Sunday, February 5, 2023
  • Home 1
  • About Us
  • Tumipro Services
  • Contact Us
Tumihub.com
Advertisement
  • Home
  • About Us
  • Tumipro Services
  • Digital Store
  • Personal Development
  • Career
  • Entrepreneurship
  • Sports
    Boxing

    Boxing; the sport of legends

    Trending Tags

    • Champions League
    • Explore Bali
    • Harbolnas
    • United Stated
    • Market Stories
    • Litecoin
  • Leadership
  • Contact Us
No Result
View All Result
Tumihub.com
  • Home
  • About Us
  • Tumipro Services
  • Digital Store
  • Personal Development
  • Career
  • Entrepreneurship
  • Sports
    Boxing

    Boxing; the sport of legends

    Trending Tags

    • Champions League
    • Explore Bali
    • Harbolnas
    • United Stated
    • Market Stories
    • Litecoin
  • Leadership
  • Contact Us
No Result
View All Result
Tumihub.com
No Result
View All Result
Home Personal Development

13 HELPFUL TIPS TO LIFE A DEBT FREE LIFE

Creators corner by Creators corner
May 17, 2021
in Personal Development
0
585
SHARES
3.2k
VIEWS
Share on FacebookShare on TwitterShare on Whatsapp

Today, it is common for many people to lose sleep because of debt.

Therefore, ideas were provided to better use credit cards on vacation, since a simple break can become a headache, if we do not know how to control our expenses intelligently.

You might also like

Understanding emotional stress and 5 ways to manage it

You lack adequate personal development if you have these symptoms

Do this! If something is working for everyone except you

Debt sometimes is good though. You heard me right. Some of the rich people you envy get to where they are right now through debt -i mean loans to sponsor a business.

The difference is they are using it to make money while some are using it to meet needs or wants.

Even if the person who gets a loan to sponsor a business lost the money because the business failed, he has gained experience through the failed business.

Some live in debt with expenses after vacations, mortgages, late payments, among others, that finally end up generating discomfort, instead of a calm and happy life.

In addition to the above, every day, it is more difficult to have credit options to cancel debts, and this is one of the reasons why many families end up selling their resources to pay debts instead of making other more important expenses, such as investing in education or the idea of ​​your own business.

On the other hand, some incur expenses greater than those they are capable of generating, and therefore, they cannot live debt-free either.

Because of this, I want to share with you a series of tips that will allow you to live a happy life free of debt.

If someone can pay up to $80,000 in debt and is now living fine because of a careful plan to live a debt-free life, why not you?

Ask yourself

TIPS FOR A DEBT FREE LIFE

  1. Analyze the number of debts: If you already have enough debts, then you can not continue to pretend that they do not exist, what is necessary is to be aware of it and develop an action plan to be able to free yourself. Calculate the exact amount of what you owe, how much interest it is generating, and write it on a sheet of paper.

2. Share with your family what is happening to you: Doing this can help you cope and relieve yourself a bit of stress since support is essential and makes the situation much easier to overcome. Some are afraid to talk about the reality of their finances, but this will only lead to you feeling more alone and with greater discomfort.

3. Get advice:
If you have no idea how to start getting out of all the debts you have, you can go to one of the institutions that offer advice, and that work without charging for it, since they are to work without profit.
Or better still, talk to a very trusted person with proved results in Money Management and offering advice.

IMPORTANT READ

  1. What have you been trying to fix? Figure it out
  2. Forex trade is not only for the rich. See why

4. Make a budget:
Since this will allow you to visualize your income, the expenses you make each month, what expenses you can reduce and how much you could reduce debts.

5. Contact the creditors:
Since this is the only way to reach an agreement, as they need to get their money back, and you need to get out of debt.
In this way, by explaining the plan you have drawn up, they may be able to reach an agreement in which you can make small payments, and they could even reduce some part of the interest.

6. Establish priorities: This means that if you have several debts, remember that the priority should be that you pay the mortgage first, instead of the expenses made with the credit card since if you do not do the first thing, you would put the having a home to live in.
Once you pay the mortgage, you can start paying off the debts that earn you higher interest.

7. Think of a savings plan:
As soon as you have gotten out of debt, since having funds will help you not to enter new debt again. Savings are essential since they can help you deal with unexpected situations.

8. Use other means of transport:
You can do this by opting for the cheapest ones for your pocket.
For example, instead of wasting an hour getting around on a bus, you can use your bicycle which, in addition to being a more ecological option, can help you reduce stress and your health in general.
If you use it, you could reduce the expenses of your account for gasoline, maintenance, taxes, among others.

9. Modify your habits: (especially when consuming):
Avoid giving in to the desire to buy things that you really cannot pay for in full, since then you will see it reflected next month in your account statements.
If you need to make a significant expense, start by planning savings a month in advance, so you can have greater support when making the purchase, without representing a debt that is impossible to pay later.

10. Avoid unnecessary expenses:
if you think about it, you will see that many times some people buy things that even after a few days they stop remembering that they have bought them, and thus they create a bad habit that does not allow their finances to stabilize, and above all which they do not have any type of control, since they end up making these expenses unconsciously.

11. Look for other options:
For example, instead of going out to eat every weekend away from home, you can get together with your family or friends at home and prepare a delicious meal in which everyone collaborates. In the same way, if you don’t have time to prepare food for your work, then prepare them on the weekend and keep them in the refrigerator, so that later you only have to heat it and avoid expenses in ordering food.

12. Choose good hobbies that do not involve heavy expenses in your finances:
For example, in a library, you can distract yourself by reading books, watching magazines, newspapers, movies, among others, as well as participating in other activities, without having to make a large expense.
Finding different and profitable hobbies can help you socialize more, and in which you can also exercise and have a good time, without representing a blow to your economy.

13. Invest a higher percentage of your income:
Now that you have settled your debts, I’ll be so selfish to not tell you to invest. Because when you invest, you get Return On Investment (ROI) every specific date signed on your agreement form, and you can use that to settle any expense which might arise unaware.

Conclusion
Remember that many times, living without debt depends on the attitude we have with money and the use that we are giving it. Being aware of our income and the expenses we make will allow us to have better control over our finances, which will allow us to live happily and calmly, free of debt.

Thanks for reading.

What did you learn? And which one is best to tackle your constant getting into debts?
Kindly share in the comment section.

Like this:

Like Loading...
Tags: creditdebitdebtfinance
Previous Post

HOW TO CREATE AN ABUNDANCE OF WEALTH WITH THE RIGHT MINDSET.

Next Post

The beauty of rejection

Creators corner

Creators corner

Related Posts

Emotional stress
Personal Development

Understanding emotional stress and 5 ways to manage it

by Tumihub Best ink
May 26, 2022
signs and symptoms of lack of personal development
Personal Development

You lack adequate personal development if you have these symptoms

by Tumihub Best ink
May 26, 2022
Creativity and personal development
Personal Development

Do this! If something is working for everyone except you

by Tumihub Best ink
May 28, 2022
Improve your leadership skills through personal development
Leadership

HOW TO IMPROVE YOUR LEADERSHIP SKILLS THROUGH PERSONAL DEVELOPMENT

by Tumihub Best ink
May 31, 2022
25 things to be grateful about
Personal Development

25 pleasures of life

by Tumihub Best ink
May 31, 2022
Next Post

The beauty of rejection

Leave a Reply Cancel reply

Recommended

Take the first step text today

The first step to personal development is

July 8, 2022
I choose me

(Short Story) I choose me! I changed my career path

May 31, 2022

Categories

  • Academics
  • Branding
  • Career
  • Career clarity
  • Entrepreneurship
  • Free events
  • Free resources
  • Leadership
  • Marketing
  • Opportunities
  • Personal Development
  • Podcast
  • Productivity
  • Sales
  • Sports
  • Spotlight
  • Stories
  • Tech and Digitals

Don't miss it

An empowerment visit to the most privileged
Free events

An empowerment visit to the most privileged

August 27, 2022
dealing with frustration
Productivity

6 ways to come out of career frustration

August 23, 2022
(Episode 3) Business lessons from a bus conductor
Podcast

(Episode 3) Business lessons from a bus conductor

August 9, 2022
(The story of Fargo) I never knew I will go far
Stories

(The story of Fargo) I never knew I will go far

August 8, 2022
study, love and earn webinar
Free events

Study, Earn and Love (Webinar)

August 19, 2022
Productivity
Productivity

Individual and Team Productivity and how to calculate productivity

July 29, 2022
Facebook Twitter Google+ Youtube Telegram Instagram LinkedIn

TumiHub

  • Home 1
  • About Us
  • Tumipro Services
  • Privacy Policy
  • Terms and Conditions
  • Affiliate Disclosure
  • Contact Us
An empowerment visit to the most privileged

An empowerment visit to the most privileged

August 27, 2022
dealing with frustration

6 ways to come out of career frustration

August 23, 2022
(Episode 3) Business lessons from a bus conductor

(Episode 3) Business lessons from a bus conductor

August 9, 2022

© 2022 SPARK DESIGNS

No Result
View All Result
  • Home
  • About Us
  • Digital Store
  • Tumipro Services
  • Spotlight
  • Podcast
  • Personal Development
  • Career
  • Entrepreneurship
  • Contact Us

© 2022 SPARK DESIGNS

Click to Chat!
#
Agent (Online)
×

We are here to help. Chat with us on WhatsApp for any queries.

%d bloggers like this: