2018 is just beginning. And like every year, you have surely made good resolutions. So are the classics, more or less easy to keep, like quitting smoking, starting a diet or doing a little more sport. Or others of a financial nature such as becoming an owner, going on a trip or better managing your budget.
All are possible if we give ourselves the means. And it is better to adopt good habits at the start of the year.
Resolution 2018: I pay attention to my budget
It’s decided in 2018, goodbye overdraft and compulsive spending. To take stock of your expenses, nothing better than a notebook to write each outflow and return of money.
For the most connected, there are many smartphone applications that allow you to summarize in seconds. No need to do endless calculations.
Banks are increasingly making budget management tools available to their customers.Directly connected to the bank account, it allows you to classify each expense: occasional costs (restaurant, shopping, etc.), fixed costs (current credits, direct debits, etc.), savings, current expenses (shopping, subscriptions, etc.)…
These applications therefore make it possible to see the sums spent and to see those that can be limited or carried over to next month…
What to do when your debt ratio is too high?
It can happen that the bank overdraft arrives because of a too high debt ratio due to too many loans to repay. And this, despite the efforts made to save or reduce the note.
For example, you have to pay back the car loan, a revolving loan for your furniture, but you also have a mortgage for the house, you have to pay local taxes, your property tax, but also various internet charges, electricity, etc. And there, the meter explodes!
Some lending organizations may offer to use a credit repurchase in order to consolidate all your debts in order to reduce the debt ratio and to have only one monthly payment to pay.
This operation also makes it possible to finance new projects such as carrying out work thanks to the loan of additional cash.