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Practical advice on getting out of debts - Business - Nairaland

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Practical advice on getting out of debts by moneyxpert: 7:36pm On Jul 28, 2009
This is one question a friend posted to me, and i found out that it will do to get the answers out there to others who need it.

7 TIME-TESTED STEPS TO GET OUT OF ANY DEBTS AND BE FREE


Would you like to be debt-free?Yes,those who know a few secrets can maintain a debt-free life.like i do.Join me as i show you seven steps of coming out of any debts.
To be in debt means to owe,to be under obligation to pay back money or service to another.It is generally believed that money is never enough to satisfy people's needs,and as a result,borrowing is inevitable.That is wrong.the principle of DEBT-FREE states that you desire and go for what you need according to the amount of money readily available with you.By this principle,it is wrong to try to satisfy a need and a want in anticipation of an envisage or promised income.These time-tested steps has been time-proven to bring anyone out of debts if applied with diligence.

Get connected to God and invite him to help you:Pray to the supreme Being for his assistance,expressing your helplessness with humility in your heart and you will see him step in.
List all your debts and have a clear total figure of what you owe,starting from the least in your priority list to help you get started easier.
Don't go any deeper in more debts: Develop the habits not to buy on credits of any products or services if the cash is not readily available.some argue that they may not see such a commodity again.It is not true.the likelihood is that you might even see a better one when you are ready to pay for it.what you do not have the cash to pay,you do not need immediately.
Start reducing your debts no matter how small: This you do by paying it off little by little,one after the other,priority by it's listing from the least until you get through even with the largest of your debts.
Cut your expenses and avoid excesses:When you reduce your monthly expenses to off-set some of your debts hanging on your head,try to put a caution on yourself if possible to your appetite on the beautiful things you ought to have to be controlled until the ultimate goal,which is to come out of that loads of debts is fully attained.
Get out of debt and stay out:Never buy anything on credit no matter how badly you need it.Credit facility is good if you have the perfect know-how of it's use.But if you don't it will enslave you as well.Learn how to live within your means and develop the habits of saving 20% of your income that comes to you daily,weekly,monthly or yearly.
Get another stream of income:If you are an employee do an extra job,or start a home business.but if you are a business owner seek out another financial opportunity to earn extra income.Rich people gets richer through
investments.Most poor people or uninformed people work for other people or the government and wait until the end of the month to be paid.sometimes such salaries do not come at the time they are expected .when that happens,they naturally go a-borrowing,and end up in debts.
In mastreing these all important seven steps to continually be debt-free.pick the steps you need at a time and apply them,practice them in your daily life and you will be amazed at the results.
for more information on moneysecrets visit
http://72moneysecrets..com
Re: Practical advice on getting out of debts by MortiOnsen: 8:54pm On Feb 11, 2022
I have big loans and I don't know what to do and how to deal with them. I think the lawyers can help me. Who will develop the right strategy to quickly pay off my debts. I've heard that the best way to get out of debt is to make minimum payments on all outstanding debts, and then focus all your extra money on the smallest debt. Once it pays off, then do the next one, and so on, and so on, until you're out of debt.
Re: Practical advice on getting out of debts by dendili: 4:26pm On Feb 12, 2022
Hello. Credit problems are a very unpleasant topic for me. I just recently paid off all my debts and I am very happy. I was helped in this difficult situation by debt relief lawyers. I, like many people, was in despair and did not know what to do, but my friend told me that I need to contact lawyers and they will help me. He gave me this link https://attorneydebtfighters.com/ I contacted them and they came up with my personal strategic debt relief plan.

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