Money-related issues can lead to serious stress and anxiety, especially stuck in bad debt. Here's what can you do in order to eliminate tension caused by a financial dilemma. For more tips on managing your finances visit http://www.newhorizon.org

1. 5 ways to
Reduce Financial Stress
by: www.newhorizon.org

2. Money-related issues can
lead to serious stress
and anxiety, especially
stuck in bad debt.
Here's what can you do in order to eliminate tension
caused by a financial dilemma:

3. #1. Create a financial plan.
● It’s very important to be aware of your financial
status.
● Many people find themselves stuck in a bad debt
situation because they did not have a plan to start
with.
● It is so easy to spend more than what your budget
permits if you are not conscious about your
finances.

4. #2. Know the difference between good debt and
bad debt.
● Acquiring debt is not always as bad as it seems.
The key is to make sure that you will be able to
keep up with repayment of your debt(s).
● Before applying for a credit line or a loan,
evaluate why you really need a credit card or a
loan.
● Understand the terms of repayment to avoid
unpleasant surprises later on.

5. #3. Eliminate debt one step at a time.
● If you are dealing with multiple debts, it may not be
possible for you to pay all your creditors at once.
● Nevertheless, don’t let the lack of cash discourage you
from taking charge of the situation.
● If you begin paying some of your debts now, you will be
able to recover from your problem much sooner.

6. #5. Speak with your creditors.
● Hiding from your creditors will not solve anything.
● The best thing you can do is negotiate your debts with each
creditor.
● Request if you can get a lower rate, or if some of the fees can be
waived so you can catch up with repayment.

7. For more information:
http://www.newhorizon.org/credit-info/how-to-reduce-money-related-stress/
If you are looking for credit rebuilding credit cards
check our resources here
http://www.newhorizon.org/Info/creditbuilders.htm