The fast-growing need to overcome our wishes in this materialistic world has made us accustomed to constant spending and neglecting the objective financial situation we are in. Whether we are just starting or we are in the process of thinking about our basic needs in the consumer society, we tend to act in an illogical manner. This spending habits of behavior are a consequence of the time we live in and all of the options in front of us. When we follow our emotions and wishes to make a purchase, we end up with unnecessary items as a result
The first thing you need to do is recognize the financial situation you are in, objectively and logically putting your future into consideration. Probably the hardest point is to see the real picture, that is why most people make one step forward and then two steps back. If you don’t face your financial reality, it will lower the quality of your life and general happiness in the long term. Some situations will request your objective reason to borrow money on whether to start your business, for family issues, career problems, etc. The crucial fact is to make a plan on how to pay back the borrowed money.
To solve such financial difficulties, you must search for a concrete solution and not just a partial solution which will lead to increasing your total debt. If you owe to one person and then borrow from another to “close the circle” you will only prolong and complicate the situation. Two persons to owe money means two different repayment time schedules and interest rates. According to Denzel Rodriguez,an expert on Velocity Banking, this is a typical example when things go wrong.
Denzel Rodriguez or Mr. Velocity Banking is known for his YouTube channel he knows how to get out of this uncomfortable situation. Denzel Rodriguez grew up with a mother in a low-income environment so he was forced to find solutions from an early age. He gives the example of people who can take responsibility regarding their finances.
His basic principle to start the assessment and move to the solution of your financial situation depends on your commitment to his methods. They are connected with four essential facts in need of correctly applying. Your expenses are firstly analyzed, incomes strategically divided, summing your total debt and routing your cash flow. As you may understand the four rules will change your financial situation for the better in the period of between 5-7 years, no matter of your past experience. You will avoid future borrowing from different persons under various conditions which is a crucial thing. Over 150 households have already taken this option and resolved the matter of 125 million dollars in total debt in the stated period from above.
Remember that, we are the ones who require advice regarding our finances whether we want to accept that or not. To receive the most out of this advice, we must commit and stick by the rules of Velocity Banking to ensure our future.