Debt Consolidation

Debt consolidation: what to consider before making a decision

Debt consolidation is a form of debt refinancing, which involves obtaining one loan to repay many other ones. This usually applies to individuals who are faced with the problem of consumer and personal debts to cheap short term loans providers, but sometimes it can also relate to a country’s fiscal approach to consolidating corporate debt or public debt. The consolidation process can provide a lower overall interest rate for the entire debt burden and provide the convenience of servicing only one loan or debt.

When it comes to consolidation of personal debt, people may get lost and lose their ability to make correct decisions. This article will help those who have faced the problem of accumulating different debts and the need to restrict them. (more…)

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Budget

Correct budgeting in a family does not equal cutting out all luxuries

Today we will tell you how to plan a family budget so that there is still money for everything. Have you heard of off-plan planning technology? Before you start planning your family budget and distributing money according to expense items, you need to know exactly:

1. For what period will the budget be drawn up (it can be planned for a month, quarter, year). It is most convenient to draw up a budget for one month, because most people get paid monthly.

2. What income will you have – how much money and from what sources you get for this period.

3. What expenses you will have – how much money and on what you are going to spend money during this period.

In order to know this, you must definitely start keeping a record of family finances – i.e. to fix all the money that comes (income) and leaves (expenses). What is needed for this? Nothing special, you just have to follow three very important rules. (more…)

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