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| Image Source Pixabay |
Can There Be Life Without Debt?
So many people right this minute are consumed with worry and stress due to personal debts and their struggle to make the repayments. Debt
can lead to so many dark and depressing circumstances that even the
mention of the word can conjure up fear and loathing as well as all
manner of other emotions. It is a word and a situation with which the
vast majority of us will become intimately familiar during our lives in one way or another.
From
mortgages to student loans and credit cards, debt surrounds and
abounds in our consumerist society. Sometimes it can feel like there
is absolutely no way out, it can help lead to mental health problems,
the breakdown of relationships as well as debilitating and life
destroying addictions, be it alcohol, gambling or drugs.
In
an age where we are constantly fed and overloaded with a constant
torrent of images of the rich and famous and of the 'high-life' in general, it can be easy to slip into the mindset of thinking that material possessions which can't really afford will somehow portray us in a more successful, and socially acceptable way.
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| Image Source Pixabay |
With
a debt consolidation plan you can work alongside experts to draw up
an articulate and well thought out arrangement which will enable you
to not only manage your financial stress but also your own personal
welfare. A well designed debt consolidation plan can offer that much
needed glimmer of light at the end of the seemingly eternal tunnel.
How
do They Work?
Instead
of trying to keep up on different repayments and schedules and
differing interest rates across a range of separate debts, you can
'consolidate them'. This means that you can instead come up with a
schedule which works for you, not against you. Paying off
one debt and one interest rate, at a level which you can still be
able to live and to get some of your quality of life back. I know
several people including relations, who have used this method to deal
with debts from a few thousand to tens of thousands of pounds.
Everyone I spoke to about it said that it helped to reduce the day to
day stresses of worrying about missing an odd payment and trying to
keep on top of everything.
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| Image Source Pixabay |
Life is
stressful enough so I am 'all for' something which can help simplify
what can otherwise be a quite horrendous process for the average
person. If you have mounting credit card and other
personal debts it's at least worth a look I'd say.
How To Stay Out Of Debt
P.s.
For anyone who might be younger and therefore not in debt yet, or for
anyone who might be curious as to how to remain debt free then I
would recommend you check out the following video here. It is a video
from many years ago given by the richest private investor in the
world, Mr Warren Buffet of Berkshire Hathaway Fame.
I think much of
what he says during this presentation and many of the key points
discussed, remain just as valid twenty odd years later. One major
point he iterates is, 'Do not use credit cards!!' Given that this
was a speech given some years prior to the crash of 2008, you wonder
what might have happened had we all had the chance to heed his
advice.
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