Personal financial management skills have never been so important in the history of mankind as they are now. The liberal terms and superfluous marketing techniques employed by credit card providers has made bankruptcy a term so popular that even grandmothers can tell you its meaning and even quote some sections of the ACT regulating bankruptcy.
Found in this article are the hidden potentials of motivation to help shield you from bankruptcy. Motivation is the working force of every strong desire. Without motivation, you will agree that all your desires to get out of debt and possibly avoid filling in for bankruptcy will all be in vain. Below are some tips that when backed up with motivation will help you get out of that debt that may lead to bankruptcy fast.
Self-control/Self denial and Discipline: Any human being on earth who does not have self-control, self-denial and discipline will find it very difficult if not impossible to make it in life. Credit/debit cards are like loaded gun given to a drunk. A person who lack self control and is not able to discipline him/her self is likened to a drunk handling a gun that is well loaded in the gathering of people. Self control and its associates will help you forgo certain things that are not essential (i.e luxuries). This self-control cannot be found outside motivation. A depressed, stressed and frustrated individual can never be disciplined or have self control.
To get yourself motivated, simply remind yourself that you love yourself so much that you cannot afford to risk losing all the benefits that is associated with clean financial records. Keep an eye on maintaining a clean financial record ( i.e making it your goal) i bet you will always be motivated to have self-control.
Financial Literacy: If you really want to manage your credit and avoid bankruptcy, or even get out of a near bankrupt situation, financial education is one thing that you must seriously consider. I am not saying that you take up a course in finance or accounting. No, what i mean is to always use other peoples' expertise (OPE). You can find quality financial planner online or offline. Discuss whatever venture/purchase you want to make with him/her. Ask for their opinion. In fact, ask them to tell you the financial implications of what you are about doing. Though there is nothing wrong with you being a little friendly with "figures" but you can still get away with it.
Developing a thick skin to compelling adverts: Advertisers and marketers are always researching ways to make people spend even when they don't want to spend. This is their job and they are obliged to it. And it is your sole duty to learn to say no to certain fantastic offers.
Record keeping: This will help you in the area of being disciplined. By keeping records of all your financial transactions, you can effectively and efficiently manage the possible temptation posed by advertisers
Applying common sense and being focused: Make a rational judgment as to what and what you need to buy and what not to buy.
Okwuduche Chinweike is an accountant who found joy in helping people come out of the shackles of financial illiteracy. This he does at http://motivationmotive.com/personalfinance
You can also meet him at http://www.accountantnextdoor.com for some healthy financial tips.
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