Debt Relief Management
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Debt Relief Management Financial Tips.
The key to managing your finances and becoming debt free is no secret.
By reading this, you have already acknowledged the need to look at your finances so you are halfway there already.
****Here are some helpful tips to get you started.****
Make a list of all money coming in each month. This is your “income” and can include wages, benefits, extra earnings from baby sitting or additional work. Add them up to see how much money you have coming in each month.
Now list out all your “essential living expenses”. This should include rent or mortgage, council tax, gas, electricity, water, food, travel, etc.
In fact everything you need to live each month but not counting any credit cards, personal loans, store cards or other debts.
You should include any loans which are “secured” such as a car loan which may result in the car being taken if you don’t pay, or a larger loan secured against your home.
Add up how much this costs you in total each month. You might need to include a small contingency amount to cover unseen expenses each month.
For items which you may once a year, you should divide the figure by 12 to give you a monthly amount to include on your list.
Then take away the Expenses total from the Income total and the result should be a figure known as your “Disposable income” or D.I.
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