We have always heard that Brazilian families spend more than they earn, they accumulate debt and the level of default only increases. We see credit advertisements without consulting the NPC and Sasara, quick and easy money even for those who have cadastral restrictions. But, does that even solve the problem and help put your financial life in order? Follow the post today and see some tips to get out of debt once and for all!
Make a list of expenses
Yes, this is the most difficult time of all, but it is the starting point to get out of the hole. So, courage! Start by listing all the debts and make a separate spreadsheet with all your fixed expenses, including bills like water, electricity, telephone and internet. Even in those cases where the variation is small, it is possible to make some savings.
Escape high interest rates
Now that you have a sense of debt size, start by setting priorities. The first is to avoid high interest rates. If you have multiple loans and credit cards, prioritize the payment of those who hold the highest interest.
If possible, always pay the total of the card’s invoices – the card’s interest rate exceeds 400% per year. If you do not have the money, consider making a smaller interest loan to pay off the debt and leave it all in one place. Usually, in these cases, payroll loans are the best alternative, followed by personal credit.
Also avoid the limit of the overdraft, which charges interest of more than 250% per year. This credit should only be used in case of emergencies but, unfortunately, what is perceived is that people understand that it is part of their income and end up paying interest interest back each time the pay falls on the account.
Write down everything you spend
It may seem exaggerated, but it is not! If your goal is to beat the debts, jotting down any money that comes out should be part of your routine. Nowadays, there are many simple alternatives to create this habit. If you do not use your computer when you come home to play the data on a spreadsheet, you certainly have a smartphone and can download an application to control expenses. Otherwise, a good notebook does the job.
Do you have more than one credit card? Try to unify the accounts on a single card. It’s best if you’re scared of spending already earlier in the month and increase the economy to see only with the closed invoice.
You can achieve impressive results with small savings. Make it a habit to leave the television off when you are at the computer, do not delay in the shower and repair leaks. Take this as a challenge and keep monthly small savings in consumer accounts. You will see significant results throughout the months!
Escape from the parceling
Perhaps one of the main villains of the cards’ priceless bills are the installments. They give the false idea that you did not spend that much. When you realize it, you have multiple bills in installments of very small amounts, but which together add up to a very high proportion.
To escape this trap, every time you want to buy something more expensive, calculate the installment and deposit the amount monthly in a savings. When you have the full amount, make the purchase in cash.
Make a real war on debt and, with these habits, do not let the situation reach a critical point again. Do you have other tips for getting out of debt? Would you like to share with us? Tell other readers by comments!