Loans make life easier for many of us. After all, not everyone is able to immediately shell out a decent amount of money for a new washing machine or TV. But it is possible to do this gradually, over several months, in relatively small amounts. It's another matter if you are "involved" in loans, take one to pay off the other, and life in debt weighs on you. But there are many ways how to painlessly pay off loans and get out of the financial hole.
Let's say you have three loans in arrears. You need to assign for yourself a certain amount that you are able to spend every month in excess of all the minimum payments. Let's say it will be 2,000 rubles. Choose the debt that you need to get rid of first of all, the best of all is the one on which the highest interest is charged. And on it, in addition to the minimum payment, you pay monthly these 2,000 rubles, and for the rest - only the necessary contributions. When the first debt is paid, proceed to the second debt in the same way, then to the third.
You can follow the same pattern, but start with the smallest debt. Then the "liberation" will be more visible, and the results will be more noticeable, but the interest losses will be slightly larger.
If your loan payments decrease as the debt is paid off, then you can pay the same amount as in the first month. That is, for example, you need to pay 10,000 rubles in the first month, 9,500 in the second, and so on. But you pay 10,000 rubles every month. As a result, you will be able to get rid of the loan much faster.
But the main condition for successfully getting rid of debts is not to take new ones. Moderate your ardor, at least for a while. Otherwise, getting out of this vicious circle will be very problematic.
