Polo Funding Offers a Realistic Debt Recovery Plan

Even if your finances aren’t where you’d like them to be today, this doesn’t mean that things can’t go your way tomorrow. All you have to do is find out what’s not working, then figure out how to fix it. 

Ironically, you may not be aware that you have the power to change your financial situation. After all, when you look around you see that many people face similar hardships. According to a Bankrate survey, 21% of Americans have more credit card debt than emergency savings. 

While it’s easy enough to blame the economy, this is only partially true. You still have plenty to say about how you manage your financial affairs

One simple reason many people neglect their finances is that it takes a tremendous amount of discipline to keep tabs on all expenses.

Here are some steps you can take today to get your budget back on track:  

Manage Your Debt 

If you don’t manage your debt, it will manage you. Unless you find a debt repayment plan that works for you, you’ll spend much of your time dodging collection agency calls.   

One way of managing your debts is to simplify your repayment process by getting a consolidated loan from Polo Funding.

A consolidated loan will lower your monthly payments because you’ll pay over a longer time. It’s essential that you have a stable job or another source of consistent income so that you can make your payments every single month. The success of this repayment plan depends on consistency.

Don’t Pay Full Price  

Most people pay the full price for everything most of the time. While you do have to pay full price sometimes, you don’t always have to.  Strategic spenders try to reduce how often they pay full price.

Here are two popular strategies to avoid always paying full price.   

  1. The “wait and see” strategy. Savvy buyers “wait” until there is a seasonal change so that they can “see” a drop in price. For instance, Christmas decorations cost more before Christmas and drop in the new year when stores offer sales to get rid of their excess inventory. Similarly, airfares and hotel reservations rise during peak vacation times and fall in the off-season. 
  2. The comparison shopping strategy.  Savvy buyers look for a competitor who is selling the same product for less. While a lower price might be because of  “knock off” products or a price war, this isn’t always why some retailers sell for less. Many top retailers have developed efficient operations that drastically reduce their costs. These retailers then pass these savings on to their customers.  

The money you save can pay off your debts faster or allow you to invest more.  

Develop Good Money Habits 

Managing your money may seem overwhelming in the beginning, but once you get the knack of budgeting, saving, and other practical money management practices, the mechanics of organizing your finances will become less daunting. In fact, you’ll eventually get to a point when you wonder why you thought it was difficult at all.  

Once you’ve identified what money methods to adopt, then stay consistent with developing good money habits.  Managing your money is just like any other habit–it takes time and practice to get good at it. 

You’ll notice that you’ll get increasingly better at managing your money if you stick with it for some time.  

Stay the Course

Don’t buy into the myth that some people are just naturally good at making money and that they have an innate knack for making money. Nobody is born with this ability. Everyone learns it. But even if you do acquire this ability, it’s not enough to be wealthy. You also have to get good at managing your money. So even if you’ve failed at managing your money until now, you can decide that enough is enough and it’s time to make some positive changes. 

The path to getting good at anything is rarely straightforward. There are always plenty of surprises, always lots of twists and turns on the way–so stay the course until you master the art of managing your money.

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