There are four ways to get out of the predicament:

1. Stop losses in time; it is not terrible to be in debt. What is terrible is that you are still declining and making mistakes. Only by knowing how to stop losses in time can you prevent the situation from getting worse and then find ways to change your situation.

2. Make progress while maintaining stability; don’t think about paying off the debt all at once. This is unrealistic. You have to be mentally prepared. If it doesn’t work in one year, it will take two years. If it doesn’t work in two years, it will take five years. As long as you don't give up, you will eventually pay it off.

3. Make a group of friends; in the current economic situation, making a small amount of money is a matter for one person. If you want to do a big business and make a lot of money, you need to form a team to fight. If you are still a one-man sneak attack, how can you succeed?

In the early days of reform and opening up, as long as you were bolder and faster, you might succeed. But that is not the case now. Anything that can make a lot of money now requires assistance and assistance. To form a group, you need a common vision for everyone to work together to achieve it.

4. Choose a direction; as a debt-ridden person, no matter what kind of trouble you are in, no matter how much debt you have, you must have a clear mind and be able to clarify your direction, so that you can turn around and break out. possible. In other words, it is a very critical step to choose the direction of your efforts based on your own interests and advantages, combined with your own connections and social circle.

Notes

1. Track your consumer expenditures

Thoroughly implement the debt management goals and plans, and strictly track each consumption expenses and find out as many ways as possible to save money. The more you save, the larger your repayments will be, and the sooner you will be able to pay off your debt.

2. Repay the loan with the highest interest rate first

No matter how many objects and amounts you are in debt to, even if you are heavily in debt, you must do your best first when you have the ability to repay. Repay the loan with the highest interest rate, otherwise you will definitely feel the horror of interest compounding.