Let's face it, when we are in debt, there are many side effects towards our body. The effects are normal that we never do something about it. Stress, no sleep, depressed and lack of energy are just a few of those side effects of being in debt. Like being overweight, it is a problem that most of the people are facing. How to stop the side effects? All you need to do is do something to be out of debt.
You want to be debt-free fast? Who else would not want that, right? Of course, everyone wants to be out of it fast. How to do it? That is the question. The answer? It is all right here.
1. Clipping vouchers. You might feel it is not worth the time and what does it do anyway? Well, it simply just gives you about 10% or more savings when you go out to buy groceries. Not bad. Come to think of it, if the total amount of your groceries is $ 100 but because of your hard work of clipping vouchers you have saved $ 10.
2. Pay more than the minimum. When you pay your debts, be sure you pay more than the minimum always. Remember, it is the interest rates that pull you down. If for example, your total debt to be paid is $ 1,000, but because you only pay the minimum like $ 110, then the interest follows. Let's say, the interest is 10% monthly, so your $ 110 is not directly deducted to your $ 1,000 debt. Only $ 90 is applied directly to your debt and the $ 10 is the interest of which will go to the credit card company. Come to think of it, if you pay the $ 1,000 you owe, within one month from which you incur it, and then there would be no interest of 10% monthly.
3. Pay on time. Remember, you are already paying an interest to your debt every time you make payment, but when you incur delay? There is another interest added as a penalty because you are late in your payments. Worst is? Most credit companies will have the interest rates jumped higher for the simple fact that you incur a delay. From 12%, it can even go up to 23%.
Credit card companies are controlling your life. It is now time, to take control and get back your life by becoming debt-free. Stop having lousy excuses, start now!