Wastage

Not many people appreciate how much is wasted in, for example:

• high interest rate premium payments

• extended interest rate payment periods

• accepting unfavourable covenants in your loan obligations.

Do you accept whatever loan obligations are provided to you by the bank?

Do you find yourself unable to negotiate the terms of the loan because you do not know what to discuss about?

Do you find the whole loan negotiation process one of trial and error?

Debt obligations are negotiatable, and can be structured to be more favourable for you.

A part of that loan negotiation process is to realise how much of a loan burden you could possibly take on. You need to be aware of what your current financial situation is, and make decisions on how much of a loan expense you can afford on a monthly basis.

These matters are discussed in Ramit Sethi's book I Will Teach You to be Rich: No Guilt. No Excuses. Just a 6-Week Program That Works (Second Edition). Available on Amazon Kindle Books and Kinokuniya.

Are there other ways in which you have found yourself wasting your personal finances?

Are you committed to financial products that are not yielding a satisfactory return?

Are your commitments previously made for financial products now in need of revisting and reconsideration?

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