I have several credit cards with a total limit of more than 100,000 yuan. I am not worried after overdrafting before. Because of the business of my company, I can pay with a credit card and then return the cash funds to the card. Here, use the credit card statement date and consumption to balance it, and you can also exchange points by the way. Later, because the business settlement method was mainly business-to-business, the payment was suddenly cut off. Later, I got a POS machine that could swipe my own card. After a few swipes, I was targeted by the bank and the card was frozen. The bill I still have to pay it back, and I don’t dare to use my credit card anymore. You can imagine how I feel. It was hard to tell my friends, so I decided to start with Alipay's Jiebai and WeChat Weilidai. The interest rates were relatively high, at least better than other online loan platforms, but I was afraid of falling into loan sharking. Just go back and forth slowly like this. Later, my income gradually increased, and I finally paid off my credit card, and I was finally able to sleep soundly. In short, the best way is to focus on increasing your income, and don't always think about how to repay the loan cyclically.

Do you think the interest rate for online loans is very high?

If the interest rate of online loans is high, I think there is a very shameless and effective way. Borrow money from relatives and friends, and pay back the online loan first. Credit card interest rates are low and can be repaid according to the monthly repayment amount.

Some people say, if you borrow money, how will you pay it back to others? This is when you need to be thick-skinned. Just put it off, only if you repay the online loan will you have the conditions to change your life. When the time comes, I will slowly earn my money back and borrow money from relatives and friends.

Take me as an example. I lent two amounts of money but did not get them back. No need to think about it, you all know what they used it for. One loan lasted for 4 years, and the other loan lasted for 3 years. Every time I asked, I said no. I definitely don’t expect to be able to pay it back in the next few years.

What I want to express is that if you want to break out of this endless cycle, you must have a sum of money that does not require interest to plug the hole first. Although it is very damaging, there is really no solution.

When it comes to solving online loan problems, then work hard. If the salary of a job is not high enough, then do a side job after get off work. Since you have planted the cause, you should deal with it yourself. Nowadays, many people who are under great pressure will look for a second job in the evening after get off work. This is not a shame.

No matter how great the difficulties are, we still have to look forward. It took two years to get out. Come on friends.

To escape from this endless cycle, we must increase revenue and reduce expenditure.

1. Open source is very important. Without additional income, these holes will never be filled. So how to open source it?

1. If you have a very stable job, do not resign, because it can at least guarantee your basic living every month. On the basis of this stable job, you can use your own skills or find a part-time job. For example, if you know how to design, you can get some design copywriting from Witkey and Bajie.com, and the design fee will be considerable.

2. You can ride online, run errands, drive, or take out food. You can arrange your own time, and you can work part-time during off-duty hours.

3. Online store. If you have the supply of goods, you can also try to open an online store. There is no need to purchase goods, just cooperate with manufacturers.

2. Save money

Develop a good habit of keeping accounts, record all the basic living expenses at home, and see if there are any unnecessary expenses, so as to avoid waste.

3. Be sure to find the online loan or credit card with the highest monthly interest rate, because it has the biggest hole and generates the most negative growth every month, so replace it first. Then by analogy, every time a credit card is paid off, one will be used up.

Be persistent in whatever you do, and don’t be afraid of hard work or losing face. I believe you will be able to successfully break out of this circle.

When you reach middle age, you are full of a sense of crisis. Although your income is still decent, you are always worried that if something unexpected happens to you one day, you will leave a pile of debt for the elderly and children to sell your house and car! I calculated the sum of the limits and usage years of several of my credit cards, white bars and gold bars, and the interest paid every year. I was shocked. The interest earned over the years can be used to buy a set in a prefecture-level city in Hunan. Rooms of more than 100 square meters! This year, I will forcibly reduce my expenditure. I will not spend a penny randomly, and I will eliminate each item after I have paid it off. Although my money is not as generous as before, my heart is getting more and more relaxed!

If you want to escape from this cycle, you have to solve it from the root. Just stop using it and spend as much as you earn. The premise is that you can cancel it directly after paying off each card one by one. In this way, you can escape without any cards for you to use.

Fulfill the contract on time, consume rationally, and don’t get ahead of schedule

Sell the house, pay off all the payments, rent a house in the future, and slowly save money to buy it back

Here’s a suggestion for you: increase revenue and reduce expenditure

Stop new loans and credit card expenses as soon as possible to reduce non-essential expenses every month. What is non-essential spending? It means that if you don’t buy it, people will not die. If you have to spend it, people will die if you don’t buy it. For example, eating, sleeping, and learning skills all must be spent. Playing games, watching variety shows, parties, luxury goods, buying cars, and houses are all non-essential. After clarifying these two concepts, start planning your life. First, start with accounting. The main thing is to understand the composition of your daily expenses, which ones are non-essential and which ones are necessary, and then make targeted optimization. At this point your life is back to normal.

Simply reducing expenditures is not enough. You will find that over time you still cannot solve the problem, or that it is difficult to solve the problem. At this time, you need to learn to open source, think of all the legal ways you can think of to increase your cash flow, 24 hours a day, sleep 8 hours, work 16 hours, some people may work 8 hours, then you have another 8 hours If you want to take another job, some people say that I have to work overtime at work, so you should do your main job well, improve your skills, and if there is a good opportunity, change jobs and raise your salary. There is only one purpose, to make more money. Through such efforts, your cash flow will gradually improve. After you have enough cash flow, you need to develop some passive income jobs, such as writing books, fixed investment funds, writing articles, doing self-media, etc., jobs with a compound interest effect. In this way, in the long run, you will accumulate, instead of thinking about the past. In that way, you can only have one income from one job, and passive income means that you can contribute and earn multiple incomes.

Summary: Increase revenue and reduce expenditure are complementary and dependent on each other, and neither one can survive without them. If you just increase cash flow without planning it, it will be like storing water in a pool. If the sewer pipe is not blocked, no matter how much water you put in, it will drain away. The most important thing is to persist and stick to the lifestyle I mentioned. I believe you will be able to get out of the predicament soon.

If you don’t understand, you can click on my avatar and send me a private message, and I will answer it for you.

Making money

The only way to escape the endless cycle between online loans and credit cards is to have self-discipline and spend according to your ability, otherwise you will have to pay a heavy price.

Several friends around me have sold their houses and their families have been separated because they owed online loans or credit cards. They are approaching old age and are now struggling to survive.

One of my friends is in his 50s today. He already owes millions to multiple credit cards. He has a monthly salary of 7,000 to 8,000 from a public institution. In his free time, he sports a sports car to support his family. His wife works in a supermarket. Although his income is not high, but Based on the overall income of the family, if they can plan their expenses well, their life should be good, and the children will not need to bear the expenses when they are older.

When I heard last year that he owed more than one million yuan, I couldn’t believe it. At that time, he couldn’t figure out why he owed so much. Because he couldn’t pay back the money one after another, many banks pursued him for payment. He started to panic. He needed to borrow money to repay his mortgage, so he trusted others to help him borrow money to support the loan. He continued to make installments, and it became like this in a few years. I suggested that he first settle how much he owed as soon as possible, and then negotiate with the bank to reschedule the repayment. plan.

Now that his only real estate and car have been sold, he still owes 1 million for repayment. His salary card is withdrawn by the bank every month, and his WeChat and bank cards are all frozen. Think about it and exclude daily expenses from his income. , and it may not be over in my lifetime. Every time I see him, I look sad.

So please don’t easily fall into the consumption trap of online loans and credit cards. It’s easy to borrow money, but it’s terrible to pay it back!