There are simple tips that will aid you a lot in getting through your financial crisis and save your self from the impact of the global meltdown. Just use these tips and make it a habit.
1. Stop borrowing!
The answer to your money problem is definitely not to go out and borrow more money to get out of your financial crisis. Consolidation loans might help but they really only add to your troubles. Do not even contemplate signing up for anything else!
2. Hire an expert
Obviously you are not great at managing your finances so it is a good idea for you to hire a financial advisor. Lets face it, this will be the best money you have ever spent! a financial advisor can teach you how to get your debts under control and really feel in control of your own finances. No these financial professional are not just for the rich, anyone can hire an expert and benefit from their skills.
3. Expose Your Debt
Writing your debt down into a CSV in Excel is a very confronting task. It is then when you realise how deep your debt runs and it will be only then that you can do something about it. Also write down the monthly payments you need to make to pay this debt off.
4. Make your payments on time!
Why add to your debt by getting fines for late payments? No way should you give away any more money for free. Just think about it. You have worked for that money and when you pay bills late, you are just handing them extra money for free. They probably love it when people pay late.
5. Do not buy what you do not need
People often just buy stuff they do not need. Do you really need the lollies and chocolates? Why not go home and bake a big cake. That will give more people a sugar fix and is cheaper than buying a chocolate bar.
6. Spend less than you earn
The only way to get yourself out of this mess is to cut your spending right down. Then allow for your debt payments and absolutely nothing else. Gather some money on the side for emergencies and try not to live from pay check to pay check. make yourself a cushion of money to fall back on in desperate times.