Most people with debt feel physical and emotional impacts; Discover essential tips to avoid going into debt
According to the Serasa Default Map, in July this year over 72 million people had debt. And this is not only an economic problem, it can also create health related problems. After all, according to a survey by the National Confederation of Store Managers and the CSP, 82% of defaulters feel physical and mental repercussions.
Some of the key impacts cited by indebted individuals in the survey were:
- Less desire to go out (60%)
- Changes in appetite (51%)
- Compulsive shopping (26%)
In other words, being financially organized is essential, both for your wallet and for your health and well-being. “Planning and organization bring quality of life and security, two key factors for a calm mind,” explains Thaíne Clemente, Head of Strategy and Operations at Simplicic, a 100% online personal credit fintech.
But how exactly do you organize yourself to avoid money problems? Below, the expert provides advice for avoiding debt:
Write down your expenses
Write down everything from recurring expenses like water and electricity to one-off delivery orders. The act of writing it down, whether in an expense spreadsheet or a finance app, creates a healthy habit of recording that is essential for control.
“This way you see the real extent of the expenses and have greater clarity of the situation, identifying where and how the money is spent, if there is waste and how to avoid it,” advises Thaíne.
Reevaluate your credit card usage
A credit card may seem very advantageous, especially because of the installments. However, one of the main tips for avoiding debt is to use this resource conscientiously.
“It is important that the use of the card is intelligent and planned in the personal budget. Consider whether it is worth using it frequently, because the installments can easily accumulate and escape your control. Credit is not an extra income and, if used with caution, it generates unwanted debts”, warns the expert.
Study financial education
It is always important to stay up to date when it comes to finances. Therefore, never stop studying the subject.
“Staying up to date on the best practices of financial organization makes a big difference over time. Knowing how to save, what are the ideal ways to use your credit card and even when it is time to apply for a loan or make investments can increase your possibilities. Little by little, these practices end up becoming habits,” concludes Thaíne.
Source: Terra
Ben Stock is a lifestyle journalist and author at Gossipify. He writes about topics such as health, wellness, travel, food and home decor. He provides practical advice and inspiration to improve well-being, keeps readers up to date with latest lifestyle news and trends, known for his engaging writing style, in-depth analysis and unique perspectives.
