Total US debt has hit $14.237 trillion! Watch the video to understand why the debt crisis in the US is getting more serious every passing day.
Archive for March, 2011
Life is another name for struggle. Every moment you have to struggle in this world to achieve anything of your choice. But sometimes you find yourself helpless when you have to face unforeseen emergencies in the middle of the month when your payday is far and you have no money to cover the cost of emergencies. But you need not worry about it as well because the lenders of emergency cash loans are ready to offer you loan amount on easy terms and conditions and flexible repayment options.
This is what you need most and this is only thing that will bring back smile on your face. You need not wander here and there in search of a loan lender or to visit any office to get loan amount. You just need to operate the computer with internet connection. Going online, you will find several loan lenders of emergency cash loans that will differ in their interest rates and repayment options. So you should read the loan quotes carefully so that you find the right loan lender. All these lenders have their own websites with loan quotes. Just log on the lender’s website and get fast cash to cover the cost of your emergencies.
No matter what credit score you have in your past credit history, the lenders of emergency cash loans will not even ask you to fax any document against the loan amount or to manage for the co-signer to cover the risk. This is the added benefit of these loans that there is no risk of losing property because you need not pledge anything as collateral. All the risk goes in the account of the lenders, however in exchange they charge a high interest rate to cover the risk. These loans generally offer loan amount in the range of £100 to £1500 for the reimburse period of 1 to 30 days. You also have flexible repayment options to reimburse the loan amount on time. If you find any difficulty in repaying the loan amount on its pre-determined due date, you can easily get it extended paying some extra cash to the lender.
Debt has today become a part of lives of the Americans. Most of them do not mind carrying the burden of debt. Some have become used to it while others do not care enough about it. But there is no reason why you can’t enjoy a debt-free life. If your mounting debt is taking a toll on you then read on to know how you can go about clearing your debts.
1) Start planning: This might sound simple but it is actually the most important part. Make a list of your debts and the corresponding interest on each of them. When you are planning, you should have funds set aside for your daily utilities. Make up a realistic payment plan so that it is affordable and easy for you to tackle your debts one by one.
2) Begin to save: Most of us end up spending a lot on impulse purchases. When you need to buy something, plan for it and start saving. Relying on credit cards to make purchases can just worsen you financial situation. Therefore, create a savings account and put a small amount of money every month into this account. This can also serve as your emergency fund.
3) Prepare a budget: It is very crucial to track your income and expenditure. Budget helps you to know where your money is being spent and thus can help you to weed out unnecessary expenditures. A budget will help you to remain within your financial boundaries and you will never have to worry about falling into debt.
4) Never use credit card: The simple formula for this is “If you cannot purchase with what is there in your wallet, better do not buy it at all”. Using credit card is almost a fashion statement today and people use it for almost all their purchases even if they cannot afford it. This ultimately lands them in debt. Use your cash and you will stay away from debt for good.
5) Pay your balance in full every month: If you want to stay away from debt then it is very important to pay your balances in full each month. This way you won’t be carrying any balance with you. You will never have to worry about whether you will be able to meet the minimum payment because your credit card has already been paid in full.
Modern life is expensive and it is causing a lot of people to become victims of debt. But if you are careful with your finances then you can avoid debt easily and always enjoy a debt-free life!