How would YOU handle debt?

07/27/2011

16 Comments

 
As the national debt debate rages on with opinions on both sides as to how we should resolve matters, I’m wondering what ordinary citizens are doing about the debt crisis in their own homes? It’s easy to throw stones at politicians and posture what we'd be doing in their stead-- so let’s take a look at how we are actually handling our own borrowing, spending, and income!

  1. What’s the difference between good debt and bad debt? Does good debt even exist?
  2. Do you know how much money you are able to spend each week/month without overspending?
  3. Are there ways to increase your own income?
  4. Are there ways that you can reduce your personal expenses? What are you willing to give up in order to control your own debt?
  5. Why do you think so many of us overspend in the first place?

Leave your thoughts in the comments or post a reply on twitter: #howihandledebt
 


Comments

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10/25/2012 6:46am

Debt obligation considered secured, if creditors have recourse to the assets of the company on a proprietary basis or otherwise ahead of general claims against the company. Unsecured debt comprises financial obligations, where creditors do not have recourse to the assets of the borrower to satisfy their claims. Thanks.

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11/24/2012 12:27am

Research papers play an important role in the academic success of every student

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01/21/2013 9:05pm

Thank you for this article. That’s all I can say. You most definitely have made this blog into something special. You clearly know what you are doing, you’ve covered so many bases.Thanks!

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01/29/2013 6:48am

People must not underestimate debt whether it is small or big debt. Debt is debt and debt can never be good, so people must always have knowledge about how to handle debt.

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02/20/2013 8:00am

If someone wants to manage his debt, then first of all he must learn the management of overall finance part of his life, such as income, spending, savings, and investments, etc. We must make a good sensible family budget, and according to that we must manage our spending, saving and investment.

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02/25/2013 8:10am

According to me Proper financial management is the best way to handle debt. If you have good control over your finance part, then you can easily handle debt and all of your obligations. People need to work on the good source of income, control over expenses, savings and investments.

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02/27/2013 9:05am

Private debt comprises bank-loan type obligations, whether senior or mezzanine. Public debt is a general definition covering all financial instruments that are freely tradeable on a public exchange or over the counter, with few if any restrictions. Thanks.

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03/01/2013 10:18am

If you are able to increase your income then it would be really good way to handle your debt. Passive income must be greater than your expenses. Most of the time people face debt problems.

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03/02/2013 7:24am

People must make a good family budget as you said that people should know their expenses each week/month. Generally unwanted and unexpected expenses spoil our budget, so we must control our unwanted expenses. This could really help us to improve our financial status.

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03/06/2013 8:51am

People should control their personal expenses; usually people should control their unwanted and unexpected expenses. These unwanted expenses create problems for us and we face debt problem. People should always repay all the loan installments on time.

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03/15/2013 10:46am

National debt is a major issue and we should not underestimate it. A person should maintain his finance part and should control his expenses, and then he can easily manage his family debt. Proper financial management and budgeting can help a person to control debt.

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03/19/2013 5:34am

Why to panic on any type of situation, just go with it and make the situation comfortable.

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04/01/2013 11:00am

Texas Instruments has a series of financial calculators that offer specialized functions meant for calculating interest rates and other complex financial measurements that normal calculators don't have. These calculators work much differently than other varieties and have unique buttons and symbols that can be very confusing if you don't know how each function is meant to be used. Thanks.

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04/03/2013 10:48am

According to me the best way to handle debt is that control your expenses. . A person should maintain his finance part and should control his expenses, and then he can easily manage his family debt. Proper financial management and budgeting can help a person to control debt.

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04/05/2013 10:44am

Actually over borrowing and over expenses are mostly responsible for the problem of debt. People should control their personal unwanted and unexpected expenses; usually people should control their unwanted and unexpected expenses.

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04/09/2013 11:49am

An individual should know his risk appetite and repay capacity and according to his financial condition he should borrow money and make any expenses. Over Borrowing and Over expenses are most responsible for the debt problems.


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    Nathan Key is a writer, leader and facilitator who lives in Florida with his wife and their two sons.

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