These days of bail outs, political posturing, and shaky credit markets can make a person quite anxious about how they are doing financially. With all the winds of change, there are still some constants upon which we can rely. One of those constants is the benefit we enjoy from reducing debt.
Debt is something which, if left alone to grow, can negatively impact the kind of service we, as people helper, are able to provide to others in need. Here are a few ideas for dealing with debt:
- Track your money. Know how much you have and how much income you can reasonably expect in the near future. Know what your monthly expenses are and what you have left to pay creditors.
- Save before you borrow. The best time to charge is when you really could pay cash. Although that’s not always possible, it is possible to build a money reserve that can cover several months’ expenses if you run into financial problems.
- Investigate before you borrow. Look at borrowing as “buying money”. Comparison shop to find the best money bargain available whether you’re shopping for money through a bank, a finance company, or applying for a new credit card.
These 3 ideas are just a few of the complete list you can find at Money Management Tips. Check it out.
Keep debt from ruining your ability to Serve Strong!
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