Many people tend to get into debt. For this reason then they do not have enough money for the month and even affect their credit rating because they do not have the amount to pay their debts. But did you know that you can take certain measures to avoid over-indebtedness?
Measures to avoid over-indebtedness:
With these four tips, you will stop being prone to falling into debts that you cannot pay, take note!
Make financial plans
Having a financial plan will help you know how much money you have, how much you can save and how much you can use to pay debts each month. To have a financial plan, you must know how much money enters and leaves your accounts, for which you will have to prepare a personal budget.
Follow a payment schedule
An easy way to get into debt is to end up paying interest on arrears. This also affects your credit rating. To prevent this from happening, what you can do is create and follow a payment schedule, not only for the services of the month (water, electricity, internet, telephone), but also your commitments that you have with financial entities.
Do not accept credits that you did not request
The operators of banks and finance companies have your number in their database, so if you are a good payer, they can tempt you by offering you a loan or card that you did not ask for. If so, do not accept it, since, as it is a loan not programmed by you, you will not know if in a few months you will have the liquidity to meet the monthly installments; In addition, you will not know if the interest rate they offer you is really convenient for you, in contrast to other offers.
Do not ask for loans to pay for others
Finally, a third tip that will help you avoid over-indebtedness is not to apply for loans to pay others, or also, not to use a credit card to pay the others. If you do this, you will enter a vicious cycle of debt and sooner or later you will end up paying higher interest that will make it difficult to pay off your debt.
Finally, we also advise you that, if you have problems of over-indebtedness, you contact specialists in financial advice, such as the team of Up to date. We have different plans that will help you get out of your financial problems, for example, My board, which is a program through which we bring together many people who, like you, seek to pay off their debt. Once gathered, each one will start saving on a monthly basis in a protected individual account; With the accumulated fund, the AlDía team will be able to manage better benefits to pay off those debts that you thought were unpayable.