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Difference between revisions of "You Have Options for Getting Out of Debt"
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You Have Options for Getting Out of Debt (view source)
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==What should you do if you have money problems?== | ==What should you do if you have money problems?== | ||
First assess your overall financial situation. List your monthly expenses for food, rent, clothing, transportation, medical and dental fees, and all regularly occurring expenses which you pay (for example, music lessons, if your child takes these). Remember to include a monthly amount for annual expenses like car repairs and insurance. Also include an amount for emergencies that could arise – like the need to replace the family car, the TV, your computer or the house furnace. Total this up, and then subtract it from your income. The amount left over is what you have available to pay towards your debts. | First assess your overall financial situation. List your monthly expenses for food, rent, clothing, transportation, medical and dental fees, and all regularly occurring expenses which you pay (for example, music lessons, if your child takes these). Remember to include a monthly amount for annual expenses like car repairs and insurance. Also include an amount for emergencies that could arise – like the need to replace the family car, the TV, your computer or the house furnace. Total this up, and then subtract it from your income. The amount left over is what you have available to pay towards your debts. | ||
