Talking about debts which piling up so much, make the feeling so much depressed. Meanwhile, according to a plan, you have to save some money aside to anticipate the unexpected (emergency fund), invest for the future, buy insurance, and prepare to retire, but right now, it is difficult because nearly half of your income used to pay debt that never ended. What you have to do?

Here, I will give seven tips that will help you in solving the debt problem.

Stop adding your credit card
Debt problem becomes lighter at the start of these basic but necessary steps. Do you know the main cause of people using this cards is because that card in his wallet, which easily removed and used? Try to leave it at home and keep refrigerated, frozen together with water into deposits that are difficult to use unless you surely must make every effort melt the ice that is imprison yours. This means you have closed one entry to the ease of using credit cards.

Reduce the amount of your cards
You do not need more than two. Every time new offers, the bank will seduce you with praise you as a customer choice and so on but, when you are in trouble, not praise you get but the problem with the bank. Be careful in accepting their offers, if you do not want to defend yourself to say no. By limiting the amount of your credit, you also limit the amount of debt you owe and your freedom. If it is too large, then the limit will restrict your movement. Do not get your limit because you will have to pay a higher interest rate again.

Create a monthly budget
Record your expenses and income every month. Make your income is sufficient for one month without having to use them anymore. Then create a budget for one year based on data preceding months. If there is a surplus, plan to distribute it in 12 months as an additional payment of your mortgage debt, and if the budget deficit, then you must rearrange in order to be sufficient.

Pay more than a minimum payment
Do you know why the bank sets extremely low minimum payments for credit cards? In fact, if you do so, you only continue to pay interest only for bank earnings, while the bill is gradually reduced. It took several months to pay off your billing, if you pay the minimum amount. Once there are more funds, promptly pay to reduce your debt and paid in a fixed amount, as if you pay a monthly payment that has not changed.

Pay the highest interest, and it's balance, and then transfers your debt to a card that has low-interest rates
Today because of competition, some of the credit card issuers compete in terms of interest and annual dues exemption. Take advantage of reducing your interest burden, but do not add one again. Move and cover high-interest. For Example, if you have relatives, you may request the help of interest-free loans to them to pay off your debts, and you return it in installments.

Have a target time of expiration of your realistic debt, and stuck to your plan
Have the strength of a debt that you understand when you have to end. To realize is your debt problems may not completed by overnight, but it will certainly end up with time. So, keep the spirit and optimistic and enjoy the process.

Create savings plan
Without the savings plan, you know that if your debt settlement plan failed then you cannot go up to the next level. i.e. saving and investing. The longer you put off investing and saving money, getting in your financial problems. For this, you could use the help of financial software to make comprehensible calculations for you, or you can also browse more articles about financial reviews. financial reviews.