Know when to ask for help

Do you know when you need help ? I think most of us dunno when our finance is in dangerous zone. We must aware and need help when :-

  • – Are you living paycheck to paycheck with no money going into savings?
  • – Are you alternating which bills to pay each month, leaving some unpaid?
  • – Are you late making payments?
  • – Are you using one credit card to make the payments on another?
  • – Do you have creditors calling you?
  • – Are you being denied credit?

If the answer is ‘yes’ then you need to :-

Take responsibility

  • – Review your budget and make changes where necessary
  • – Increase your income
  • – Decrease your spending
  • – Contact your creditors. They may be willing to work with you. Some may agree to lower your interest rate and/or waive fees if you ask.
  • – Look into debt consolidation, carefully weighing the prons and cons.
  • – Look for creative ways to change your financial situation.

Ask for help from

  • – Financial planners. Many banking institutions have financial planners who may assist in finding ways to begin planning and saving for the future.
  • – Consumer credit counseling services. If you are unable to pay your bills, these organizations will assist and work with you and your creditors to help reduce monthly payments and often eliminate portions of your debt. Choose a nonprofit organization, examine fees and the pros and cons of using these service.

Remember , a lot of money doesn’t necessarily unlock the door to financial freedom. The key is found when you manage what money you do have well..

Source :- Mapping Your Future

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