Im sure you are able to relate to this subject in some way or the other or you reading this just to be cautious
. Whatever the situation is, if you are in a financial burden, there is no meaning in getting along with it without doing something feasible or logical about it. There could be situations where you are unable to pay your monthly bills; there could be a situation where you are unable to cope up with the soaring family expenses and so on.
Instead of ignoring the current situation or just giving it a passing thought, you need to sit and work on it. If you are single sit and think about it alone and if you are married sit and think about it with your partner. Here lets think about a situation where you are burdened with your monthly bills like credit cards outstanding, loans or other personal expenses.
The foremost attention should be given to your debts; I mean your credit cards and bank loans as they charge huge interest rates and ultimately eat into your earnings putting you into a vicious circle of debt. You need to take certain steps which we would analyse below:
The biggest mistake most of you make is that you dont keep a track of your total outstanding, the interest you pay on that fearing the kind of tension and insecurity that brings in you. You tend to ignore it and jus move on by somehow paying the monthly minimum to be paid. First thing you need to prioritize today is to check the credit card outstanding and then the bank loans.
Try and see if there is any means by which you can pay it off. Check if you can sell off some immovable property or jewelry to fund it as those things you could make later. The kind of interest you pay every month on your credit cards; if you