Most people rely on loans to live a normal life and buy all the things that they want. And more often than not people tend to apply for loans to buy a car or a house even though they are still paying for their university loan.
That is what it is in Lebanon. The monthly income is low and the cost of living is high which always lead people to get loans and this is where the stress of not fulfilling the debt start.
Payments and expenses might accumulate. Most of the people do not plan ahead for that to happen. That being said, setting a budget is the best solution to overcome these obstacles and manage your expenses.
Gather all of your expenses per month and deduct them for your monthly salary and see what’s left of it. This way you will make sure to settle all your debts and expenses without letting them accumulate. Because if that happens you won’t be able to manage you debts anymore.
One more thing, if you go to the supermarket, the smart way to shop is by quantity. Even if you live alone, buy what you need in big quantities because this way you will be saving more.
Apply these tips and be sure to control your debts instead of them controlling you.