Controlling The Causes Of Debts
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Benedict Smythe
Apr 18, 2013, 4:50:06 AM4/18/13
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Please consider this free-reprint article written by:
Benedict Smythe
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Article Title: Controlling The Causes Of Debts
Author: Benedict Smythe
Word Count: 536
Article URL: http://www.isnare.com/?aid=202016&ca=Finances
Format: 64cpl
Contact The Author: http://www.isnare.com/eta.php?aid=202016
Easy Publish Tool: http://www.isnare.com/html.php?aid=202016
*********************** ARTICLE START ***********************
A very large portion of the world population is presently beset by grave debt problems�debt problems that often times lead to the filing of bankruptcy. Statistics reported that in United States alone, over 1.3 million bankruptcy petitions are filed last year and the number is still growing by leaps and bounds. Debts are not the sole concern of the low income earners. More often than not, people with six figure salaries incur the most debts.
Poor management of income is the most common cause of debts. Spending more than what you earn would result to unmanageable finances. Irrational and impulse spending would cause a person to be overwhelmed by debts. This concern can be easily solved with effective budgeting. A monthly plan will be easy enough to make since all you have to do is fit the expected income to the listed possible expenses. This budget will curve the impulse to buy non-essential things and will effectively cut down expenses. With the aid of this monthly spending plan, debts will be reduced.
Reduced income due to unemployment; underemployment, death of one of the earners in the family and due to divorce can cause the mounting of debts. A reduction of income should also mean a reduction of expenses. But this is not always the case since oftentimes, debts would fill the gap. People would have the idea that underemployment or unemployment is only temporary and debts incurred will be paid once earnings is back to normal. Bringing the expenses in line with the current income would be more effective.
Lapse or gaps in medical insurance coverage would also cause a person to be snowed under by debts. Nobody welcomes sickness but being sick is beyond the control of anybody. Uncovered medical expenses would constitute debts. Medical insurance premiums should be on the priority list of your budget. Saving a part of your income will not come amiss. Nothing would beat being ready for unexpected expenditures. A "nest egg" or a saving cushion would prepare you for any financial strain that would result from illness, job layoffs and divorce.
Enormous debts could result from gambling. Compulsive gamblers wouldn�t think twice to mortgage the house, the car and any other possession of value. Since loans are always available, gamblers are weighed down by excessive debts. Counseling organizations are always available to help compulsive gamblers.
Credit Counseling will help a distraught individual to manage his debt concerns. For a minimal fee, these counselors would help you with your debt problems. These professional counselors who are expert in financial management could give you invaluable support to regain your financial footing. In U.K., Wilson Field is one of these reputable agencies who give assistance to individuals burdened with debts.
Most people think that money is meant for spending. No enjoyment will be derived from looking at it unless you are a miser. But since money does not grow on trees, indiscriminate spending should be avoided. It is always prudent to save for the rainy day. At the end of the day, it is you who will reap the rewards or suffer the consequences of your financial mistakes.
About The Author: Benedict is a freelance article writer who specialises in Finance and Debt advice. Benedict mainly writes Debt related articles for http://www.wilsonfield.co.uk/
Please use the HTML version of this article at:
http://www.isnare.com/html.php?aid=202016
*********************** ARTICLE END ***********************
- To distribute your articles go to http://www.isnare.com/distribution.php
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Message delivered directly to members of the group:
publish-the...@googlegroups.com
*****************************************************************
Please consider this free-reprint article written by:
Benedict Smythe
*****************************
IMPORTANT - Publication/Reprint Terms
- You have permission to publish this article electronically in free-only publications such as a website or an ezine as long as the bylines are included.
- You are not allowed to use this article for commercial purposes. The article should only be reprinted in a publicly accessible website and not in a members-only commercial site.
- You are not allowed to post/reprint this article in any sites/publications that contains or supports hate, violence, porn and warez or any indecent and illegal sites/publications.
- You are not allowed to use this article in UCE (Unsolicited Commercial Email) or SPAM. This article MUST be distributed in an opt-in email list only.
- If you distribute this article in an ezine or newsletter, we ask that you send a copy of the newsletter or ezine that contains the article to http://www.isnare.com/eta.php?aid=202016
- If you post this article in a website/forum/blog, ALL links MUST be set to hyperlinks and we ask that you send a copy of the URL where the article is posted to http://www.isnare.com/eta.php?aid=202016
- We request that you ask permission from the author if you want to publish this article in print.
The role of iSnare.com is only to distribute this article as part of its Article Distribution feature ( http://www.isnare.com/distribution.php ). iSnare.com does NOT own this article, please respect the author's copyright and this publication/reprint terms. If you do not agree to any of these terms, please do not reprint or publish this article.
*****************************
Article Title: Controlling The Causes Of Debts
Author: Benedict Smythe
Word Count: 536
Article URL: http://www.isnare.com/?aid=202016&ca=Finances
Format: 64cpl
Contact The Author: http://www.isnare.com/eta.php?aid=202016
Easy Publish Tool: http://www.isnare.com/html.php?aid=202016
*********************** ARTICLE START ***********************
A very large portion of the world population is presently beset by grave debt problems�debt problems that often times lead to the filing of bankruptcy. Statistics reported that in United States alone, over 1.3 million bankruptcy petitions are filed last year and the number is still growing by leaps and bounds. Debts are not the sole concern of the low income earners. More often than not, people with six figure salaries incur the most debts.
Poor management of income is the most common cause of debts. Spending more than what you earn would result to unmanageable finances. Irrational and impulse spending would cause a person to be overwhelmed by debts. This concern can be easily solved with effective budgeting. A monthly plan will be easy enough to make since all you have to do is fit the expected income to the listed possible expenses. This budget will curve the impulse to buy non-essential things and will effectively cut down expenses. With the aid of this monthly spending plan, debts will be reduced.
Reduced income due to unemployment; underemployment, death of one of the earners in the family and due to divorce can cause the mounting of debts. A reduction of income should also mean a reduction of expenses. But this is not always the case since oftentimes, debts would fill the gap. People would have the idea that underemployment or unemployment is only temporary and debts incurred will be paid once earnings is back to normal. Bringing the expenses in line with the current income would be more effective.
Lapse or gaps in medical insurance coverage would also cause a person to be snowed under by debts. Nobody welcomes sickness but being sick is beyond the control of anybody. Uncovered medical expenses would constitute debts. Medical insurance premiums should be on the priority list of your budget. Saving a part of your income will not come amiss. Nothing would beat being ready for unexpected expenditures. A "nest egg" or a saving cushion would prepare you for any financial strain that would result from illness, job layoffs and divorce.
Enormous debts could result from gambling. Compulsive gamblers wouldn�t think twice to mortgage the house, the car and any other possession of value. Since loans are always available, gamblers are weighed down by excessive debts. Counseling organizations are always available to help compulsive gamblers.
Credit Counseling will help a distraught individual to manage his debt concerns. For a minimal fee, these counselors would help you with your debt problems. These professional counselors who are expert in financial management could give you invaluable support to regain your financial footing. In U.K., Wilson Field is one of these reputable agencies who give assistance to individuals burdened with debts.
Most people think that money is meant for spending. No enjoyment will be derived from looking at it unless you are a miser. But since money does not grow on trees, indiscriminate spending should be avoided. It is always prudent to save for the rainy day. At the end of the day, it is you who will reap the rewards or suffer the consequences of your financial mistakes.
About The Author: Benedict is a freelance article writer who specialises in Finance and Debt advice. Benedict mainly writes Debt related articles for http://www.wilsonfield.co.uk/
Please use the HTML version of this article at:
http://www.isnare.com/html.php?aid=202016
*********************** ARTICLE END ***********************
- To distribute your articles go to http://www.isnare.com/distribution.php
- For more free-reprint articles go to http://www.isnare.com
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