First of all, if you got here, it’s because you’re in need of a little hand, are not you? Come on! The first step to organizing your financial life quickly is to put everything on the tip of the pencil, after all, you need to be aware of your current financial situation .
Write down your income, such as salary and extra income, and all your expenses , such as water and energy, and even coffee, on a household budget worksheet . Download the spreadsheet prepared by ABS Credit.
Do not forget to consider short and long term debt . This makes it easier to identify where your money is going and what you need to do to get out of the way .
Balance your expenses
To balance your spending from now on, you need to identify what is weighing in your pocket : housing, food, subscription services (TV, telephone, internet, streaming video), leisure, superfluous, credit card, among others. Calculate how much you are spending by category.
First, cut or cut down on superfluous expenses , which undermine your budget. For example: Do you subscribe to all TV channels? It is time to reduce your plan and adapt it to your reality. At the weekend, prefer outdoor tours instead of shopping. It’s time to resist the temptation of the shop windows, at least for now.
My account is negative, now what?
If you have reached that point, know that you are not alone. The Brazilian is facing one of the biggest economic crises in its history, with high inflation, lower income and increased spending , which results in financial imbalance . Check out tips to tackle the financial crisis.
The sooner you get out of the red , the better. That’s because overdraft has one of the highest interest rates in the credit market. If overdraft is your biggest problem right now, do not waste any more time, get out of overdraft and stop paying sky-high interest. You can get by cheaper lines of credit , like personal payday loan, to pay off the debt with your bank. Learn how personal credit works and make the best decision!
Credit card issues
If the credit card bill is taking away your sleep, there is only one solution: paying the debt, in order to prevent your name from being denied to credit protection agencies (SPC / Serasa). Of course, you are facing three possible situations: open invoice, installment or minimum payment. Whatever your situation, you must solve it urgently if you want to organize your financial life once and for all.
If you do not have the money to pay the full amount of the credit card bill , please know that by paying less, you’ll get into the revolving credit . If you are already facing this moment, get rid of debt from the revolving credit, to achieve balance your financial life . Pay off your credit card debt in cash! Order your personal payday loan now and get out of the snowball.
Get Rid of Debts to Organize Financial Life
You need to pay off your outstanding debts to organize your financial life . So if you have outstanding automatic bills, invoices, or debits, arrange to pay off the outstanding bills . The ideal is to negotiate the payment of the total amount of debt with each creditor, thus, you do not have to be worrying about future pending.
If you do not have cash to pay cash, make a smart choice: opt for personal payday loan and turn all your debts into one. After all, it is easier to have only a portion to pay in the month – in this case, the loan – than several.
Do a financial planning
Planning your finances is essential to keeping your financial life more organized and avoiding problems later on. Pay your bills on time so you do not pay more expensive later. If you have plans to buy durable goods , such as car, you need to save money . Do not forget to always have a financial reserve for contingencies. With discipline and determination, you will take the challenges of financial education literally.