The debt tightrope
For many homeowners balancing their everyday finances can be compared to performing a tightrope act! With usually a determined income on a weekly or monthly basis, their budgets are finely tuned to allocate funds to various commitments, including debt repayments. The disturbing fact of this lifestyle is that if one small unexpected expense arises, the balancing act is upset and further debt is the only answer.
A contributing factor to this financial balancing act is that many couples are getting married or forming common-law relationships, already with their individual financial issues. It’s a situation that could be compared to a house of cards, with it needing only one removed card to upset the balance and bring the whole financial pack down.
Maintaining the balance
To maintain a financially balanced lifestyle, various disciplines need to be put into effect, which can be helped with some experienced advice and debt consolidation in Guelph. The sooner this action is taken, the more likely that the situation can be positively adjusted. What must be realized is that this is a relatively common problem; for example, during the 1970s and eighties, citizens in their late teen years were saving up to 20% of their income. By comparison, today this figure is below 5%. This influences a situation whereby you either maintain a determined balance, or you fall further into the debt trap.
There are various ways and means to retain money for unexpected expenses, with the ideal being between 3 to 6 months available savings in reserve. Although it may sound at this stage, unrealistic, with some sound advice from the experts at a friendly Guelph debt consolidation service, it can be achieved relatively easily!
The idea is to rid yourself of debt is to save money; not add to your debt! This may sound like stating the obvious, but keep in mind that you already have incurred debt, and probably are living beyond your means. If it’s important to you to maintain a certain lifestyle, with entertaining, new gadgets and cars and the usual “must haves” then you could be on a very unsteady financial tightrope for a very long time ahead!
In effect, the choice is yours to make; there are highly qualified and experienced Guelph debt consolidation experts who will willingly assist you with your debt burden. Before your financial balancing pole tilts too far, why not contact them for some friendly and confidential advice!