Did you know that the lottery winners will ruin within 1/3 of the time limit? It does not necessarily apply to you, as it is not a lottery. However, it is now easy to get a surprise when your payment increases significantly. The question is, can you continue your life in this case or do you need a concrete-proof plan?
Hide from others
If you don’t necessarily want to make cruel decisions, then the best strategy is to stop telling others outside your tight family for a while that you have doubled your salary.
Because the extra money can be distributed very well by you. In this case, unpleasant loan applications or investment ideas come in handy. The other is practically offensive to the refusal, “because you have it now”. Then it’s no better if you jump in irresponsibly and lose money.
Make friends with the situation first, arrange your thoughts before others start organizing…
Stay in your current life
You don’t even play the game theory with the idea of what to do with double pay. You are still looking for a net 240e forints, you live from it, and you manage it. You’ll get 480e forints for your work tomorrow.
More money always has greater responsibility. In this case, you have to make a very important decision about extra money:
- you invest in your scene
- or your future?
If the present…
Suddenly we have a lot more money. In this case, we often forget about ourselves and in exchange for past struggles, “I deserve shopping”, under which we buy all kinds of stupidity.
This is called symptomatic treatment, which is a cause of addiction over time. Certainly, you also had a lot of love for something bigger (flat, car, vacation), but it wasn’t enough money. You are desperate and you have a desperate thing (phone, computer… etc). Right now, you felt better about it, but next week it was all hopeless.
If the future…
Then, of course, we will remain in our present life situation and try to distribute / allocate / invest the surplus, which will raise our standard of living in the long run. We start to do more volume things (apartment, car, etc.), because we already have our cover.
Count your bad credit
It is important to state that there are good and bad loans. A good credit is for example AXC 10 + 10 or AXC 10 + 15, which is guaranteed for 3 years with a 3% interest rate. Since you do not get a better offer on the market than you do in life, it is better to keep this loan and invest / invest than to get rid of the loan as soon as possible.
However, 85% of the loans are particularly bad loans, the most important of which is the interest rate, which is usually higher than the average risk you would get on your investment. You need a strategy to get rid of it.
For example, the student loan is set. the worst type of credit is included, with the annual increase in interest rates at the rate of interest. I think the zero step in this case is to get rid of it even at the cost of using all the surpluses for the next x month.
Let’s move step by step
Many families have credit lines, credit cards, student loans, mortgages. Even if your payout doubles, you won’t be able to pay them immediately. Don’t be misunderstood because you will be disappointed.
Set up a strategy and calculate how much time you can get rid of these obligations.
Don’t get more bad loans
Another feature of bad credit is that it doesn’t create value. Such is typically a new elec- tronic device, a holiday loan or a property you buy for your own pleasure (your own holiday home) or a car.
The sudden financial surplus may encourage you to pay extra. Do not linger on this and accidentally don’t spend your money on things that never provide passive income for you.
Remember: you got an opportunity to get out of the debt spiral. Don’t work for the money, but the money will work for you. Live with him.
Useful credit is worth picking up
I think there are justified cases where a strategy may involve taking a loan. Credit is money in this case, which you will be looking for in the future, spending it in the present and paying interest for the interim period as a cost.
Because you have doubled your salary, you can’t buy a flat, park, store, or invest in something. However, your payment may already provide enough coverage to realize these.
A typical example is the purchase of a small parlor, which in time can generate passive income for you (rent, value of real estate).
Go straight on holiday
If possible, go as soon as possible to rest and have a “everything in vacation” covered by a 1-2 month salary surcharge. This is a very important point, as you have to reward yourself, which can give you the strength to continue.
You should not “wear out” if you are looking for more. You have to use some “loosening”, otherwise you will be dissatisfied and you will be thrown out once in a computer of 1 million forints.
When we suddenly received a larger amount of money, everyone was given a mandatory amount. That was the reward. And the deal was that we could not make money useful, just luxury and something we wanted. So we spent a small amount of money, while 98% remained for useful use.
I will help you choose your retirement savings. In the framework of a featured and free service, I will present a concrete offer to several insurers at the same time. You don’t have to fight with insurance agents! I’ll do everything for you with savings and give you an immediate solution to any problems that may arise in the meantime. Comfortable, fast, reliable.
You are guaranteed (much more comfortable) pension insurance under the same conditions as if you were going to the insurer. Indeed! In many cases, I can provide you with individual discounts (favorable bonus system, favorable terms) that you will not get at the insurer.