R2 FINANCE

So what are the different ways to deal with debt?  When it comes to debt, all you want to do is hide away and pretend your wants and desires did not bring you to a place of uncontrollable lust by purchasing all you have chased after, on credit -  in simple terms without any money upfront – and then freaked out when the bill arrives. Did you forget when you first signed the contract that the interest was going to be high?  Of course you did, otherwise you wouldn’t have hit the panic button when the bill arrived.

Now you have the task of figuring out how you are going to pay it considering the monthly payment is nearly the same as your weekly wage. So what are you going to do?  Well the first thing is not to panic, the second is take a deep breath and finally let your fingers do the work.  Check online sources, the telephone book, business directory, newspapers including the local free newspaper, even the ‘junk’ mail may include a pamphlet or brochure advertising loans. Ask your family or friends if they know any good loan provider who deals with debt consolidation.  Even check out your local church, they may be able to give some form of assistance even if it is just information.

So what are the different ways to deal with debt?  Firstly get more control of your emotions – you buy according to your emotions and if you can control this, you have won half the battle.  If it works better, get a debt consolidation loan, turning many debts into one, but have the goal that no more un-necessary purchasing. Go to Budget Advice and get help with budgeting. Making a list of all your debts will help you to organize them into priority and then begin the process of paying them off.  Cut that credit card up, its the biggest offender of debt you have.  Convince your mind that cash upfront is the best way to go and if you do not have it, then you do not need it.  Take out a secondary job, that is if you have not already.  Check your banking institute out. They may have some form of loan that will help, but really you want to avoid any loans if possible.  The last option but one still to be considered is to declare yourself bankrupt,  At least it will settle your debts although it will impact on you as a reliable source for future financial dealings, but hey, if it means debt free, why not?  There are a few online sources which will lead you to a guide on dealing with problems with debt so if you are serious problem, check them out, you might find everything you are looking for in one place.  Over all, the best way to deal with debt is not to fall into the trap laid by advertising agents and be content with what you already have