and separated into a sealed envelope and put in place a locked. Use these funds when your credit card bill comes.
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