The Art And Fashion Of Staying Clear Of Debt
Dressing fashionably to flaunt beauty, style and elegance is everybody’s dream. There are aplethora of garment stores in the market from where you can buy a beautiful dress of latest design. Garments can come in various prices, depending on the quality, fabric and brand value. Costlier, the better, is what people think and so, in a shopping spree, people spend more than their ability. This results to debt. As it is said, cut your coat according to the cloth, it applies in case of expenditure on fashionable garments as well.
Future Consequences Of Debt
Even students want to look as fashionable as their peers. Not finding enough resources to buy clothes regularly, they get hold of a clothing store card and start to buy clothes, even when they do not need to. This leads to unnecessary increase in expense and non-payment. As defaulting a payment leads to penalties, interest and accrued overdue interest, in the end they find themselves in a debt trap. Apart from the penalty, other consequences are, you get blacklisted at a young age. This is very bad as it gets into your way of opening any new account, getting a job and in other fields as well where good reputation and good credit score matters.
Fashion On A Budget
It does not mean that you will stop buying new clothes and continue wearing old ones over and over again. There are ways to follow. First see what clothes you really want to have and review what you already have. While reviewing consider color, fabric, design, styleet al. Capitalize on the benefits of internet. Trade for those garments you do not want or seldom wear on different trading portals. Curb on other expenses, like giving up a few cable channels, to have more resources for fashion. Shop sparingly, looking for offers and discounts, and that too for classic materials only. Take a sensible friend along while you visit here who will keep a watch on your spending.
The Way Out
Where there is a will, there is a way. If you want to get rid of your debt you have to control your passion for fashion and concentrate on savings to create a corpus to pay off your debt. Having a proper and strategically planned budget will also help you in controlling your expenses. By following some easy and simple steps, you can create a fund, negotiate with your creditor, lower the interest rates, ask for some time and clear your debt.
Managing Your Debt
Proper management of your expense and income can see you through debt easily. If you still do not have the confidence in you, then you canalso take help of a debt counselor. They can help you with their professional, expert and effective advice and suggest you ways to clear your debt. They will review your financial position; chalk out a budget plan, ascertain the credit score, prioritize your debts and make a check list, cut back your credit and look for ways to save money and much more, to steer you out of debt. At last, understand that your true value is not in your clothes, but it is within you, your reputation.