Personal Finance Wellness.

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Archives February 2021


How Much Debt Is Too Much Debt?

Debt and indebtedness are an integral part of financial and commercial activities. The employee and the employer do not know, and everyone has tasted it in some way. We can say that almost everyone in society is in debt:

• A person has borrowed money to buy a house and is paying its installments;

• A person has purchased a vehicle and issued a check to pay for it;

• Someone hires an employee and has to pay every month;

• Someone borrows money to start a business and has to pay it off soon;

• A person has received a service and is scheduled to pay for it a month later;

• A person is negligent in maintaining a loan and must pay the damages;

• And dozens of other small and large cases.

All of them are debts, and having these debts as long as that person’s income and financial resources are sufficient to pay off these financial obligations may not be a bad thing and should be considered a normal part of financial and business activities.

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But the situation worsens because, in the financial balance of life and business, the cost burden is heavier than the income balance. It is here that people gradually fall into the valley of debt, and when they come to, they find themselves in the depths of a valley of financial obligations that they are unable to meet and cannot rise above.

If you are reading these texts, you are probably in debt’s seemingly endless debts, or you know someone around you with these conditions.

In the following comprehensive and practical article, you will learn how much debt is too much debt and how to get rid of debt and be on the path to wealth and financial success.

Things that show you have a lot of debt:

  • Your income is less than your debt:

It is the first sign of over-indebtedness. If you do not have enough money to pay off your monthly debts, there may be some debt left each month, and the accumulation of these debts will increase your debt.

  • Avoid answering creditors’ calls:

When you refuse to answer to the lender or creditors, it means that you do not have enough money to pay the debt and your debts have increased.

  • You get help from a loan to pay off your debt:

If you can not settle your debts with your monthly salary and borrow to pay them, it means that you justify by a lack of money and a lot of debt. But keep in mind that accumulating these loans will ultimately make it harder to settle your debts.

  • You have financial stress:

If you are worried about settling your debts in such a way that your peace of mind is disturbed constantly, you have lost control of your debt, and your debt has increased.

  • Use the money you save to settle your debt:

If you can not settle your debt with your monthly income and use the money you have already saved to settle, it means that your debt has become more than usual. In such a situation, imagine that you have no savings. If so, your financial stress will be multiplied.

  • Hide your expenses from others:

If you do not want to talk about financial matters with your friends or acquaintances, you are probably in a lot of debt.

  • To escape financial stress, you become depressed and turn to alcohol and drugs.

But what can be done to get out of high debt?

  • Keep notes of your monthly expenses:

Find out what your monthly salary is spent on. You must first identify the problem so that you can find the right solution and treatment for it. Making a list will help you a lot. Try to make the list honest. It will help you to reduce your financial difficulties in the long run.

  • Do not spend more than your balance:

If you do not have enough money to buy something, do not borrow it. Of course, this depends on what you want to spend the loan on. If you want to invest in your company or buy a house, there is no problem with borrowing. Because the profit made in return for this work is worth taking that loan.

But it is not wise to borrow money to travel or buy a piece of furniture. Also, car loans can be dangerous. Because the car loses its value after the purchase, and if you can not pay the car installment and have to sell it, you will suffer a lot of losses.

  • Start a side job:

Starting a business is never easy. Sell your products online! Do you love animals? Do you have good eyes and a beautiful camera? Start taking photos and selling them.

  • Start by paying off the heaviest debts:

Of course, this does not mean that the amount of debt is heavy. Maybe a debt prioritized due to the demand for unbearable work, or a debt to the bank because of the interest it has and its amount increases with each passing day, so listing the debt will be a very effective method according to priority.

In this way, noted that the payment of part of the debts reduces their priority. For example, the updated payment of a bank loan that no longer includes interest or part of the debt of the work-seeker payment will cause him to be more tolerant of taking the rest of his demand. Identifying and applying these items can reduce the overall debt pressure. Identifying these items can reduce the total financial pressure.

  • Selling unused items:

Using this method, you can provide part of the required cash. Selling unnecessary items that are not used even for a year will not only create a freer space at home but will also help pay off some of your debt.

  • More work, more income:

Flick to your mind. To pay off your debts as soon as possible, you have to work harder. Now this includes overtime and a second job. So go to them to get rid of this problem as soon as possible.

  • Reward yourself:

Reward yourself when you reach your main and small goals! Be aware that we do not want to fall into the debt trap again after dinner, and spending 100,000 dollars is not news! You can buy yourself a cup of coffee or small things that make you happy, or you can even show off your success on social media, but in the end, with the end of your entire debt, you will be allowed a small party with your loved ones!


In this article, we talked about the signs of debt and then introduced methods for debt settlement. You need to make a statement of all your debts as well as your monthly salary and balance. Using this method will help you pay off your debt faster.

“If you have any feedback about how much debt is too much debt that you have tried out or any questions about the ones that I have recommended, please leave your comments below!”

NB: The purpose of this website is to provide a general understanding of personal finance, basic financial concepts, and information. It’s not intended to advise on tax, insurance, investment, or any product and service. Since each of us has our own unique situation, you should have all the appropriate information to understand and make the right decision to fit with your needs and your financial goals. I hope that you will succeed in building your financial future.


How To Save To Become A Millionaire?

Why should we save?

Proper planning and management of issues are essential to success in life. One of the most important things in life is to save.

It does not matter what your situation is or what your monthly income is. In any situation, you should make saving a priority in your life.

Keeping track of how small your income is will keep you entertained. In this case, you will no longer have to worry about unforeseen events.

One of the most important reasons for saving is to get the initial capital to invest and gain wealth. You can achieve your goals by saving a portion of your income.

This post contains affiliate links. Please please read my Disclaimer for more information.

How to save money to become rich?

What are some ways to get rich by saving? The answer to this question is simple, but it can be hard to practice throughout life. As mentioned earlier, saving in the short term will be the beginning of investing. Note that saving alone will not make anyone rich. Rather, it is the circulation of capital in various markets that gives man wealth.

What steps do we need to take to save?

Saving is not a quick return. So to be successful in life, you need to make it a habit in your behavior and life. It requires the gradual elimination of bad habits and the repetition of the right behaviors. When you can buy good quality goods at a reasonable price, do not spend your money on buying a famous brand of the same quality.

Do not buy anything that looks attractive or spectacular while visiting different stores. These kinds of emotional behaviors are wasting your savings. Cheap and low-quality goods have a short life, and buying them will make you suffer the losses of repurchasing these goods.

By giving up such habits, you will take an effective step towards getting rich by saving and then investing.

Is it better to save cash or save our money on a bank card?

The answer to this question is simple. Saving money in a reputable bank is far safer than saving cash. On the other hand, by saving your money in the bank, you can benefit from its annual profit.

When depositing a certain amount of your income into your savings account, forget about saving that amount somewhere.

In other words, do not list this amount in your monthly expenses. By saving money, you can pave the way for wealth.

Is saving only for the rich?

The misconception that many people believe is that saving is only for the rich and wealthy. According to these people, only those who have a significant monthly income can save.

In response to these people, it should be said that saving is a correct habit and has nothing to do with a person’s income level. These habits are a set of reactions at specific times in life.

The world’s most famous investors have made their fortune from small savings and their proper use. So let go of this misconception and look for ways to eliminate unnecessary expenses and save some of your income.

Why are some people not able to save money?

The inability to save can have many reasons include:

  • Unnecessary extravagance
  • Lack of purpose
  • Procrastination
  • Fear of risk and immutability
  • Consecutive debts
  • Association with negative or extravagant people
  • Lack of health insurance
  • Lack of physical and mental health

To get rich by saving, you must first break bad habits and replace them with useful ones. Keep in mind that low income or any other excuse can not be a convincing reason for not saving. A futurist always saves for unpredictable situations so that he does not get stressed when necessary.

Saving in the way of the rich:

The rich use valuable details to save. The reason rich people are different from other people is not their income level.

Rather, it has to do with their experience. Wealthy people have learned to value their income more and to maintain it in the best possible way.

An ordinary person saves what is left after reducing normal expenses while the method of the rich is opposite to this method.

The rich never pay for unnecessary expenses. They believe that small and unnecessary costs will cause your capital ship to sink.

Many small amounts may be insignificant to us. But by investing the same amount, a rich person prevents the loss of his financial resources. Getting rich with savings are two interrelated categories. So by learning the right ways to save, you can achieve the wealth you want.

What should we spend our savings?

As mentioned earlier, saving alone is not enough. In today’s society, despite high inflation, storing money without circulating it in the capital markets will devalue it. Hence, the best way to use savings in a principled way is to invest it.

Buying currency, coins, and gold, buying property, or saving in a bank are some of the major actions taken by people. Some people enter the stock market to make the most of their savings.

The entry of people’s savings into the capital market will bring many benefits, including the prosperity of a country’s economy and industry. Note that entering the capital market requires sufficient study and knowledge of this market.

Buying stocks in the stock market is one of the most important ways to get rich with your savings.

Tips to know before you start saving:

Before you start saving, you need to make a list of the essentials of your life. By knowing these details, you can better plan for your income. Finally, with proper management of your income and expenses, you will avoid unnecessary costs.

Another point is goal setting. Defining a goal for savings can motivate and regulate this activity.

These goals can be the purchase of essentials in life, such as housing; Or it could be a valuable tool for you that you may have been waiting for a long time. Be sure to set a specific time for each goal.


One of the most important goals of working is to meet the basic needs of life and provide an acceptable level of well-being and comfort. Also, each person may need a financial budget to achieve their goals in life. Therefore, the importance of saving human life is undeniable. If you take a brief look at the lives of rich people, you will find important points, including how to save and invest.

In this article, we discuss the ways to get rich by saving. We hope you find this article useful.

“If you have any feedback about ways to save to become a millionaire that you have tried out or any questions about the ones that I have recommended, please leave your comments below!”

NB: The purpose of this website is to provide a general understanding of personal finance, basic financial concepts, and information. It’s not intended to advise on tax, insurance, investment, or any product and service. Since each of us has our own unique situation, you should have all the appropriate information to understand and make the right decision to fit with your needs and your financial goals. I hope that you will succeed in building your financial future.