If the debt in the form of a credit card, in accordance with the provisions, minimum payment is 10 percent of the final balance. If you are in a difficult condition to pay the minimum amount, could have filed a request leniency in the bank. But, usually this will take time and may not be approved. Because, in principle, whose name the debt must be paid in accordance with the agreement that you agreed with the bank.

Advice from me, problem analysis what happened so that you cannot pay the minimum amount. If the problem is permanent, such as losing a job, then you should apply to credit card balances converted into credit without collateral.

In other words, you make new loans without collateral, credit schemes, and then the loan is paid to pay off credit cards. Now, the credit in the form of loans without collateral magnitude usually has a smaller mortgage, but fixed. So, when it agrees with a certain number of installments, the installments must be paid that much, not less and not more. (more…)

We have been raised with certain way of thinking that we need to save money for our better future. The more we keep our money the safer our life is. Then until one of great business from Hawaii publicly breaks up that mythology and simply reverses couples of old ideas. Stating that we should invest not save, makes the money works for us not work for money, and so on. Both are actually true, we still have to safe money; in case that our investment gone badly and we need to save more money for investing. (more…)

Make a budget and get out of debt you need to do seriously. Once you get out of debt credit card or other short-term debt which is not an investment, then you can start trying some of the following practical steps:

*  Reserve Money
Always have the financial reserves of at least six months of income. This reserve could be a savings or other investments easily redeemable if needed immediately. If the situation changes, for example, you get fired, and then you will have enough money for at least six months while you apply for a new job. Conversely, if you salary get a raise, saving half of the salary. (more…)

Many people think that loans can be a form of debt finance solutions. However, uncontrolled debt can derail your efforts to live according to your income.

Certain types of debts can be an asset. For example the long-term debt for the purchase of assets such as houses continue to increase in value can be useful. In contrast, credit card debt used to finance day-to-day lives can be disastrous. Hold to the principle not to pay even a dollar of interest expense or credit card. It is a credit card can ease your life, but always be careful when using it. (more…)