On the Finance Highway to Debt Central?

Finance doesn’t have to be so hard

There are many stresses surrounding us every day but we all know that good old finance stress is right at the top of the festering heap. I’m sure you know if you’re a day late on that car loan repayment to expect a phone call from Mister Lender.finance
With finance the bills never seem to go away and we often feel we are just working like a dog to pay for them. Where’s the enjoyment in that?

Take a holiday from finance stressSo how do you take a finance holiday from mounting debt?

Well that all depends on how deeply you are in pile of poo we call finance stress.
Sure you could decide to become bankrupt if it’s finance leprosy you’re after. Believe me the lenders will run from you like you have the plague.
You could start bailing when the ship of life get’s filled to the brim with smelly debt water or you could hide under a rock or chuck it all in, cash in your chips and take a fast trip to the local mental hospital. Butwhatever you do you need to have a plan!
The answer isn’t easy and it will take considerable work on your part. Finance is all about getting organised. You know that your payments are due on a set day so get youself a diary for finance and let’s get going on a list.
Start off by listing all your due dates and filling in the finance diary making sure to put a reminder for yourself the day before the debt is due. That way you know when you get up that morning and open that diary that you credit card bill or whatever is due tomorrow.
Next get out a piece of blank paper or if you are computer literate open up an Excel (or similar) spreadsheet and list all of your debts (No matter how small or insignificant), your income, utility bills (Phone, Power, Gas, Water & Rates), Insurances like Health Insurance, Car Insurance and Life Insurance and any other outgoing expenses like rent, day care, school fees and work out a budget. If you have any left over after allowing for food, clothes and entertainment then set up a dedicated account for a holiday fund. Please remember that finance debts are paramount as late payment often incurs fees and can affect your credit rating.
After this finance exercise, if you are like most people and owe more than you earn then trouble has just come knocking on your door. You are living above your means my friend and it’s time to pull in that belt or else you could earn a trip out of the frying pan and into the fire! You will need to look for ways to trim the debt or increase your income by getting a second casual job or some extra overtime.
You could also take stock of what assets you could sell around the home at a Garage sale or on Ebay or similar to raise some extra capital to pay off debts. Like I said before finance is all about getting organised.
With tax time due soon why not make a resolution to invest your full tax refund to reducing some finance debt. How about friends or family you have lent money to in the past; call them up and see if they can settle their debt to you even if they have to pay you off a little at a time.
Just get creative or your finance credit rating could end up gurgling down the toilet.
No stress. Just Pure FinanceThe faster you can reduce your personal debt and get your household budget into surplus the faster you can take that holiday from debt. It’s your choice. If you can think of any other ways to take a holiday from your debt then please leave a comment. We’d like to hear from you. Finance Stress Free is based on the Gold Coast in Queensland Australia and provides finance advice, tips, tricks, hints and positive information to make finance a little easier for you.
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