Getting hard numbers on your debt can be difficult, especially when it’s, well, your debt. We tend to have an emotional attachment to our money no matter what form that money takes shape in. We might feel that it’s out of order to even think about our finances in a way that would lead to other solutions. However, you don’t have to feel this way at all. It’s important to take small steps to a brighter financial future. You might feel immense pressure to move quickly, but don’t give into that. It will only make you feel like there’s no way to get out of debt, and why would you want to feel that way at all?
So let’s start from scratch: it’s time to use a debt calculator to get yourself back on track. You might feel that it’s unnecessary to use one, but trust us; it really does make a difference.
You can see exactly where you’re going based on how much debt you have and how much money you’re paying every month. If you don’t like the numbers that you get back, that’s when you can explore other options. Some people feel that seeing the numbers in plain sight helps them plan better, because you can’t downplay numbers. You can’t shrug your shoulders and pretend that the numbers aren’t there. You have to put aside you doubts and realize that it’s just time to clean up your finances.
If you need any motivation, think about the goals that you have on your plate. Do you really want to miss out on those goals merely because you’re afraid to get started? Even if you’re the only one out of your group of friends that is thinking in terms of personal finance and prosperity for the future, is that really a bad thing? You really need to make sure that you focus on getting yourself out of debt first. Everyone else can come later.
There are debt calculators all over the place, and the other good benefit is that some will even let you know whether or not you qualify for an IVA. IVAs can help you reduce your debt dramatically if you qualify. But you won’t know your options unless you take the plunge today — what will you do next? Good luck!