Good debt Bad debt at FinGad.com

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Submitted 8 months ago by

Eeexpert , Transcript Editor, Marketing Officer-podwriter transcriptions, Event organizer, Entrepreneur, owner of memokitchen.com site at memokitchen.com

Overly anxious or somewhere in between? How to tell if you are in debt trouble? This is a rule of thumb of financial planners, he says. We all know there's good debt and bad debt, but both of them must be kept low to keep us from "debt trouble"It was said by financial planners, " if you have P100,000 gross monthly pay, 36 percent of that should only be the amount of debt you pay every month. If you exceed that, you are actually spending beyond your means." When talking about consumer debt, meaning our credit cards balances, the limit is lower according to financial planner and author of books on personal finance. Ther's a danger with consumer debt, especially credit card which I personally experienced before I finally commit myself to cut my spending habits and change my lifestyle to religiously pay my credit cards balances and be debt free! The danger is to be so mired in payment difficulty that card holders have already eaten up all their groceries while waiting nervously for the bill to arrive. A really stressful way to live.Don't lose hope. I have seen a lot of people get out of deep debt, but it will take discipline and commitment.Better be safe nowadays.. More...

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#1 | Anderson @ 8 months ago Senior Architect at Computer Merchants User Rank : 51 Portfoilo Balance: $65,000.00 Comment Rating: 1 Flag Comment Spam | Miscategorized | Prohibited: Thanks for your input. Would you happen to have more information on this? Possibly some links? Thanks!
#2 | Lovephileo @ 6 months ago WEB CONSULTANT / PASTOR at LIGHT OF THE WORLD CHRISTIAN CENTER User Rank : 413 Portfoilo Balance: $1,110,169.00 Comment Rating: 1 Flag Comment Spam | Miscategorized | Prohibited: Very well said eeexpert, I can personally testify to the danger with consumer debt especially credit cards. You are 100% correct with what you said about good debt and bad debt, that both must be kept low if you don't wanna be in "debt trouble." I learned this lesson the hard way, and how I wish, I learned this before I got my first credit card. He he he........ Thanks for sharing it to all folks aboard. What a great contribution dude!!!! Its simple, practical but deadly useful for all, both young and old. Will surely wait for your next post. Keep it up!!!
#3 | Lovephileo @ 6 months ago WEB CONSULTANT / PASTOR at LIGHT OF THE WORLD CHRISTIAN CENTER User Rank : 413 Portfoilo Balance: $1,110,169.00 Comment Rating: 1 Flag Comment Spam | Miscategorized | Prohibited: +3 for this article. Please write some more. I'm sure your next post will be worth reading. Happy Writing.

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