The financial disorder is a product of the lack of planning of the family budget. With high indebtedness, the person comes to a stress and wear that harms their work performance, academic and even their links with the family. Thus, someone who was an excellent official can noticeably lower his performance when he begins to accumulate debts, since all the time he is worried about his situation and loses focus of his responsibilities; it is no longer concentrated.

Although some employers in these cases opt for dismissal, others, however, see how to help their employees, conducting basic training on financial education. There are companies that are dedicated to impart this type of instruction in our country, such as Superarte and Principles of Life, which increasingly receive more orders from entities, both public and private, thinking about their employees.

The expert in bad credit loans David Baddeley Says, How do I get to the end of the month? mentions that to achieve success in financial health is important to develop some basic principles, such as resignation, honesty, patience, savings, integrity self-control. He also points out that one must learn to live with what one has and escape financial slavery, without getting into unnecessary debts or those that do not have sufficient guarantees. “The individual must be honest enough with himself about his income and his ability to make commitments,” he says.

It affects the family

In addition, David Baddeley states that, in the United Kingdon, the number one cause of divorce is money, rather than infidelity. “This did not happen before, it happens more often in younger couples. Something is happening to us, and that is that too much freedom has been opened up to credit and families are being decapitalized, especially young couples who have just begun. to coexist, with debts of by means.

Wear the health

On the other hand, financial stress is detrimental to the physical and mental health of people. According to a study by Scottish trust deed 44% of people with high stress due to debt suffer from constant headaches, depression, moodiness, digestive problems, heart attacks muscle tension, among other ailments.

So that the debts do not suffocate, the Foundation Principles of life leaves us some recommendations:

  • Keep a record of all debts, in order to be clear about where to direct efforts to get out of them.
  • Avoid as much as possible the “bicycle” of the commitments, since they generate more interest on the debts already contracted.
  • Eliminate those that are charging higher interest and those that are smaller in amounts.
  • Do not stop paying.
  • Develop a plan to control expenses adapted to the family reality. It must be clearly identified how much money is needed to cover all the expenses of the month, without exceeding the income, and the savings must be part of the plan.
  • Reduce the essential expenses. If you have a tight budget, it is best to avoid purchasing items or contracting services that are not essential, such as cable and internet and migrate to lower rate telephony plans.
  • Preparing food at home will also help reduce food expenses.
  • Develop discipline in the timely payment in order to prevent late charges.
  • Avoid the use of cards for what can be paid in cash.
  • Deposit savings in a financial institution to earn returns.

Expenditure plan

Develop a plan to control expenses and investments adapted to the situation or reality of the family. It must be clearly identified how much money is needed to cover all the expenses of the month, without exceeding the income, and the savings must be part of the plan, allocating at least 10% of the income for this purpose.