think wise
I’m no champion or expert when it comes to finance or debt management, but I don’t think that anyone needs to be, just to have a successful and stable financial life, or to get out debt completely. I think it’s all about being practical, separating wants from needs, and what are necessary from unnecessary. In other words, knowing when to spend or keep your money. It is best to have that “always have savings” attitude in mind, rather than spend spend spend. When it comes to debts, loans and credits, it’s quite simple, borrow only the amount that you can pay and when you’re sure that you have a source of income, where you can get those payments from. If you don’t have a job, if you don’t have money, if you’re not capable of paying, don’t even think about it. Just focus on savings first. But, if you’re already in a situation wherein you already have more than one or two debts, and you’re having a hard time taking care of them because they have separate interest rate, which one is possibly higher than the others. You still have a choice. Pay off all those debts by securing one loan with a much lower interest rate. Pay off those existing loans with the the loan and then just take care of paying one. That way you clear yourself from the other debts, start off paying right and on time with the consolidated debt, and free yourself from it eventually.
Once you get out of debt, don’t ever think about going for another adventure you might not be able to handle again. Do things right, think wise, manage your finances right, and live life easy.
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