Best-love-ever

FINANCIAL TROUBLES ??

It is frightening to see the finanacial troubles many individuals or family has found themselves in over the years for trying to catch up with the Joneses. Yeah! Mortgages, car loans, home furnishings loans, credit cards debts...did I miss any? Many of the persons in these types of predicaments don't understand the full impact of penalties, high interest charges, and other fees involved for late or non payments of their committments. And they just keep burying themselves without hope; believing that filing bankruptcy is a way out. Well my friends I have bad and good news for you. Please take your time and try and understand what I have to say very carefully.

Nothing is for free. Most times when it sounds too good to be true. It ACTUALLY is too good to be true. What that means? There is no truth in it! You are just a fish who is being bated to a hook that will grab you and never let go! Who ever is offering what seems too good to be true just wants you to be burdened for the rest of your life to them, paying accelerated interest and fines and penalties and whats not!

Imagine sometime ago I wanted to purchase a suite and did not have all the money. The bank through the merchant willingly lend me the money at 24% interest per annum. I took the loan but paid it off in full within too months. I save myself over $400 in interest. whew!

Credit card debt? Worst yet. MasterCard, Visa, Capital One, name them. Hidden conditions after you are trapped becomes their bullwhip to drain your financial blood out of your life. They beg you to take their credit cards, then when you buy a few things, interest jumps as high as 24 % too. Just imagine if your debt is $5000.00 at 24%. Good God! That is $1200 per annum in interest charges alone if you failed to make any payment on such a debt.

How can you avoid all these debts, and burdens?

Rule # 1 - buy only what you planned to buy! Everywhere are bargains knocking at your heart. It don't matter. There will always be bargains. Get a grip of your mind.

Rule # 2 - Only have one credit card. Have you ever seen some folks at POS (point of sale) in frustration trying one card after the other without success? Save yourself the emabarrassment.

Rule # 3 - Live within your means. Stop day dreaming about the lottery! If you can't afford a Lexus don't go and take it on credit. Why? Because you WILL HAVE TO PAY FOR IT! Buy a second hand car and sleep well when the night reach. Keep your blood pressure in check and avoid stress that can kill you. Don 't follow "catch-up" with Thomas, Dick and Harry! Swimming against your grain will sink you quickly. In other words. Buy what you can afford when you can afford. Do you really need all those cable channels? Do you find time to watch all those channels? If no, cancel your cable premium subscriptions and settle for the minimum or just a settle for your local channel.

Rule # 4 - Pay any debt you have as quickly as possible. In fact pay off your credit cards IMMEDIATELY!!!(within a month.) Mortgage will have to run its course. But whenever possible double, triple up your monthly payments.

Rule # 5 - Why buy a 60 inch plasma when a 19 inch will show the same news, shows, etc? Some debts are unneccessary. And some debts can be totally avoided. Buy a substitute rather than burden yourself with financial problems and woes. So always ask yourself is there a substitute? You bet there is!$100 jeans? What about $10 and $15 dollars jeans?

Rule # 6 - Save the least 10% of your wages or salaries! I have seen a friend who followed this simple rule and owns a very beautiful house today! Treat your savings as a committed expense. It is compulsory! It MUST be saved no matter what!

Rule # 7 - Give something no matter what to support the work of God. Charities. TBN. Local church. There is joy in giving. Giving is sowing. Sowing will result in reaping a harvest. It is the basic principle of sowing and reaping. Always rememberGod will provide. Trust Him.

If you follow the 7 rules given above you will save yourselves unneccessary burdens and heartaches.

Let me hear your comments! And good luck