Debt is one of the things that many people fear. Debt is the opposite of assets, where the more debt actually shows the smaller the level of one's wealth. Do you include someone whose debt is greater than your asset?
Basically, debt is not a bad thing. Debt consists of two types: Productive debt and consumptive debt. Productive debt is a debt used to finance activities that bring direct financial benefits, such as loans for venture capital. Conversely, negative debt is a debt used for activities that are consumptive, such as loans to go on vacation.
So, what if it has been owed and difficult to meet the payment of your debt? Here are 8 ways to pay off debt quickly that you can try:
1 Utilizing Coupons
Look for promotions like coupons or discount codes that will certainly help you save a little money. An example is a promo coupon traded on Groupon or Disdus or other promo coupons.
2 Stop Cable TV Usage
As information technology progresses, you can now watch the latest Hollywood shows and movies on the internet. Cable TV is no longer a necessity, but a waste of your home!
3 Avoid Eating Outside
If you have ever recorded your expenses, it is certainly very clear that almost 60% of your expenses are to meet food needs. But is it important to always eat in the restaurant or at the café? In fact, you can save a lot just by getting used to eating at home you know.
4 Stop Expensive Hobby
Do you have a hobby of collecting big motor? Or maybe a hobby watching concerts abroad? Actually having a hobby is fine, but you also need to plan the budget. Do not let all the money run out channeled solely for the sake of fulfilling that expensive hobby.
5 Stop Spoiling Kids
Children never understand and understand your financial condition. To avoid financial calamities, do not ask all your baby's requests.
6 Plan Monthly Shopping
Impulsive purchases often occur only because of hungry eyes. Hungry eyes are caused by lack of planning and budget in monthly expenditure. Begin making a list of needs and budgets to avoid wasteful and excessive monthly spending.
7 Do Not Use Credit Cards
The most common mistake a debt owner makes is to misuse a credit card. A credit card is not a magic card that pays for your entire transaction, but only short-term credit makes it easy for transactions. Stop using a credit card if you're always having trouble paying the bills.
8 Avoid Finding Reasons
When you're always looking for an excuse when the debt is not paid off, it shows that you're not ready to be debt free. To be free from debt, you need to establish yourself and stop looking for excuses. Nothing is impossible as long as you try.
That's right, we do have to put forth an effort. You have been tagged @steembloggers 30 day tag challenge.