Money Spending
Money Spending You know you have an money spending problem if any of the following apply to you...
Check if the organisation is of charitable status and the advice is truly independent.
These people give sound practical advice on how to resolve money spending problems.
A Cautionary note: If you are asked to pay a fee, restructure debts or take on a remortage that advice may not be in your best interest, someone is selling you their product and not helping you with your money spending problem.
A restructured debt is the same debt over a longer time, getting you into more debt not lest! Money Spending Problems Can Lead To Serious Debt I have noticed that there is a lot of advice about paying off debt with the high interest first and even some advocating the paying off debt with lowest interest first.
I suggest that both are flawed.
The debt with the highest interest has not necessarily got a percentage after it.
What you must pay off is the debt that can cause you the most harm if it remains unpaid and that could extract a frightening non-monitory interest.
If you do not pay your rent or mortgage you could be evicted from your home.
Moneylenders can, via County Court Judgements apply for an order for Bailiffs to take your possessions and sell them to recover any defaulted payments.
Prison sentences can be handed out for not paying income tax, council tax, and child support.
If your money spending problems have caused you to borrowed money from less reputable sources you can be threatened with violence or suffer actual violence if you fail to meet their payments.
Control Your Money Spending Problems Checklist Recognise you have a problem and get independent professional advice.
Stop spending money! If you are in a hole stop digging! Avoid the shops, people and events where you know that you will just have to spend a pile.
I suspect you have no desire to become a hermit! If it is something you must do then practice some restraint.
Work at eliminating the debt that is contributing the most to the problem or can cause you the most harm.
Practice controlled and healthy money spending habits.
Plan what you are going to spend and work to a budget.
Use cash not credit cards.
Look for alternative means of adding to your income.
More money means more to resolve the debt quicker not more to increase your money spending.
- You use credit cards or loans to buy essential items such as food.
- You worry, cannot sleep or show other signs of stress caused by your financial situation.
- You fret over opening the mail as it may contain demands from your creditors or bank.
- After you have paid all your creditors and expenses you can only afford to pay the minimum payments on your credit card.
- You have more than one credit card.
- Your credit cards are often near or at your spending limit.
- Credit cards get declined and cheques bounce.
- You have to time putting in cheque payments hoping that they will not be presented before the next payday.
- If you have a minor financial emergency you would need to borrow money to resolve it.
- You have no savings, investments or other assets.
or You lie and otherwise deceive friends and loved ones about your money spending habits and financial situation.
Check if the organisation is of charitable status and the advice is truly independent.
These people give sound practical advice on how to resolve money spending problems.
A Cautionary note: If you are asked to pay a fee, restructure debts or take on a remortage that advice may not be in your best interest, someone is selling you their product and not helping you with your money spending problem.
A restructured debt is the same debt over a longer time, getting you into more debt not lest! Money Spending Problems Can Lead To Serious Debt I have noticed that there is a lot of advice about paying off debt with the high interest first and even some advocating the paying off debt with lowest interest first.
I suggest that both are flawed.
The debt with the highest interest has not necessarily got a percentage after it.
What you must pay off is the debt that can cause you the most harm if it remains unpaid and that could extract a frightening non-monitory interest.
If you do not pay your rent or mortgage you could be evicted from your home.
Moneylenders can, via County Court Judgements apply for an order for Bailiffs to take your possessions and sell them to recover any defaulted payments.
Prison sentences can be handed out for not paying income tax, council tax, and child support.
If your money spending problems have caused you to borrowed money from less reputable sources you can be threatened with violence or suffer actual violence if you fail to meet their payments.
Control Your Money Spending Problems Checklist Recognise you have a problem and get independent professional advice.
Stop spending money! If you are in a hole stop digging! Avoid the shops, people and events where you know that you will just have to spend a pile.
I suspect you have no desire to become a hermit! If it is something you must do then practice some restraint.
Work at eliminating the debt that is contributing the most to the problem or can cause you the most harm.
Practice controlled and healthy money spending habits.
Plan what you are going to spend and work to a budget.
Use cash not credit cards.
Look for alternative means of adding to your income.
More money means more to resolve the debt quicker not more to increase your money spending.
