How to solve the root?
Credit is no longer something strange in the lives of young people. In some cases used properly – moderately frequently, it is very good. But if not, you will unknowingly become a “credit card debtor” from time to time.
Of course, on the surface you may still be fine, but if you have the following signs, it may be time to balance your finances and spending to avoid falling into a difficult situation.
This article will help you point out the “red alert” situation and how to solve it quickly, simply, but effectively. However, you need to do it with the most serious and alert spirit!
1. Use your credit card every month
Even if credit cards are used a lot in today’s life, their intentional use (application of offers, promotions, etc.) with forced use because there is not enough money to cover the necessities. completely different weakness.
And this is probably the most obvious sign that your finances are in trouble. If it lasts too long, it will create bad habits, the debts will get worse and worse.
Solution: Stop using credit cards
This action will be difficult at first for those with large credit card debt because it will force you to tighten the basic needs in life as much as possible.
But this is the only way out to help you end credit card debt, and also help you control your spending.
2. The “ting ting” salary is not enough to warm the bag, it’s gone, no more 1 dong left
Perhaps everyone will have times like this, but if it happens often, the severe shortage of money is at an “alarming” level.
The vicious cycle of financial crisis is hard to end: borrow money – get a salary – pay off all the money and then borrow more is something that will happen to you sooner or later. And for those who are facing this situation… it seems like an income “crisis” has come to you.
Solution: Actively looking for ways to increase income
From this perspective, we may be luckier than the previous generation.
With the development of social networks and the economy, there are many types of jobs for you to choose from with all kinds of forms: from part-time to full-time. Therefore, you can completely choose to actively find another job to increase your income if you do not get a raise at your current job.
In addition, you can also invest or do more businesses to pay off consumer debt and accumulate for provisions.
3. Unable to handle emergency situations
Life is never rosy and emergency situations can strike at any time. If you are forced to use a credit card now, it may not be long before you are in a financial crisis.
Solution: Set up a reserve fund
For those who have a lot of money, setting up a reserve fund is natural and nothing to be afraid of, but for those who are in financial difficulty, saving must be really far away.
However, this is a way to help you financially secure in both normal life and when an emergency occurs.
There is an easier way to do it for you is to do everything slowly, gradually increasing over time and without forcing yourself to save like what others have done.
If you are having difficulty, you can start saving from 50k, 100k/day and then gradually increase when the income is more stable. To control and avoid this, Korean women often use “money keeping schedule” for simple and quick savings of small amounts every day. You can also try it out!
4. Confused about paying bills
If your wallet is so thin that you’re confused about which bills to pay first and which bills to pay later, you probably need to resolve the situation as quickly as possible.
Of course, everyone has to do this every month, but making sure you can pay your bills at the same time and still have an amount left over for your daily expenses is something you have to make sure you can afford. main doesn’t get bad.
Solution: Cut down the spending budget for life
Cutting the budget does not mean that you have to live a miserable life, but rather rethink how you spend money, and balance everything properly with your income.
5. No matter how hard you try, you won’t achieve your financial goals
Not to mention the big financial goals like: buying a house, buying a car or being able to achieve financial freedom, but for those who are struggling, paying off debt, saving a small amount is enough.
Solution: Break down your goals by quarter
You won’t reach your goal if your annual income is barely above the total amount you need to pay off your debts. Because you still need an account for spending more.
Breaking down your goals by quarter, without putting too much pressure on yourself to easily realize them, will bring unexpected results to you. Not to mention, it also helps you not to be overwhelmed by total debt and feel discouraged by far-fetched goals.
at Blogtuan.info – Source: Afamily.vn – Read the original article here
