Organizing spending and having efficient financial planning is not the strength of many people, and the result could not be otherwise: ending up with the bills in the red! According to a survey, the lack of financial education is the main explanation for the fact that one third of Brazilians are driven into debt. Six out of ten debtors don’t know how much they owe, which reduces their chances of getting out of red.
But for everything there is a solution. It’s not impossible to keep your bills on the edge of your pencil and get yourself financially restored ! With determination one can reshape the management of accounts and pay off debts.
In this post we will give you tips on how to organize and end debts. Keep an eye!
Write down write down write down
Putting all the debts, interest on each loan and your expenses on the tip of the pencil is the first step towards financial organization. Identifying which expenditures can cut those that are unnecessary and leaving the budget leaner means money left over, which can be destined to meet your financial commitments.
So write down everything you spend on the day, from a simple coffee to a mall purchase, and evaluate which expenses can be eliminated, even temporarily, and which ones can be reduced. Also now control the power consumption, water and egs in your home. Review grocery shopping habits and phone plans. You will feel a huge difference!
If you want to have everything noted, but in a more practical way, enter the GuiaBayment application. When you log in to your account, expenses are listed and categorized automatically.
Lists the Debts It is important to know where you are paying a lot of interest, which will be helpful in the next tip…
Search for low interest loans
Attempting to renegotiate with the lender, apply for a lower interest loan or make bank portability are some options that can help many indebted people settle their debts and get out of the red. Interest Rates They vary widely between different financial institutions, which can benefit those who are looking for better rate conditions to negotiate a new credit and pay off larger debts.
There are several reliable institutions in the market that charge lower interest on personal loans. It is the case of Just, Best Bank, among others. You can simulate loans in various places within the GuiaBayment application. The idea is that with the borrowed money you pay the expensive debts, such as overdraft and credit card, and pay less interest. Did you see how easy it is to start organizing debts?
Moderate leisure spending
For many consumers leisure spending is very heavy on the pocket. Movies, shopping, restaurants, travel, sightseeing, and many other expenses that often do not fit the budget, but nonetheless nonetheless.
Free activities like going to the beach or walks in the park are good alternatives for those who want to have fun, however, without worrying about the huge expenses involved. So if you want to organize your debts, moderate your leisure programs and put what they represent for the budget on the tip of your pencil.
No new questions
For many people shopping in installments gives rise to a real “snowball,” so this payment option turns out to be a major downfall for debt. When purchases are made in installments, the consumer has the false impression that he spent little, as he did not see the full amount out of his pocket (at least not immediately), which is a danger when organizing the debts.
Trying to save money to pay for cash and still get a good discount for using money is an excellent advantage. Therefore, eliminate term purchases and credit cards altogether.
So, did you like our tips? Have you ever been wrapped up in doubt? How about helping your friends organize their debts? Then share our content on your social networks!