How To Restructure Your Personal Finances For The Better

Debt isn’t always a bad thing. After all; it helps to prove to future lenders our creditworthiness. Of course, when things spiral out of control, debt can become a personal hell for many folks.

If you worry about heading that way, you might be wondering how to stop things getting worse. The good news is that you can restructure your finances for the better. Many people get into debt problems because they aren’t savvy with their finances.

In today’s blog post, I will share with you some dynamite ideas on how to improve your finances. Here is what you need to know:


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Make a list of what you pay each month

The first thing on your to-do list is to draw up a list of monthly expenses. You should include everything from loans and credit cards to fuel and groceries. That way, you can get a clearer picture of what’s going in with your finances.

I recommend doing this on a spreadsheet. My weapon of choice for such things is Google Sheets because it’s free to use and accessible online.

Negotiate lower interest rates

The thing that can often cripple people in a financial sense is interest. Some lenders will charge more than others for loans and credit cards. It’s worth contacting your creditors and asking if they can lower your interest rates.

If you’re struggling to make ends meet, they’d rather do that than not have any payments from you at all. Just be aware that they aren’t obligated to do as you request. So, don’t get angry if they reply back with a “no.”

Consider obtaining a consolidation loan

Sometimes it makes sense to take out one big loan and pay that off each month. Debt consolidations loans are just standard loans but for large amounts.


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If you owe a lot of money, you may find that you’ll need to get a loan secured against your home. Ensure that you can afford to pay the money back, or you could risk becoming homeless!

Convert credit cards into loans

Do you have a lot of credit card debt? If so, you may only be making the smallest repayments possible. The ugly truth about that approach is it’ll take you decades to pay the money back!

As you may know, credit card debt consists of compounded interest. In other words, you get charged interest on top of interest! It makes more sense to take out loans to convert that debt.

That way, you’ll pay less interest. Direct Axis loans and other providers can usually help you achieve that goal.

Find cheaper ways of doing things

You might not know it, but you could be rather extravagant with your spending! There are plenty of ways to achieve things in life without paying so much money for them.


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For example:

  • Buy a greener car to save on fuel, insurance and servicing bills;
  • Shop at different supermarkets to save on groceries;
  • Compare energy prices to cut down on your gas and electricity costs; and
  • Look for cheaper providers of cable TV and broadband Internet.

Good luck!