Clear your debts

Starmix · Jan 8, 2024

If you want to live in financial freedom, the first thing to do is clear your debts. Debts give headaches and cause too much stress in thinking about how to get rid of them. Well, the advice of some financial advisors and busenss owners is to work double and find a part-time job online or offline and make sure to spend the money on your debts. You also need lots of discipline, self-control and endurance. As soon as you pay off all your debts, save more and invest more to avoid living in financial struggles. The worst of all is never to allow yourself to live broke.

Alberello75 · Jan 8, 2024

I agree. In my opinion, it would be better to avoid debts, but sometimes unfortunately some circumstances that happen in our lives could force us to borrow money, unfortunately nowadays with high interest rates! However, I believe that when the opportunity arises, these debts must be extinct, because as we know they also represent an enormous burden also in terms of stress.

Starmix · Jan 8, 2024

Having debts is indeed a worrisome. We feel diffused thinking where to get the payment for s particular month when the salary is still not available. It's better to pay double monthly if ever feasible to end the struggles paying with high interest especially if it's from the bank.

nomad · Jan 8, 2024

Whether you want to save money, invest money, buy properties, or become financially secure, the first step to do that is by paying off your debt. Unless you pay your debt, it is not possible to build your financial health

Stardom22 · Jan 8, 2024

For me l have tried to clear up my debts oftenly in vain. Whenever l clear my loans there's always the need for taking another one for the last time.

Starmix · Jan 9, 2024

To loan is not a crime. One could be thankful for having an agency that provides loans for the people in the community. In my place, there are also loaners and they surrender their ATM card collateral and get only the change,

eldavis · Jan 11, 2024

Sometimes I wonder how people who have debts to pay ever live peacefully. Most of them would not even be willing to pay at all. The moment I know I have something I need to pay, my mind won't be at rest no matter what I do.

Starmix · Jan 12, 2024

Alberello75 said:
I agree. In my opinion, it would be better to avoid debts, but sometimes unfortunately some circumstances that happen in our lives could force us to borrow money, unfortunately nowadays with high interest rates! However, I believe that when the opportunity arises, these debts must be extinct, because as we know they also represent an enormous burden also in terms of stress.

You are so right, there are times that we cannot avoid borrowing money from a personal person or to a bank. If borrow money in the bank, there are many requirements and if loan in a private agency, you are required to surrender the ATM. They are the ones to withdraw the money and return only the remaining which is very shameful

Alberello75 · Jan 15, 2024

Starmix said:
You are so right, there are times that we cannot avoid borrowing money from a personal person or to a bank. If borrow money in the bank, there are many requirements and if loan in a private agency, you are required to surrender the ATM. They are the ones to withdraw the money and return only the remaining which is very shameful

You are absolutely right, dearest friend. Furthermore, as you may know, in recent years, for EU Member Countries such as Italy, the European Central Bank has significantly increased the interest rate to be paid in the case of a loan from a dealership. Basically, for those who had to repay a loan monthly, the installment in certain cases almost doubled!

Starmix · Jan 15, 2024

Alberello75 said:
You are absolutely right, dearest friend. Furthermore, as you may know, in recent years, for EU Member Countries such as Italy, the European Central Bank has significantly increased the interest rate to be paid in the case of a loan from a dealership. Basically, for those who had to repay a loan monthly, the installment in certain cases almost doubled!

That's horrible, how could the borrower breath well with double charging. That's inhuman. That made Italy tier 1 country. Your government is very strict regarding money matters. It's better, if only not to borrow money or apply for a loan.

Alberello75 · Jan 16, 2024

Starmix said:
That's horrible, how could the borrower breath well with double charging. That's inhuman. That made Italy tier 1 country. Your government is very strict regarding money matters. It's better, if only not to borrow money or apply for a loan.

You see, but as I repeat, Italy, which is part of the European Union, has our own Government, but after all, for some decisions, especially those relating to the economy, Italy must also accept those taken precisely by the Headquarters of European Government.

AmazingJob · Jan 16, 2024

I agree, best is to avoid debts. If we are earning just the minimum, then live within what we are earning. We can look for a side hustle jobs in between idle time, we can earn extra and will go to savings.

Starmix · Jan 16, 2024

Alberello75 said:
You see, but as I repeat, Italy, which is part of the European Union, has our own Government, but after all, for some decisions, especially those relating to the economy, Italy must also accept those taken precisely by the Headquarters of European Government.

If only your government abides by that, there will be fewer problems in the economy per se. There is nothing you can do, except manage your own with the help of the entire family members. I hope you are well my friend.

Alberello75 · Jan 18, 2024

Starmix said:
If only your government abides by that, there will be fewer problems in the economy per se. There is nothing you can do, except manage your own with the help of the entire family members. I hope you are well my friend.

My dearest friend, you have to know that I don't have no money invested, just what the Government gives me cause my really disability allowance, as you can see in this image taken from my pension slip.
i'm a poor one my dear...

Starmix · Jan 18, 2024

Alberello75 said:
My dearest friend, you have to know that I don't have no money invested, just what the Government gives me cause my really disability allowance, as you can see in this image taken from my pension slip.
i'm a poor one my dear...
View attachment 2452

Don't take it personally, it is just a discussion, my friend. You must be thankful to the government for giving you such a big pension. In my country, disabled persons receive nothing from the government. Only the family and the relatives help their disabled family member or relatives .You are still lucky my drwrest friend.

Alberello75 · Jan 18, 2024

Starmix said:
Don't take it personally, it is just a discussion, my friend. You must be thankful to the government for giving you such a big pension. In my country, disabled persons receive nothing from the government. Only the family and the relatives help their disabled family member or relatives .You are still lucky my drwrest friend.

I see but I'm sorry, what do you think is possible to do in your country (which however has a different currency) with €343 a month? Well, In Italy it would be "perhaps" possible to live just for one week, also given the high inflation of recent years.

Starmix · Jan 18, 2024

I don't know the value of the pension you receive in US dollars $ 1 is equivalent to
P 55 pesos in Ph money so I cannot say if the amount you receive is good for a week or a month. It's true that inflation is doubling its rate this time which is why we need the right budgetting.

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