Hai dear,
To find out if you too much in debt, use a ratio of below that compare the ratio of your monthly income with housing loans, credit card payments and loan installment of your vehicle.
You must remember that the creditor will always refer to income ratio/your debt to ensure your financial position. Therefore always control your income and debts with the following tips:
Borrow prudently
Don't borrow more than you can afford with your income. If you calculate the
your level of financial capability, don't forget to include the additional costs that might be.
For example if you want to buy a car, you also need to take into account expenses for fuel,
toll fees and maintenance.
Manage your credit cards wisely
Try to explain your balance every month to avoid interest bearing. Credit card interest charges
often higher than other types of loans.
Reduce your debt
Try to reduce the amount of your debt if you have extra money to reduce interest charges.
Use the bill payment method automatically
Do you want automatic payment so that the facilities your bills are always paid on time.
Budget
Set up a budget and berbelanjalah according to the plan.
Start saving
Start your savings plan to reduce the need to borrow for any purchase
small. This savings plan is also useful during emergency or distress, such as to accommodate
your life if you lose your job.
Thank to read..
