Mar 8, 2009

Peace With Debt

Difficulties of financial problems (known as debt), either in control or not, at this time often occurs and can potentially damage the financial stability of families. Many people still believe that debt is a negative thing or case.Although the debt is not necessarily bad as long as you can manage it. Financial planning especially in the debt problem is needed.

The things you needs before you took the loan :

  1. Know your financial ability, important to note that the loan that you can take is 35% of your net earnings.
  2. Spare the reserve fund, the large of reserve fund you should prepared at least three times of your earnings.
  3. Change your life style, arrange your monthly finances wisely, do the smart  monthly shopping.
Debt can be seen from the 2 elements, the good elements and bad elements. 


The good debt is debt in the long term that will give the result from the debt that you take for example, you owe money to  to buy the shop. And in the next few months you can then directly rent it, you get out of debt that you do. better results when the rent can be greater than the amount of the monthly repayments and capital base. Thus the end of the credits you get the value of productive assets that generate regular income for your financial.

The  bad debt is debt with high interest rate and to buy assests that are not productive, examples are invidu debt or personal loans (buy the things who can give a money value)

The successful key to manage the debt is carefully selecting the priority needs. Specified for the purpose of what you owe. Don't be afraid to owe as long as you know what to do with it and smart in manage your financial. Use you owe to something who useful and worth for your financial.

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