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| How to manage your debts? |
You have taken many loans. The pressure is high from creditors. You are in tension. How to come out of this situation?
Managing your debt with cool head is the only solution. But how?
We here try to give few simple tips. Try out these things. While doing you may get 101 new ideas. You may come out of your debt trap very easily.- List out your debts in a sheet of paper.
- Write the interest you are paying on each of them
- Write down your investments in the similar format
- Compare your investments and your current earnings against the debt
- Check whether you will be able to get low cost loans against your investments to rrepay any of the existing debt?
- Come out of high cost debts like credit card bills as quickly as possible
- Mortgage loans may not trouble you much. So think about them at the end
- Think about consolidation of all the loans to make it a single account
- loans against insurance and pension funds may be an option if you are at a younger age and retirement is far away. But loan that can be taken on these at this age may be small.
Hope you can manage your debt better. Visit Smartmoney.com, a wonderful source to debt management. |
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