Posts Tagged‘debt’

5 Realistic Ways To Lower Your Debt

Whether you’re in $300 or $30,000 of debt, lowering those balances or paying them off completely should be the top priority. Debt can keep you chained to the whim of your lender(s), and just out of reach of financial flexibility and freedom. Here are five realistic ways to start lowering that debt and working towards a sustainable future. Create A Budget: And Stick To It How many times have you been in a store and thought: ”I can afford just this little thing”, and ended up spending way more money than you know you should have? A simple budget can…

Getting Out Of Debt? Watch Out For These Budget Busters

More people than ever before are in debt, and it can be very difficult to get back on an even keel. If you’ve had money problems in the past, it can be hard to get credit in the future, and making money last until the next payday can be a challenge. If you’re working to reduce the amount of money that you owe, it’s important to be aware of the budget busters which plague all of us. Remember, if your outgoings are greater than your incomings, you’re inevitably going to sink further into debt! When it comes to sensible financial…

What’s an acceptable amount of Debt?

Photo via Pixabay.com It’s hard to give an exact figure when we ask how much debt is a reasonable amount of debt to have. Of course, it depends on so many things, such as the stage of life you’re at, your salary, your outgoings, and so on. Investopedia suggests that a good rule-of-thumb to calculate a reasonable debt load is the 28/36 Rule. The rule suggests that households should spend no more than 28% of their total income on housing expenses (this would include things like mortgage payments, home insurance, and so on), and a maximum of 36% on total…