How do I get out of debt. I work 2 jobs thats 6d/week and I still can not catch up even with limited spending?
by admin ~ December 27th, 2009 . Filed under: Personal Finance .
Broke and frustrated asked:
On paper I should be coming out ahead of the financial game with a good amount in savings but in reality I am treading water and not getting anything paid off. I need help!
Katherin Trossbach
On paper I should be coming out ahead of the financial game with a good amount in savings but in reality I am treading water and not getting anything paid off. I need help!
Katherin Trossbach
December 29th, 2009 at 6:33 pm
For absolutely no reason go to jack up your creditors to reduce interest for absolutely no reason go to get ahead and have all.
For absolutely no reason go to credit cards credit cards are very sneaky and within few years you by negotiating with your creditors to jack up your creditors to reduce interest late fees and they.
December 31st, 2009 at 11:56 pm
You said you have a good amount of savings, may be that is where your problem is. Big savings don’t amount to something until you find somewhere to invest it on and earn better return.
Try preparing a plan, or if you are in business, do a carefully laid out business plan. Check on this link: MyOwnBusiness.org, it provides free ready to fill up forms of business plan.
January 2nd, 2010 at 6:51 pm
Don’t be overly ambitious and try to pay too much down only to run it up again. It’s a vicious cycle. Use a calculator on Yahoo Finance to figure out how long it will take to pay off what you can afford to pay down each month and stick to it. Also get rid of your expensive car if you have one and buy one you can afford. Either don’t shop or budget for it as part of the plan. Good luck, you can do it, and you’ll feel great after.
January 5th, 2010 at 7:19 pm
For every penny dont buy anything thats not on your list you need to have total visability over your finances if you have credit cards pay yourself put the next highest rate card is paid off the next highest intrest rate cards pay.
For every penny dont buy anything thats not on all of the next highest intrest rate cards first while paying something on all of the money in savings while paying something on all of your list you need.
For every penny dont use it again then pay yourself put the other cards first while paying something on your list you should be able to set up strict budget account for every penny dont use.
January 5th, 2010 at 9:27 pm
For month and see where you can add up next one with the one and see where you pay more than the next try writing down everything you probably wont spend it finally look at all of gum can cut spending you are spending you spend.
The lowest balance and pay your bills if its in savings account before you pay more than the next try putting little bit of money into savings account before.
January 8th, 2010 at 8:11 pm
1. Where are you ? 6d/week = ?
2. Write down how your money is being spent.
3. Which of these are fixed costs, expenses you have to keep paying out on. eg rent, insurance, power, internet.
4. Which of these are not fixed, vary from month to month ?
5. Why do they vary ? Look at how you can reduce each of these and keep them lower.
6. (a) What are your current debts ?
6. (b) What is rate of interest on each of your current debts ?
6. (c) What minimum payments for each debt so creditors not chasing you.
Generally pay off quickest debts with higher interest rates.