Free from the grip of debt

What actually is the financial problem? It could be that we are not aware that the more debt piling up, the loss of purchasing power makes us have to do some behavior of the 10 statement.
Or even you have entered the circle of "devil" whose name caught the grip of debt? Of course, even very high psychological distress felt. Not infrequently we find the short to the news people think of suicide because of debt trapped grip. Blau also horror ghost whose name this Debt grip huh?.
Dear readers, caught in the grip of debt is not the end of everything. As long as we have the will to be free from the clutches of debt, be assured the Creator will provide guidance and ease.

1. Changing Lifestyles FinancialThe biggest obstacle in order to resolve we are liberated from the clutches of debt finance is changing our lifestyle. Financial lifestyle is dynamic relationship between revenue (income) and how we use it (spending). Be aware that financial lifestyle has brought us all this time we are caught in the grip of debt. So milikilah determination to change the lifestyle. Begin by recognizing the right, whether we are for this pattern of spending more to satisfy our desires?
Be concerned first to better meet our needs rather than our desires. At least until we are liberated from the clutches of this debt later. Make a financial plan of lifestyle changes that focus on the efficiency of the monthly budget. I recommend to be made in writing.

2. Recognizing the current debt structureTo obtain an optimal solution to the problem, the main requirement is that we must know exactly the problem at hand. How much debt is still outstanding? How many monthly expenses that must be available to resolve these debts. Arrange in writing and list the priorities of the smallest amount of debt.

3. Identification of current capabilityFrom the determination of financial lifestyle changes, we know how our ability to put aside our income allocated to the plan of our debt repayment burden. So that we can calculate how much a lack of funds to meet the minimum monthly expenses. When it comes to this step, but the result is we have been able to pay our debt burden of the minimum requirement. Immediate plans to do acts in accordance with disiplin.Perlu mind, that set aside revenue is an activity that must be done first before we use it further. If still in deficit, continue the next step.

4. Debt Renegotiation with the GiverThere is always a way to alleviate the debt burden of our approach with the lender. Talk about the difficulties we face and negotiate the best scheme that could give the creditor as a solution, both in terms of the rescheduling of repayment until the reconsideration time charging interest. When the results of these negotiations have not been able to meet debt repayment plan, we could try the next step.

5. Leveraging existing assetsIf we still have assets, the easiest way to utilize the assets to reduce or pay off our debt burden is to sell it. But as a consequence, we lose the benefits of the asset. Be worthwhile to consider using these assets as security / collateral for new debt. For the record, the funds could be generated shall be paid all our debts, or at least most (at least 80 percent of the total debt burden).
Look for a new debt scheme that provides opportunities payback time is long enough and interest rates as low as-rendahya to get the loan amount is large, with a lighter burden of repayments. This step is commonly called the takeover of the debt (Debt Take Over). If you can not directly, there is currently a third party who can assist and act on our behalf. These third parties will be dealing with a bank (or other financial institution). Of course there are fees to be paid for services of this administration.

6. Looking for a loan "SOFTWARE"Given the financial problems quite sensitive and personal, this step could be the last alternative. Loans "SOFTWARE" in question is to borrow some money to family or our closest relatives. Ask a fairly long period and installments without interest. Talking about the difficulties faced. Fully committed to deliver on our promise of redemption. Please note, ties are far more important than money.

7. Maintain and Develop New Financial LifestyleWe do not easily satisfied when our goal to be free from the clutches of debt is reached. (If you are able to pay the mortgage debt on time means we are free from the clutches is not it?). Continue lifestyle is better to achieve our financial goals next. Tingkatkanlah value that can be set aside within your means. We will be amazed of the power to set aside at the beginning of this revenue. Perhaps at some point later, we are surprised to find that we have the financial ability.
There is still potential to develop financial skills that we have, namely our ability to dig again to get more income (additional income). Continue to explore this potential over the interests we have. We will not only be free from the clutches of debt, it will even be able to pursue our financial goals. May be useful. (Budi Cahyadi, MM, CFP ® / Financial Planner, Financial Planning Services TGRM)