Owner of a small Philippine business sharing some of my insights in starting your own business plus other investment opportunities.
If you want to really reduce your debt. Make a list of what items you are spending on a weekly basis. Take note of what items you can do without. Start on the luxury items.. but this is usually easier said than done.
Spending money is fun. And in this day and age where everything is high tech and there are lots of gizmo's en gadgets that may tickle our fancy and make us want to buy them. Even if we really cant afford or need them. And in the end we accumulate lots of outdated junk and lots of debt.
Before we spend big money by getting a loan via credit card or personal loan on the latest and greatest gadgets, we must ask ourselves. Do I really need it? Can I live without it? How much would be the re-sale value in case I want to dispose of it? Will it be obsolete in a few months?
A very good example of gadgets that are notoriously expensive when new models come out are cellphones. Specially for us pinoys, buying the latest models out there is also a sign of status. But by waiting a few months the prices will drop dramatically and almost in half. And since there are new models coming out every month from nokia and sony ericsson . Its really not practical buying the latest model out there.
- Related Videos
- Related Articles
- Ask / Related Q&A
- Debt Control - a Skill You Really Need to Learn
- Debt Control - A Skill You Really Need to Learn
- Reduce Debt With 5 Easy Strategies
- 4 Tips To Help You Reduce Debt
- How To Reduce Debt And Save Money
- Ways to Help Reduce Debt to Stop Unnecessary Foreclosures
- Reduce Debt by Controlling your Spending
- Debt Control
Bankruptcy - How To Succeed 3
By: peter radford | 25/12/2009This Article discusses, in some detail, how bankruptcy is treated in Australia. It considers The Bankruptcy Act 1966 (Commonwealth), and the three relevant provisions. It notes the requirements for an individual to be declared bankrupt. It studies important aspects such as the Insolvency and Trustee Service of Australia, the Statement of Affairs, the Bankruptcy Trustee (Official Receiver), and a Sequestration Order. Finally, the restrictions placed upon a bankrupt are considered.
Create and Maintain a Budget
By: Ed Dearmin | 25/12/2009The first step to avoiding the troubles of financial debt is to create and maintain a budget. It’s not as intimidating as it sounds, don’t worry.
Bad debt uk
By: Pinki Gupta | 25/12/2009It's the day you've been waiting as the outlive two weeks... payday further the different time when your face lights up and you actually go to the office shelter a batch of wonderful
Bad debt protection
By: Pinki Gupta | 25/12/2009Credit separate is a part and parcel of hindmost life. The credit card offers us the ease and simplicity to spend cash without carrying cash, is versatile and handy to extras and provides us the means to eventuate again recreate our credit assessing.
Bad debt uk
By: Pinki Gupta | 25/12/2009Whether you have no impression or damaged credit, secured fancy cards are a good tool for box a good credit history.
Bad debt help
By: Pinki Gupta | 25/12/2009The act of manufacture a business or company grow is called business development. There are many sides to original like the assessments of various target markets besides opportunities
Buy bad debt
By: Pinki Gupta | 25/12/2009With the upgrowth number of loan options today, it has emerge as very painless for the borrower to bob prey and make wrong decisions.
Consumer bad debt
By: Pinki Gupta | 25/12/2009To provide a best credit is no whirl science, and you don't hold to spend as much capital because deviating people think.
Handling Stress in the Philippine Business and Work Environment
By: mikego | 08/08/2007 | Human ResourcesMost Filipinos experience stress on a daily basis whether as the head of your own business or an employee. Most don't cope well under pressure, but handling stress is a skill most Pinoys can acquire with conscious effort.
Debt Collection Agency
By: mikego | 08/08/2007 | Debt ConsolidationAs a business owner, have you experienced customers who are delinquent in paying their debts to you? Being in business, its difficult not extending credit to customers specially if you are in the wholesale business. But some in the retail & service sectors also extend credit to increase their sales.