How to stop buyers' remorse - 07/09/04
You're trapped in a downward spiral
of spending money and either not saving
or adding to your debt burden. Just because
you spent spontaneously doesn’t
mean it was a mistake, and hopefully you’ll
learn to have more self control the next
time you have extra cash to spend. Select
the tip which best suits you, and act
on it:
- Pay yourself before you pay others.
If you want to save money on a regular
basis set up a standing order or direct
debit with your savings account. You
should be looking to save at least 10%
of your monthly salary.
- If you have a build up of debt in
your wallet, have a clean out. Cut up
old credit cards and either take out
a new credit card and consolidate your
debt onto one card at a zero percent
interest rate.
- If credit cards and small loans have
turned into your worst nightmare, lift
a load from your mind and consolidate.
You may find your monthly payments can
be spread over longer and more favourable
terms. Try and pay back as much as possible
per month, but keep some to save for
those rainy days.
GoBusinessFinance has a range of products
to manage debt or improve your spending
power. Use our marketplace to get the
best deal on a
personal loan or
credit cards.
Written By Simon Johnson
Xbridge
Decision Finance
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