Tools to better manage your personal finances
Managing your finances well is essential to avoid being in a debt situation. By realizing a good management of your finances, you manage to balance your expenses and your incomes. Insolvency Trustees provide you with tools to help you evaluate your budget and calculate your monthly fees in the event you find yourself in debt.
A good evaluation of your budget
To understand your financial situation, it will be easier for you to make adequate and relevant decisions. There are also online assessment tools that are available to analyze your budget and are easy to use. It includes one part for income and the other for expenses. In terms of expenses, there are the usual parameters that could be expenses for you. Thus, you can inform the expenses of your transport, food, your debts, your rent, your insurance. Other expenses such as entertainment and health care may also be provided. With all this data, you can do the online calculation to find out if your budget is balanced or in deficit.
Calculate your monthly repayment
In case you are already in debt, another tool helps you calculate your repayment amounts. With this tool, you can have an accurate idea of the total amount of your debts. To do the math, you give, for example, your credit card balance and the interest rate. It is then up to you to indicate the minimum payment you wish to make or the number of months you need to repay your receivables. If you need help, a licensed insolvency trustee is here to help.
Every debt problem has its solution
In the face of debt problems, there are often solutions that indebted people do not know. These solutions are offered by insolvency experts to help them improve their financial situation. What benefits can be expected when opting for them?
From voluntary deposit to consolidation loan, a range of advantageous solutions at your fingertips
A licensed insolvency trustee offers tried and tested solutions that have proven themselves. We find among others, the voluntary deposit, the consumer proposal and the consolidation loan.
Each of these solutions has its particularity and is applied according to the financial situation in which you are.
The consolidation loan, for example, allows you to receive help from a financial institution that gives you a loan so that you can repay all your other debts. It will come back to you after you repay this institution.
Is it possible to have an idea of his financial situation?
Before making a decision, it is important that you know your financial situation and your level of indebtedness. Insolvency Trustees have optimized tools that allow you to do calculations to get an overview of your finances. In addition, you can also find out, based on standard parameters, how much you have to pay monthly to your creditors.
In summary, insolvency trustees have tools and solutions for debtors to deal with their debts. By exposing them to your situation, you are already making an important first step towards solving your problems.