Counting
down – Ready for Zero
When I was a
struggling college student, and who isn't I had debts everywhere. It was to
the point that I only paid urgent ones to keep the fridge running, the lights
on – you get the drift.
When I graduated
I figured out that I would have to do something about this, as it was getting
critical. So I started to research. Talk about a massive stress headache. There
are so many options and so many variables. At the end of the day I wanted
someone to just tell me what to do. How to repay these debts asap and not to accumulate
more on the way, but to also maintain a reasonable standard of living. Yes,
luxuries would have to remain just that.
Get help
My plan was to
have someone organised my finances and to say at the end of the day, this is
what you have left after paying utilities, other bills and lowering my debt(s).
So this is your play money.
I couldn't deal
with all of the options, but knew that I wanted something simple, that told me
what to do and that showed me graphically how I could do it.
It was
recommended that Ready for Zero an online program would meet my requirements,
as well as my obvious lack of any financial sensibilities.
How Ready for
Zero works
The way it works
is that you own up to all of your debts by entering the accounts that you want
to pay down, and it was all of them. Ready for Zero then calculates how long it
will take to pay off and the slider tool shows what the repayments will need to
be. This means you can adjust the slider to reach what is comfortable and
achievable. It will still state that it will take this amount of time to pay
off at the current repayment. And don’t forget that debts accrue interest from
the financial institutions and so your debt actually increases the longer you
have it.
Advantages
Another asset is
that Ready for Zero shares your data with other financial institutions who may
well want your business but at a better rate of interest. Which bank doesn't love an indebted student, or in fact anyone who owes money?
Ready for Zero offers
a straight forward course of actions whereas other plans gave too many options
for me to comprehend. Take into account that my financial sense was at that
stage non existent – my eyes used to glaze over. But, I did know that I had
better get it sorted quickly.
I think another
asset that is appealing is what others had to say about Ready for Zero. Indeed
as a humanities student I liked the graphical representation of my debt going
down – it was a source of pride. I think the big decision was whether to tackle
the higher interest rates debts first or the little ones and receive the self
gratification that I had indeed made progress.
I liked that I
was given a pat on the back when I achieved certain goals.
Ready for Zero
works in lowering and indeed paying off your debts, and they do not offer you
the temptation of yet another credit card. See more at: http://scholarshiphelpcenter.blogspot.com/
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