A Few Ways To Remain Positive When You Have Money Troubles

Money troubles are one of the main things that seems to come up in conversation lately. I feel as though nearly everyone I talk to at the moment brings everything back to the topic of money. Forever asking how much things cost, whether or not they can afford x y & z, how little money they have or much things cost. Money issues can feel very stressful and debt can be a very worrying and scary thing. However, there are a few things to remember when it comes to money problems and I am a strong believer that things will always work out in the end, if you’re willing to put the effort it.

"Don’t Assume that you are alone – There is only one place to begin, and this is with carrying the burden of debt on your own. A lot of people are too scared to tell anyone about their situation because they are embarrassed or they are too proud and do not want to ask for help. However, you know what they say – a problem shared is a problem halved, and this is definitely the case when it comes to money matters. There is also professional assistance available to you in the form of Lexington Law Credit Repair and other companies like this. They can help you to assess your current situation so you can put together a course of action that will work for you.

Don’t Try to pay off all debts at once – This is another mistake that people make when they are trying to get out of debt. Instead, you need to focus on the most expensive debt first. This is the debt with the highest level of interest, and then move onto the next expensive debt, and so on and so forth. Needless to say, you do need to make the minimum payments on all of your accounts per month as well, though.

Don’t Close your accounts when they have been paid off – It may seem a logical move to close your credit card accounts once you have paid them off. However, when you do this, you actually have a negative impact on your credit rating. Let’s say you are £20,000 in debt. You manage to pay an amazing £10,000 off one of your credit cards. Once you have done this, you close the account. By doing this, you now owe £10,000 of £10,000 that is available to you, which is 100 per cent of your available credit, which is never good for your credit rating. If you have left the account open, you would have been using 50 per cent of the credit available to you and this would have actually had a positive impact on your score."

Remember that it will not last forever. As with most things in life, when focus, effort and time are applied, things start to become better and improve. It is easy sometimes to get transfixed on the negative, but if you can keep a positive outlook on things, everything will hopefully feel a lot better.


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