Why You’re Still In Debt?

The credit card has made payments a lot easier for us, but it can be costly for borrowing money. Long-term debts soon surround you if you’re continuously using the cards to accommodate your needs like electricity bills and weekly groceries.


In this situation, you must consider looking for ways that can boost your income and savings including reducing your daily expenses, renting a cheaper room, and getting a part-time job.

Keeping Up with the Facade

You’d soon become bankrupt if you’re carelessly spending money on enjoying a lavish lifestyle. Expensive products like a new huge flat and flashy BMW ride may make you feel proud in front of others, but you won’t feel comfortable if your friends came to know that you’ve rented some rooms of your flat and have leased your BMW.

There is no need to purchase expensive products to get the attention of others. Always live within your means and stop worrying about what others think of you. Reading reviews of licensed money lender before getting a loan from them is highly recommended.

Feeling the Blues

The research shows that several mental issues including depression are directly associated with the debt. When you’re unable to pay your bills, you start getting depressed. The reality of the situation is also clear to you.

Paying off debts is not a big problem at all. All you need to do is to prepare a proper schedule to pay off all the debts. You can create several goals and divide the debt into smaller pieces so that you do not get into the trouble.

Minimum Will do

Making the lowest possible payment increases the interest rate, and it also increases the duration of debt. The banks like customers that only pay for the minimum balances. However, if your income and debt aren’t increasing equally, it may become difficult for you to manage the debt. You can reduce the interest and payoff time by paying more than the minimum requirement each month.

Holiday’s Shopping Spree

If you’re covering the overwhelming costs of the holidays with the credit, you must hold your expenses as soon as possible because it can significantly boost your debts. You should hide these cards in a safe during these tempting events.

The best thing you can do to control your expenses, during the holidays, is to get in touch with the experts at Credit Counselling Singapore. And make sure that you spend less time with the people that tend to overspend.

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