Quick Guide for Debt Relievers

Purchasing installments, credit card expenses, unforeseen expenses that require urgent expenses are just a few of the procedures that can end up in debt. The fault is not only of high prices and of expensive interest. The lack of money and, especially, of organization is what leaves many people in the network.

If you have not planned well and are now full of debts that need to be paid, it’s time to reverse the situation. Gather all accounts, prioritize them with greater interest and greater importance and cut spending to get the debts off.

For those who are “in the grip”, it seems like a huge effort to organize that money that is never left at the end of the month. The secret to debt relief and to stop being a debtor is to make a plan that meets your needs, be patient and be disciplined with your finances. For you to get organized and get rid of debts in an efficient way, we have prepared a quick guide that will help you get out of the network quickly. Follow our steps and reduce your debt!

Organize all your expenses

Organize all your expenses

You are probably in debt because you acquired something without having sufficient funds to make the purchase in question. Keep an eye on your balance and your expenses to know how much you have and how much you can spend. This is the first step for those who want to save, avoiding new debts and making outstanding payments possible.

Use an expense spreadsheet or an online tool, such as Ally Guider. This allows you to organize your month’s expenses into categories and set what can be more clearly defined. Initially, it is very common to think that you do not have expendable expenses, but saving is always possible, believe me. For example, you can talk less to your cell phone, make more meals at home, or trade the brands of products you usually buy for cheaper ones. That way, you will have extra cash at the end of the month, which will be used to repay the installments of your debt.

Define how much you want to book per month

Define how much you want to book per month

With the expenses organized, it is easier to define how much of your money will be used to pay the debts. For more accurate planning with respect to values, you can also stipulate how long you want to take them off.

Look for ways to make more money

Look for ways to make more money

If you can, try doing overtime at work or even get some freelance work. Measures like this will make you more tired, but with more money in the account, think about it. It’s a squeeze now, for a huge benefit in the future.

Another way to increase your balance is to undo things that you no longer use. Clothing, electronics and whatever is in good condition can be sold. You can organize to the bazaar or, what is easier, sell online. Search for websites specialized in exchanging and selling used items, they have a lot of visibility nowadays.

Do not make any more loans

Do not make any more loans

It is very important to understand that to save considerable sums, you have to strive. Even if you have already paid the outstanding portion of the month, do not quit wasting around. Set aside your credit card, installments, always pay cash and spend only what is strictly necessary. At present, your goal is to reduce expenses.

Prioritize the payment of debts with greater interest and importance

Prioritize the payment of debts with greater interest and importance

By analyzing your accounts, give preference to those that charge the highest interest (if you do not know which ones, you need to figure out!) And those are of the highest importance: will be cut in case of lack of payment.

Renegotiate your debts

You can raise money to pay a larger number of installments and ask for a discount on the interest rate or even offer a cash value to settle the debt right away.

If the debt you incur has very high interest rates or installments that make it difficult to process the payment process, talk to your manager and ask about the possibility of exchanging it for a loan with lower interest rates or renegotiating it to define installments that fit in your pocket

Be disciplined

To put our guide’s tips into practice and get rid of debts, having discipline is essential. Understand that the change in financial routine is temporary. The upside is that you now know how to handle money and will not make the same mistakes. Getting out of the network requires total commitment on your part, do not be discouraged!

Ally Guider wants to be your main ally in this process, we want you to use and abuse our financial control system to achieve your goal to get out of the red once and for all!

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