Most people choose to pay in installments instead of paying in full, but is this really a good option from an economic point of view? What do the experts say?
Usually when we talk about debt installments, we think that this is the best option for those looking for financial organization, however, it is not true, because when you pay in installments, you are just prolonging it.
And for that reason, our financial tip today involves more, with regard to financial organization, for those who want to extend a loan or a portion of some material asset.
It is important to clarify the following: normally when a debt is negotiated, a new payment commitment is signed, divided into installments agreed upon during the negotiation. Therefore, in this case, the payment of the first installment, most of the time, is withdrawn in the name of the lists.
How to pay debts faster?
Folks, there is no other solution to pay debts in installments, organize yourself better by making lists. They are essential for you to reorganize your budget.
If not, you should use and abuse these lists and you can be sure: everything will be much easier! Below are some lists you can make to start negotiating debts and rebalancing yourself financially:
Experts recommend that we list everything we owe on credit cards, overdraft, booklets, bills, loans and financing, etc...
- Make a table with your monthly budget, that is, everything that enters and leaves your bank account every month. Here we teach you how to make a simple family budget.
- Come up with a list of cuts that can be made to your budget with the help of the whole family.
- List ideas to generate extra income. What can be done to supplement your budget? Anything goes: making sweets and food to sell, giving private lessons, reselling a product, etc.
Anyway, the best way if you are in debt is to list everything that can be sold: items that are not used as much as that bicycle leaning in the backyard or the guitar that has not been played for a long time.
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