Steps to debt free life

We all know how rude the creditors can be with their harassing calls if you are unable to pay the due payments. So let me share some of the steps that can put you in a debt free path.

1) Don’t build up further debt. If you are already in debt then you should not do anything which can put you in further debt.

2) Let your creditors know that you are having some problem paying the debt before payments start being late.

3) Don’t make false promises to your creditors. False promise can only make further trouble in future.

4) Ask for financial counseling. You can find some people providing financial counseling with fees; find some one who is charging low fees.

5) Pay those loans which cost you more interest. Find from all your loans which are costing highest interest and try to pay it off first.

6) If you are in huge debt then you should stop buying unnecessary good. Only buy basic necessary goods.

7) There are some debt consolidation and debt relief program available. You can try one of them after judging its merit and demerits.

Try to follow the above mentioned steps to a debt free life.

Although you have bad credit, you can still get mortgages. Many companies are there to offer you loan now a days.

Basic knowledge on Financial Markets and Investment

We all want to invest our excess money in financial markets but many of us fail to get success because of lack of understanding of the market. It is really important to have a good knowledge over financial market before investing. Financial market can be divided into two parts: Money Market and Stock Exchange Market.

The money market mainly deals in short-term loans. High street banks and building societies are dominating the money market, whereas stock exchange market deals with the securities which are negotiable. Stock market can also be divided into two parts, Primary Market and Secondary Market. Primary market involves in the new issues of shares and bonds, on the other hand Secondary market deals with the selling and buying of second hand shares and bonds. In fact the major transactions of the stock market involves in the secondary market.

If you are in a plan of a long term investment then you should invest your money in shares through any Insurance policy or Pension Finds policy. So know about the market and its situation better when you are going to invest.