A life of debt isn’t all fun and games.
It can be very, very hard, and we can all learn from the stories of people who have dealt with this.
We all have to make tough decisions about how to live and invest our money.
In this article, we’ll explore some of the lessons of life in financial crisis.
If you have any tips or ideas for how to survive in this tough time, share them in the comments below.1.
Pay down debt faster, and pay down as little as possible.1-1/2 years debt is manageable.2-3 years debt can get out of hand.4-5 years debt becomes a burden.
Debt-free savings accounts are the most effective way to pay down debt, according to a study by Bankrate.com.2.
Don’t give up.
Debts are always a burden to the person making the decision to pay.
You need to have a plan and take action to make the decision easier.
If it’s a big, costly decision, you might have to postpone the payment until a later date.3.
Take action early.
Debtor’s insurance company will be paying you if you’re not able to pay your debt off.4.
Don, taht is your choice.
Many people who are struggling with debt are stuck in a cycle of debt and regretful decision making.5.
Take time to think about the future.
You have to take time to consider the future, according a study from The Huffington Post.
You’re not going to make a big difference unless you make a good first impression.7.
Find a way to stay on top of your expenses.
If you’re trying to pay off debt, pay your bills off slowly.
Pay off your mortgage quickly and take out credit cards that pay off faster.8.
Use your credit card responsibly.
Paying down your debt is not easy, and you’ll still need to pay bills, but you’ll get a lot more bang for your buck.9.
Be mindful of your finances.
Pay down debt as fast as you can.10.
Take a vacation.
If it’s hard to pay for your mortgage, take a trip to Hawaii.
It’s one of the most expensive vacations in the world.11.
Take the time to make your credit report.
The more information you have about your financial situation, the more accurate your credit score will be.12.
Find an affordable insurance company.
If a financial crisis makes it impossible for you to pay back your debts, it may be time to reconsider your financial decisions.
The American Consumer Credit Union offers free financial assistance for people in crisis.