Saturday, September 15, 2007

Do not spend more than what you earn

It’s been my motto for quite a while now: do not spend more than what you earn. This is, I guess, the first step you should take if you want to be financially healthy, whatever that means.

Now, if you are in deep debt, I would advice for you to seek pro active actions to solve your debt problem ASAP. I would suggest you seek debt relief and credit card consolidation counseling.

Many people starts overspending on their credit cards that debt problem starts. Also, because of this problem, credit counseling has become more popular nowadays. What is it? It simply will provide you with counseling and solutions to your debt and credit card problems. For example: credit card consolidation would be adviced to people who owns many credit cards, i.e. to close all their credit card but one. This way the debt becomes more manageable. Also, the credit counseling company will help you negotiate for lower interest rates, etc.

Seeking for help would not only improve your financial health but also would enable you to avoid problems such as sleep disorders, depression, relationship problems, health risks, social issues and mental breakdown. Yes, these are some of the indirect effects of having too much debt. So?