Debt Doesn’t Have to Rule Your Life
One of the lowest points of a person’s life perhaps is debt. Debt is unavoidable, especially if you’ve just finished university and you’re fresh from school. Let’s say you had just been accepted to your first high-paying job. What do you do with your income and your mounting debts?
The first step is always to take stock of your situation. Never allow your debts to control your life. List everything you have and everything you need to repay in the coming years. Don’t sacrifice your vital expenditures; instead, use the surplus for the repayment. If you want, a separate bank account for debt repayment may be opened to encourage you to drop a few hundred dollars every now and then.
April 5, 2009
• Posted in: Spending wisely saving wisely
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