How to Pay off Debts Correctly, Simply and Effectively
Want to learn how to never worry about money again by taking control of your money and finances? Read the whole content.
“If you are owing money with many personal loans, auto financing and credit card bills, the good news is that you are not alone in this, the goal is you get rid of them otherwise one hour or another the house will fall. ”
In the current Brazilian economic scenario, worrying about debt repayment is undoubtedly a national epidemic. The demand for personal credit and money to put an end to financial debts and debts has been increasing day by day. Even for those with a clean or negative name, there are many outstanding payments, most of these – they are looking for credit.
The latest figures from the Central Bank and the main bodies such as:
the CNC – Consumer Indebtedness and Indebtedness Survey show the total household debt in Brazil is much higher than we can imagine, are billions of reais of indebtedness that need to be paid and millions in arrears.
Yes, it is true, in recent years debts have been so linked in the lives of Brazilians, such as football and weekend beer.
– Keep reading, the information and what we propose is excellent! Let us show you how to end your debt , stay out of it and still be able to return to being a defaulting consumer with credit in the square and happy again .
But first we need to know who, time is the heroine, time is the most perverse villain.
What is debt?
Anything you owe to another person is considered debt – and this includes people loans, bank limit used, automobile credit and use of credit card etc., and also (the money you asked the co-worker to pay a quick Popsicle on the street). Financial commitments in progress, public costs such as electricity bills, water and services as it has been carried out and Internet, are not considered debts.
The last ones listed are just fixed or variable monthly expenses. The same goes for general insurance such as: life and health insurance, home insurance, bail, taxes, groceries, children’s private school and clothing.
Everything you pay to have, utilize and monthly expenses can turn into debt . If you use credit cards to pay for these expenses, it will accumulate debts if you fail to pay the light bill, ditto .
Your debt with mortgage or real estate loan is technically a type of debt, this is the only one with which you will not be able to kick, it will help you create equity. However, if you borrow more than 30% of your monthly salary for that expense, you will be limited with your other expenses for a long, long time.
To fully enjoy the benefits of a ” life without debt ” you will want to pay off all your non-mortgage debt as soon as possible. And, make sure you start first with the smallest debts going against the larger ones – it’s the famous Snowball Method.
Non-mortgage debt includes …
- Loans for Students
- Vehicle Financing
- Credit and Debit Cards
- Hospital Medical Debt
- Loans with guarantee
- Personal Loans For Negatives
- Payday loans
- IRPF, federal, state and county debt
– Remembering again. If you owe any balance to any person, company or public body – you have debt or are in debt. The first step to paying down debts is to know how much you owe and to whom you owe.
An independent study of a commercial and undisclosed partner informed Wingfield family that many Brazilians underestimate their credit card debt by about 45% (the vast majority have more than two cards) and their largest debts are with personal loans of the most various types, many with more than 30% being discounted.
This means that many Brazilians do not know how to handle debt and owe much more than they can imagine .
We understand that calculating your total debt can be intimidating and, well, scary if put on the tip of the pencil. We do not want you to register this number just so you know how much it should and gets even more worried about it.
We want you to calculate the full amount of your debt to take definitive action to end it permanently.
So if you have the courage to take the time to get rid of your debts, we’ll come up with useful tools to tell you how quickly you can afford it.
All you have to do is answer five simple questions about your own debt. Do not hide your head anymore in the litter box – it’s time to face the truth so you can do something about it !
Click here to get out of debt!
Once you know how to do this, take a deep breath and start the game! We’ll show you a proven plan that will help you repay your debt in the best possible way . Kick your debts of your life forever!
Let’s get to the point : Paying debts is never easy, no one here says this. But you can find quick, medium and long-term solutions.
We at Wingfield family are fully aware of the buzz around the thousand and one “quick ways” to get rid of your debt that are offered on the internet . In general they are more commonly disseminated and announced methods to reduce your debt – nothing more!
One of these ways that can be used is to consolidate all debts into one . But there is a doubt whether debt consolidation can actually work out.
How Does Debt Consolidation Work?
We have two full articles that explain how to unify payments to consolidate all debts and what is the consolidation of debts in practice.
Consolidating debts is basically making a new loan that combines all your debts into one payment. This sounds like a good idea until you find out that the duration of your loans can be endless, which means you will be getting into debt for much longer.
Also, the low interest rate that may seem attractive at first, however if you do not take proper care in not committing again to financial expenses and debt, the balance can generally increase over time.
In Brazil, there are many companies that negotiate, renegotiate and also debt settlement. These are the weaknesses of the financial world. The work of these companies begins when you become indebted or defaulted.
How they act …
Companies charge a fee for the service and then perform the negotiation with their lenders to reduce what you owe. Usually, they simply negotiate with your money and leave you as responsible for your debt. This is not consolidation!
Ending debt by making loans with retirement or pension
Borrowing money from banks and financiers using retirement or pension has become trivial for the Brazilian population, the facility began in 2005, and has since made payroll loan one of the most sought after and income-compromising credit products in the history of Brazil. Brazil.
Actually you have many low interest rates on the payroll, from 0.89%, however, the rebates for being made directly on the benefit, prevents the borrower from anticipating the payments to eliminate the loan sooner.
However, it is still a great way to get rid of the most expensive debts.
Ending Debt with Home Equity Loans
Home Equity is a type of loan recently explored in Brazil, it is known as credit with guarantee property. To tell you the truth, it’s never a good idea to borrow money by giving your own home as a guarantor!
You pay all your debts, of course, but you risk losing your home if you can not repay the loan on time. Having other alternatives besides this, use before!
These debt reduction strategies are at best risky and only address the symptoms of your financial problems. Work, however, does not help address the core of why you have financial problems – think of it in the first place.
Tip : You can, but do not necessarily need to consolidate, settle or borrow more to deal with your debts. You really need to learn how to change the way you get involved with your money .
That’s right – your money will never change until you change the way you use it!
And that’s why we’re here ..
We want with this review to help you through a plan where this game can be won by you. The techniques are proven and show you how to take control of your own money. You will learn:
- How to budget your money
- Living on less than earned
- Pay all debts without suffering
That’s right, without suffering, passing cravings or becoming more unhappy by not doing the things you like!
How to pay and end debt in the smart way
The best way to pay what you owe is by using a method that works.
There are several methods to eliminate debt , starting with debt reduction strategies, in which you pay the debts from the lowest to the highest, gaining momentum as each balance is paid.
We know there are a lot of teachings out there that will tell you to pay off your biggest or smallest debt, there are those who say it’s the highest interest rate first, anyway!
This really makes sense mathematically, however, personal finances are linked 80% with behavior and 20% with their knowledge. So paying debt is much more linked to your motivation than to mathematical calculations.
Here is a high-level overview of how one of the methods of paying off debts works to eliminate all of them :
- List your debts from the smallest to the largest. Just relate your debts based on the outstanding balance
- Make minimum payments on all debts, except the minor ones
- After paying the smallest debts, take the money that will be left to begin the payments of the highest
- Repeat this method until you are done with the last debt payments
Are You Ready To Start Paying Debts?
People who make some sort of plan to stay debt free usually save $ 2,100 in the first 90 days, depending on the volume of debt!
You can be the next?
You can now join the thousands of people who have already been able to pay off all their debts by learning to save money to get out of them once and for all!
Do you want to learn how to never worry about money again ? Want to take control of your money and plan your future – Start today!