TAKE STEPS TO SORT YOUR FINANCES ( 1 )

Credit Crunch  ? 

 Sort your financial position and lead a happy life .

 The elders in ancient times used to say – from what you earn , first give 10%  to charity , save 20% and live on the rest .

Don’t say if I had more money I would have a better plan , if you had a better plan you would have more money !

 In  the present time it would be safe to say that 92% of the population in Western countries dip into their credit cards to meet their monthly expenses – never mind savings . Situation would be even tougher now , during the credit crunch .

On top of this you may have some loans – student loans , bank loans etc .An average student graduates with a debt of £20,000 !

The biggest out going every month is the mortgage payment , which in the present age is the payment of interest only , the principal remains standing there , hanging like a sword over your heads for all your life  or at least most of your life . ULESS YOU ARE AN MP IN THE BRITISH PARLIAMENT , THEN THE MATTER IS TOTALY DIFFERENT – the tax payers will take care of your expenses including on order porn movies ! or so it is reported in the press : good luck to them .

Since we are not all MPs we need to be more careful with our finaces during this time of recession .On top of this the cost of living is steadily going up and we all have to live .

Most of us have had a call from the credit card company at 7 pm to say that they would want us to pay £100 now by a debit card and they can be very persistent .

If you are in this position where most of what you are bringing in is going to servicing your credit cards / loans and then to pay your expenses you need to use your credit card ,

STOP .

• You are in trouble and the first thing is to acknowledge this – denying this will not make the debts go away .Nor will alcohol or shouting at your wife or kids .
• Worrying about it and spending sleepless nights will only increase your anxiety and blood pressure – it is not worth ruining your health for this or worse still ending up in the hospital with a heart attack .
• You need to clear your mind and understand that  THIS IS NOT THE END OF THE WORLD.
• This is not to say  that you are not at fault , of course you are at fault , but  you now  need to make amends – URGENTLY – for your sake and for the sake of your family .