Facts about loans and how to survive it.

Easy steps to manage your financial problems.

As you start earning something from your work, life problems also start multiplying as well.

The following are the impacts of loan on human progress...

• ·        Reductions in one's monthly salary. Loan taking to meet expenses rather than investment can may land one in serious financial difficulties.

·        You may continue taking loan always. Since the salary is not enough you will always borrow money.

·        Inability to save. You May not be able to save anything at all.

    Problems may seem to be more than usual.

·        Inability to meet one's financial needs.

·        Lack of emergency fund. In a situation where you need some urgent money, you may not get it.

·        If care is not taking you may not progress in life.

·        Frustration and confusion. Family pressure may cause a lot of frustration.

·        Loss of respect and dignity. Since you don't have any financial base, you will not be able to live the life your other workers do.

·        Poverty and embarrassment.
In other to avoid the above situations, you must stick to the following guidelines. Even if you misuse your loan or owning a lot of people, there is a hope for you. Just read the following point and your life will never be the same.
·        Write the loan amount and the monthly take home after the loan on paper.

·        Automate the loan payment if you borrowed from individuals.

·        Divide the rest of your salary. Put some percentage aside for saving.

·        Open savings account and activate automotive pay.

·        Open emergency account for some small percentage of the salary.

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• ·        With the rest of the salary, write down all your needs. Arrange them in other of importance.
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•         Buy your stuff according to list you make. Start from the most needs to the least.
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• ·        Make sure you live within the money that left no matter what. To be able to manage the little that you have.
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• ·        Firstly, you must buy all your foodstuff for the month.
• ·        You must stop buying luxury things.
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• ·         Buy only what you will be using within that month.
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• ·        Stop using unnecessary appliances that consume a lot.
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• ·        Reduce your outing plans
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• ·         Stop competing with others.
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• ·        Be faithful to your family members.
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• ·        Do not promise people to give them money.

Be discipline and consistent in following your lay down rules and regulations.

Taking loan or borrowing money can move you forward if the money is used well.