Here you will find a list that we have downloaded from the Swedish Consumer Agency on a number of things that you can do to get your personal finances organized. Of course, we have then added a little bit of our own thinking at the various points where a little more explanation is needed.
Overall picture – The very first thing to do is to get as good a picture as possible of the financial situation at the moment. This means, for example, that you look up exactly what all debts are.
This is a prerequisite for you to solve your problem. Solving a problem when you do not know exactly what the problem is becomes quite difficult.
The next step is to look up exactly what happens if you do not pay your debts on time. This is something that the people you owe money to can answer. If you want a basic idea of what is happening, you can read our guide about this.
Paying the most important debts – Once you have been aware of the various debts and what happens if you do not pay them, the next step is to make sure that you pay the most important debts.
If it turns out that there is no major difference between the various debts, the tip is to repay those who have the highest costs. For example, a loan with a 5% interest rate is not as important to repay quickly as one with a 20% interest rate. By paying the most important debts first, you can save quite a bit of money in the long run.
Is a very effective tool that you can use to get the finances organized. If you put together a budget of what it looks like at the moment, you see exactly where the money goes. If it turns out that you spend a lot of money on unnecessary things, these can be relocated to pay more important things. It is not very difficult to calculate a budget, if you just take the time it will go well.
Guaranteed loan – If you have a loan where someone has entered as guarantor, it is very important to tell this person exactly how it is with your finances. The person has the right to know if there is a risk that he must take over the responsibility for the debt. Although it is a call you never want, it is a must.
Assets – If you are in financial trouble, it is worth selling as much as you can to manage. Assets such as a car cost a lot of money each month while hopefully it can bring in money that can be used to repay more important things. Furthermore, you can have small things lying around that can be sold. Just advertise online, sell them on flea or some other way. It also does not require that a lot of money comes in to make a difference, a few thousand kronor can do a lot for the expenses per month.
Plan – After you have made a budget, you can also make a plan for how to deal with problems. A plan is important for guiding you further through the process of ordering the economy.
If you find it difficult to pay your debts, you should contact your creditors and see if you can find a better solution. They may not agree to change your terms, but there is a possibility that they will. If you do not test, you do not know whether it works or not. This is also something that, with some luck, can cut costs pretty much every month.
Avoid new debts – If you are in a strained financial situation, it is very important not to make this worse. So be sure not to take any new loans or similar. If you have done a lot of shopping in certain places, be sure to lock yourself in there to avoid increasing your debts. Do you have most credit cards cut them then.
The only loan you can consider is a loan to collect other more expensive small loans. This loan saves you money which is why it is ok. It is important, then, to remember not to borrow any extra money, but the loan should only be to settle the previous debts.
The municipality – At the municipality there is often help to get from a person who works with budget and debt counseling. If the problems are major, you can try to use this help.