Step One- Your Income

Category: Finance, Financial Planning.

Are you tired of sleepless nights when all you can think about is how can I fix my credit score? Most of us fail from time to time to handle our credit correctly.

If so, I will let you in five easy steps which could just keep your head over the stormy water. This might lead you to some hectic times. But every one can control his life and in few simple steps you can see the light at the end of the tunnel as well. You might find your- self and your family in chaotic financial situation. Step one- Your income. This should include: your income, bank savings with interest, property which bear, funds fruits, etc.

Create a list of all the income sources you have. Sum these sources to one solid number. Step two- Your spending. This number will be the ground to all future calculation. Create a list of your spending: food, school, bills, cables, your gardener, hobbies, house- keeper, mortgage, leisure culture, etc. The better you break it down the better you will be able to analyze it in the coming steps.

Now, it is very important to include each and every activity which consumes money. Step three- Rank your spending. As a rule of thumb the things you do not enjoy- bill, etc usually are, mortgage located at the mast have section. Rank your spending from most important must have to I can afford to give- up . Leisure culture, eating out- sides and all the other fun activities usually belong to the I can give- up section. Now, this is the most crucial step in the whole process, remove all the expenses from the bottom of your list, until your earnings exceeds your expenses by$ 5It is extremely important that at this stage you will recheck if you can really live without the item you are about to cut off. Step four- Cut over budget expenses.

If you have seconds thought regarding one of the items simply re rank your list of expenses, then come back, step four to step five. If you completed all the above steps you now have an extra$ 50 every month. Step Five- Use extra money to fix your credit. This must be used to cut down your payments. Point your new health plan to$ 50 a month. Work a payment plan with all the credit payments you currently have. Use your extra$ 50 to pay for your financial solution.

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