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Q.

How can I pay off my debts fast without stressing my finances too much?

Tags: money, advertising & marketing, study abroad
Asked by ankit shivam, 12 Dec '12 10:17 am
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Answers (7)

 
1.

You have so many friends here-Talk to them.Ask them to help you out and repay in interest free instalments if they can really trust you !!.
Take a Mercy loan from your close relative with medium term repayment option
Ask your employer to give you a loan
Sell some gold if the interest is costing you more
Take out the FD"s or LIC policies if you have taken
Never go to a pvt financier of Banks for personal loan .It is too expensive
Options are many ! Being a COSTING GUY you must know the means and ways better-
But NEVER turn to your WIFE"s side for loan or helps!!
Answered by Rose, 12 Dec '12 10:25 am

 
  
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2.

By redicing expenditure
Answered by dhanendra kumar jain, 12 Dec '12 10:58 am

 
  
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3.

Strike a balance between our debts and income, think well, plan better and do the best...!
Answered by Dil Se, 12 Dec '12 10:43 am

 
  
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4.

Cut down the wasteful expenditure .
Answered by Damodar Biswal, 12 Dec '12 10:37 am

 
  
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5.

Review your income and expenses. Write down and examine your income and expenses carefully to find the money you will need to make extra payments on the targeted debt. Look for any places where you can cut back. Clip coupons, go for basic instead of premium cable, bring coffee and lunch from home, etc. Look for opportunities to save and bring in additional income (carpool, sell on eBay, consider consignment or turn a hobby into an income-generating activity)
Answered by XYZ, 12 Dec '12 10:27 am

 
  
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6.

Understand how much debt you have. Using credit cards often puts people out of touch with their money. You'll need a clear picture of where you are financially if you want to make a workable plan for getting out of debt fast. Gather all of your bills (credit cards, loans, etc.) and add the totals to get a clear picture of your debt. Write down minimum monthly payments, due dates and interest rates for each. Contact creditors to negotiate lower interest rates. Lower interest rates lower your debt burden making it easier to pay off your bills faster.
Answered by manju shrivastava, 12 Dec '12 10:22 am

 
  
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7.

Need to organize expenditures
Answered by anil garg, 17 Dec '12 03:46 pm

 
  
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