Human life is like a spinning wheel. Sometimes our lives are up but sometimes we are down. However, no matter our economic condition right now, debt must still be paid. Then, how do we pay it when economy is difficult like this and how about those who are laid off?
Below are the smart step to be able to payoff your debt:
Step 1 : INTENTION
Intention is the most important things of this 7 steps, as the saying goes "where there is intention there is a way.
Step 2 : RECORDS ALL YOUR DEBT
Keep a record all of your debts, so that you know how much you owe.
Step 3 : ASK FOR PAYMENT METHOD RELIEF
For example, installment payment in a fix amount without calculating the interest for a predetermined period.
Step 4 : MAXIMIZE 30% OF REVENUE
Use 30% of your income to pay the installments. Then, what if you have no income? or laid off from work? If you get terminated, you can combine severance pay with all your savings to pay off your debts. For your note: you must have a reserve fund 6x of your salary for your living expenses for 6 months during you look for another job after deduction of your debts. If the money is not enough, then you should sell your assets such as gold, house or land to pay off all your debt.
Step 5 : MAKE A PAYMENT SCHEDULE
Make a deal with your creditor on your debt repayment schedule and stick to it.
Step 6 : OTHER INCOME
If you get extra money from another job or maybe get an inheritance, it must be prioritized to pay off your debts so that your financial condition can recover and you can live more peacefully, free of debts.
Step 7 : DO NOT FORGET TO PRAY
Praying can give us peace of mind and with a calm mind we can solve all problems.
That's all the 7 smart steps to pay off your debt (see also the video above in Bahasa). I hope it will useful for all of you.
Comments
Post a Comment