Financial discipline is very necessary for a life without the stress of indebtedness. Its basic premise is to have an overview, and therefore control over one´s costs and revenues. And the easiest way to keep the finances under control is to create a so-called monthly budget. This will give us the opportunity to prevent debts and not worry about stressful circumstances that are usually related to their repayment.
Try this simple template that can serve you as a basis for your own budget in the future. Enter specific amounts in Income and Expenses on the left to immediately see the Available balance on the right:
Is your monthly balance too low or even negative?
There are definitely important things in your budget for your life, but think about at which items you need to reduce your comfort and use money to pay off your debt.
There are things that when you cut out will not only bring you more money, but even improve your health - alcohol, cigarettes, etc. You can definitely handle it. Also, many times, a loan from an employer or family can help immediately and at the same time reduce the cost of rising interest on arrears and more.
If you are unsure, contact our colleagues on tel. number +387 33 832 303 and they will be happy to help you find your way out of the debt spiral.
