Overcoming debt problems through prioritisation

Organise your finances to Successfully Deal with your Debt Problems

13:38 12 February 2014

Discipline and organisation may well be one’s key to success.  You will just have to learn to arrange your problems in order of importance so you can deal with each problem one by one within the opportune time.  Prioritisation is an art and the results could be priceless.

 

1.List down all your debt problems that need to be solved.   Listing them down and categorising each might help you realize that some of them are not that daunting after all.

 

2.Arrange the problems in order or importance or deadlines.  Identify which problems will have the most negative impact in your life if not resolved, or which problem has a deadline which, if not met will have a devastating result.

 

3.Start dealing with the problems one by one, starting off with first priority, second priority and so on.

 

As you strike off each problem from the list, you will begin to see the light at the end of the tunnel.  If some incidental problems crop up, just add them to the list putting it in its order of importance and move on following the list.

 

Dealing with Money Problems

Generally, the biggest problem of many individuals is rooted in money or the lack of it.  This leads to debt a problem that has a tendency to accumulate at a rapidly accelerating rate over time and cause too much stress and unhappiness.

 

The most common debts that have to be dealt with are credit card debts, bank loans, overdrafts or the killer payday loans. These you also have to sort out based on the rate of interest that they charge for refinancing then you have to work on clearing that debt first.  As you also have to keep the other debts moving, you have to pay them a little but still putting in the biggest amount in your first priority until it’s cleared.