In this era, there are some people take a fish us in order to take a benefit in using soft loan ( actually not soft ). Than unrealistically, we are trapped and difficult to get out. When this entice almost strangled, here are the way out :
1. Spend your saving
The theory is the total installment of debt is not more than 1/3 of salary or 30 % of the salary. The consultant always suggests us to save how big or small our salary is !The practice, you are too late twisted in debt. So on this emergency situation, you must spend your saving as the way out. Try to change monthly installment burden from the saving. After over, please try to save again.
2. Save means rich
In normal situation, you can be `extravagant`. But this time, you need realistic. To cut your outcome make you have extra money. Start to make unnecessary need list.
Find an easy alternative with the same benefit. Like to quit in fitness membership and changed by doing sport at home.
3. Owe from the debt
It looks cynical but we can do nothing. If we need it urgently to pay debt we can use that facility. But choose personal loan with low interest and without any guaranteed things. Than use to pay all debts, unless you are tempted to use more.
4. Back to `home`
This what is nice living in Indonesia , we can borrow from them without any debt. And it is nicer to negotiate how to pay it back. But remember, you have to pay it back, anyway.
5. Reduce to have a fun
This is really pain. But it is much help. Simple description, like if you drink 3 glasses of coffee everyday, reduce it only two or one. You can save the money. Don’t stop it ,anyway because it is very nice.
6. To combine sum unpaid
You can use balance transfer from the high interest credit card to a lower one. Then , close the old bill. By changing it, you can save till one million every year.
7. Extra work
If you can’t reduce the outcome. You must work extra hard. You may find side job or set up small business like selling dress and so forth.
8. To sell the asset
In emergency, you must sell your asset anyway, like a ring, TV and so on. If you don’t want to lose them , you may pawn in the pawnshop. Someday you can compensate for them.
9. Negotiation
You had better come to the creditor to reschedule it rather than being visited by debt collector. I believe they will give solution for us.
10. Pay as soon as possible
Although the deadline of your credit card is still 10 months again, you had better keep paying it immediately after receiving salary. Try to pay all credit card for not getting interest.
11. Wear horse glasses
Super market really interests us, but that is the lure. Who can pass the discount till 70 % ? . Or you may be happy seeing the catalogue of goods offering nice things. So if you think difficult you had better wear horse glasses.
12. Cut the card
Yet you have the payment of debt, but it won’t succeed if you keep adding the credit card. You must stop using it and change paying by cash. Just leave it at home or just cut it, it is over, okay ?