When you have a family, for example, three children, your expenses can be hard to control. All you want is to give your children a little more than you yourself as a child. Thus, even receiving a steady income, along with government support, you may find that you live beyond your means, month after month. And in the end get six numbers in debt. In such a situation, you need to gain a huge amount of determination and for several years to firmly tighten the belts, and then you can answer the question how to pay off the debt, with a sum of more than 100 thousand rubles.
How does a person get into this situation?
As a rule, he tries to live, as they say, “in step with the times”, to live, like all those around him. The usual additional expenses for the New Year and birthdays. In addition, you always want the house to have new clothes and shoes at the beginning of each school year. To this is not rarely added unexpected spending on car repair or treatment.
The first loan may seem insignificant. For example, at the birth of a new child, you needed furniture, a check for which you cannot pay here and now. And now, after five years, you have several loans totaling more than 100 thousand. Then personal loans are added, it is necessary to take a loan to close other loans, and as a result, the debt grows to 200,000 rubles or even more.
When the question arises, how to pay off the debt?
Many people do not even know how much they owe money to banks and / or the state. They know the approximate monthly payment and live from paycheck to paycheck. In this situation, you need a push from the outside, a positive example that will make you think about your financial situation. Most often, middle-aged people have to pay for their mistakes in their youth. For example, a few years ago you took advantage of the “profitable” offer and bought a good, big car, which costs more by itself and gets “a lot of money” in service. With age, as a rule, expenses only increase and, at the same time, nobody canceled old payments on car loans, overdue payments appear and the amount of debt does not decrease, if it does not increase.
It's time to think carefully about your financial situation. On the example of a big car, think about whether you really need a huge car. If you do not cope with its service, it's time to change it to less expensive, both in cost and maintenance. This will be your first step forward, further healthy financial habits will begin to appear, and the question of how to pay off the debt will disappear.
How to get out of a difficult situation?
In our blog, in the “Personal Budget” section there are many articles on how to properly control your household money. In this article we want to write in numbers a method with envelopes. So, take the average income per family - 50,000 rubles. The first thing to do with a monthly salary is to allocate the amount you need to spend on repaying the debt. Every month you need to pay 20,000 rubles in debt. This does not mean that after 10 months debts will dissolve, because when it comes to loans and borrowings, you need to pay interest on them.
Cost Sharing Envelopes
All other incomes are permanent and additional are laid out in envelopes. Here it is important to understand that the debt on housing and communal services and the payment of regular receipts are different items of expenditure. We have already separated all debts separately. By the way, they can also be divided into different envelopes in order not to miss anything. You can have as many envelopes for everyday needs. You can organize a separate envelope for food, for eating out, for spending on clothing, household chemicals, and so on.
It is very important not to mix the contents of the envelopes. If you spent all the money prepared for fast food, then it's time to make sandwiches at home and take them with you. And next month, review their spending on this item of expenditure. When puzzled by the question of how to repay a debt, a person should always be attentive and watch his actions. This will be helped by the fact that when you use the “envelope” method, cash becomes your payment tool. It has already been proved by psychologists that it is more difficult for a person to part with banknotes than with numbers on a credit card when he is in the savings stage.
Of course, it will be useful to write in a notebook every time you spend money. So you can predict your budget in advance and see its weaknesses. You can mark different expenses in the calendar with different colors to see where expenses need to be increased and where they can be reduced. Do an audit, find out how much you spend on cable TV, Internet and telephony. Perhaps there are more favorable rates for you. Teach your children not to spend money every time they want. They should know, like you, that you only need to buy the necessary things for the family and products.
The first thing you need to do is understand what situation you are in and evaluate your finances. Then you need to develop a specific plan and follow it responsibly. In the early stages, the numbers may scare you, the most difficult will be the first two - three months. The main thing is to follow your goal and firmly believe in yourself.