Debt and being able to manage it

[Joshua Farrell]

If you're in the red, one of the best ways to get yourself on track financially is to get serious about paying down high-interest loans. But that requires a bit of strategy. Often, people don't recognize the difference between "good" debt like a mortgage or student loan, and the balances they rack up for fleeting pleasures like a trip to Disneyland.

What are you doing to help you get back on track to get out of debt?

 

[Ononivami]

You should be able to manage debt properly because debt management is very important if you are running a business with a loan and that is the basis of what you needed to succeed.

 

[Holluwaphemmy]

In my opinion I will advise that before any debt can be ventured into you have to lay down a principle on which you will be able to work on in order to have a stress-free payment of debt. I won't advise you to run into a debt without having a plan on how to pay it back.

 

[Sincerem]

The best way to avoid unnecessary debts is by avoiding unnecessary expenditure, it is not wrong to acquire a loan if you want to start a business because you can possibly pay back when your business kicks off successfully, but debts to pay for trips and vacation or the latest car is a very wrong choice.

 

[Setho]

One of the things people do not realise that usually bring them down is a high amount of interest that they usually leave accumulate which will take them years before they can be able to pay. This is why removing does high interest loans is supposed to be the first thing.

 

[Ektalakra]

It is important to manage your debt because you don't pay attention to it can even bring you on road to avoid such extreme situations you can manage your debts by using these simple ways:
1. Always pay on time.
2. Monitor your credit regularly.
3. Set your limits.

 

[glitch]

I was in debt for several years and it took me a long time to recover. Now that I am mostly out of debt, I make sure to never spend beyond my needs. I make sure that my bills are paid and I have money for essentials.

 

[HK World]

I would highly suggest avoiding debt. Work hard and try to find ways to earn an income, but avoid debt at any cost.

But, if you are in debt, then work hard to pay it back and don't spend that money carelessly.

 

[Syldan]

Debt management is very important for every business entrepreneur because I believe that is one of the strategies to make a business prosper without being affected with alot of deficits.

 

[Castelione]

I think it's important that you have plans on how you'll manage to pay the debt and make sure it's manageable for you - that you have the means to pay that debt. Make sure that you also use the money wisely (i.e. put up a business, invest cautiously, etc.). AND don't engage with unnecessary loans.

 

[Setho]

You should ensure that you are not even taking an unnecessary debt in the first place. You should also ensure that you are not going to be keeping them for a very long time and accumulating unnecessary interest.

 

[Syldan]

Debt has caused the downfall of so many business due to unnecessary and unproductive form of borrowing to which much of the company income are being used in servicing such loan.

 

[joy101]

The best way to avoid debt is to learn how you can spend unnecessarily in order not to enter into debit, especially when going into business you should plan on how you should avoid debt.

 

[Setho]

The best way to avoid debt is to learn how you can spend unnecessarily in order not to enter into debit, especially when going into business you should plan on how you should avoid debt.

This is busy palladium most important that significant in that area that in is just trying to explain . You are going to have a better financial life if you reduce the amount of money you spend and increase the amount of money you make.

 

[Lens]

It is not really easy to manage bad debt because I've fallen into one and it was so difficult for me to cope. My offline business wasn't going well because I was robbed consecutively.

 

[Good-Person]

The best way to avoid unnecessary debts is by avoiding unnecessary expenditure, it is not wrong to acquire a loan if you want to start a business because you can possibly pay back when your business kicks off successfully, but debts to pay for trips and vacation or the latest car is a very wrong choice.

Managing debt could be a very hard thing to do. This is because debts are not an easy thing to handle and this is the main reason why I tend to always avoid debts in the first place by not borrowing money that I cannot pay back.

 

[Sincerem]

Managing debt could be a very hard thing to do. This is because debts are not an easy thing to handle and this is the main reason why I tend to always avoid debts in the first place by not borrowing money that I cannot pay back.

You are not avoiding it more than me. For me I try all possible means to make sure I don't get money to do anything. if I don't have money to do anything I will let it be. You mean you haven't borrowed money before ?

 

[Good-Person]

You are not avoiding it more than me. For me I try all possible means to make sure I don't get money to do anything. if I don't have money to do anything I will let it be. You mean you haven't borrowed money before ?

I always try to avoid debt. When it comes to borrowing money, I merely borrow $5 in case of emergency only. My financial conditions are really bad and borrowing a huge amount of money have a bad effect on my finances.

 

[tyrim88]

In my opinion I will advise that before any debt can be ventured into you have to lay down a principle on which you will be able to work on in order to have a stress-free payment of debt. I won't advise you to run into a debt without having a plan on how to pay it back.

One of the things about running a business is that there will come a time in the life of the business that it will be very imminent to take a loan and fund your business prospect,but there shuld be a laid out plan from the business on how to repay back.

 

[Sincerem]

I always try to avoid debt. When it comes to borrowing money, I merely borrow $5 in case of emergency only. My financial conditions are really bad and borrowing a huge amount of money have a bad effect on my finances.

Sometimes a lot of people maybe drive into borrowing of money because they are not able to manage the little resources they have. Normally to avoid borrowing completely , we just need discipline and perfect ability to manage the little funds and make the best out of it