Unless you manage your credit card debt well you are likely to pay far more than you should on the debt your incurred through credit card use. Here are some ĠEMMA tips which we suggest you follow. Often people have more than one debt on several credit cards. If this is your case, pay the…
To be financially healthy it is very important that you keep your debts to a level that you can afford. Life, unfortunately, is not a straight line. There will be moments when your financials are suffering – and you must make sure that when these moments occur you can manage your debts. To…
Can anything be done to get out of debt? The answer is yes. Here are some clever tactics to help you … List all of your debts, enter the balance that is still pending, enter the annual interest rate, and enter the required monthly payment for each debt. Repayments need to be greater or equal…
The consequences of you not paying off some debts before other debts can be serious. If you are struggling to make your repayments on time, you need to look at all your debts and split them as follows: Debt emergencies. Priority debts. Non-priority debts. What distinguishes a debt from a priority debt? Priority debts are…
Reducing Your Credit Card Debt Credit cards usually have high interest rates. There are several ways you can reduce the cost of your credit card. First and foremost use debit cards since debit cards draw money directly from your checking account when you make the purchase. Pay More than the Minimum Repayment Paying the minimum…
You are allowed to pay for credit-card purchases in two ways: full payment within a grace period of about a month, for which there is no interest fee or extended payments over a number of months, for which there are interest fees and charges. In many cases there is also an annual fee charged for…
Losing your job is stressful and places a strain on your personal finances. Even if you have received compensation from a redundancy payment, losing your job can impact your ability to keep up with your financial obligations. Having a plan in place will make a difference on your financial and emotional well-being. The very first…
Loans are an effective financial tool that helps you achieve your goals. Nevertheless, loans must be used wisely. If you are thinking about borrowing money, consider your options carefully. Types of loans There are two type of loans. The first type is a Secured Loan. A secured loan is when you offer a security in…
Debit cards Debit cards offer the convenience of a credit but work in a different way. Debit cards draw money directly from your checking account when you make the purchase. They do this by placing a hold on the amount of the purchase. Then the merchant sends in the transaction to their bank and it…
