In the post-COVID period, many people may be stressed. Faced with many financial problems and debt problems that are still overwhelming where will the monthly expenses that Moringa come together? How do get started in solving the problem?
1. Take note of income and expenses. and various debt accounts came out
First of all, we have to be mindful and take note of the income and expenses to see what items we have. how much is the income What is the expenditure? How much is the interest burden paid per month? to see which liabilities can be managed first And which interest is the highest interest that we can bring to the bank? to negotiate in negotiating debt repayment or requesting to reduce the interest rate according to the government’s various aid measures This can be done by watching programs and reducing unnecessary expenses. or increase income in another way to be used as support in clearing debt one by one May start from debt with the most expensive interest is informal debt or credit card debt.
2. Negotiate interest and principal with various financial institutions
If it’s home debt, car debt, these debts, let’s see if we can handle it. If it still works, gradually clear one side Request to negotiate with creditors in principle Let us call to negotiate a reduction in interest to enter the process of debt suspension or debt restructuring. The bank is happy to give advice even if it is difficult to call. at least so as not to become bad debts If we can negotiate a total reduction of interest and gradually pay back the principal debt according to the estimated power But if you really can’t cut off because we have to clear out unnecessary debts one by one. considered to alleviate the burden Cut off the malignant pieces one by one. To keep the good meat to survive first. Then find a public transport to sit first. During this period, may work from home mainly without paying any travel expenses. As for the house that still has to rest. It’s time to look at the ability to pay off a debt to see if the cash flow we have is enough to pay for how many months. If it’s not enough, can we negotiate a payment period? or need to increase income in another way
3. Another way to earn extra income from individual expertise
Then try to find a way to earn extra income. by looking at what we specialize in And what knowledge do we have? took the knowledge and expertise to further increase to create another way of income may start from something small that uses little capital and try to do it regularly to add a way of earning money because the size of the expenditure is still unknown Why do we have to limit our income to only one way?
From this event we know that Don’t buy unnecessary things. Because one day we may have to sell the necessary things. It’s time to explore your debt burden to manage your worries. Pay off debt one piece at a time until the end of the debt burden. because in the end, We have learned that “No debt is a great fortune”
