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Stealth • 7m
How to move out of the debt trap?
1) Visit Debtloop (my startup) 2) subtract your needs (food, fixed emi,etc) from your monthly income. Only take fixed emi which cannot be postponed here, not credit card over due 2) now you got the free cash flow per month and use it to pay credit catd debt, etc.
@parag First pay all your debts and never take any loan until younhave that much money or financial backup to take it. It's really tough to manage your finances these days and beat the inflation. But focus more on earning as much as you can, upskill yourself if needed and earn good money to get out of this trap.
By never taking any EMI’s or big loans. If you already have then first focus entirely on closing that debt. This is a long topic. Happy to talk if you have any specific problem.
Care to elaborate?
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