I read this funny quote on a magazine and wrote it down on the front page of my planner:
A bank is a place where they lend you an umbrella in fair weather and ask for it back when it begins to rain.Funny. But, ironically true. Loans can help us in our dire needs and more often, in acquiring what we so desire. However, during payback times, we sometimes find ourselves in sticky situations where we regret taking those loans. Okay, do not take me wrong on this. I am in no way against loans, as long as you are able to pay and you use them for good intents and purposes.
The danger is, getting loans can become a bad habit and will wreak havoc on your finances and your whole life. Usually this happens little by little. It begins with unnecessary purchases using your credit cards, then followed by an ‘untimely’ purchase of a new car via a car loan or through a lending company, or borrowing money for a extravagant celebrations, and more. Then you wake up in the morning to find your mail boxes filled with demand letters.
Here’s how you should deal with that sticky situation: Get out of it!
Easier said than done. But you can get out of that pesky situation. It is doable.
For one, you might want to try debt consolidation for your larger loans and those bills that endlessly badger every end of the month. By consolidating these things, you can better manage your debts. So that, rather than paying off several separate bills each month, you loan from one among legitimate debt management companies who will arrange a low-interest and flexible repayments for you. Yeah, that can be arranged. Now, I see the sign of relief in your eyes. Debt consolidation is a good idea for freeing yourself from bad loans and other debts. Also, the key here is finding the right finance counselor or debt management expert to help you.
What’s next? Break the habit! Be contented with what you have. Save for the rainy days, and spend only on your needs and let that 54-inch take the back seat for awhile –that is, do not spend on wants unless you have money to spare. Lastly, educate yourself. You might want to peruse more info on debt collection basics and how to improve your credit score.
“Money never made a man happy yet, nor will it. The more a man has, the more he wants. Instead of filling a vacuum, it makes one.”~Benjamin Franklin
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Debts Loans,
Problems with Money
2 comments:
Credit card debt consolidation is considered to be good idea for the borrowers as it helps to make single payment for different credit card debts- it also helps the borrower to lock desired interest rate for all the debts. Debt Free
I can relate to this post. We are trying to get out from under our acquired debt and we are doing it little by little. It does take discipline and will power on each party concerned. By working together and not against one another, we will be successful with the task at hand. Thanks!
Friends 4 Life!