This article seeks to help you with paying your debts — and any other person who has issues with paying debts. Sadly, manna from heaven ended with the Israelites in their sojourn to the promised land. Hence, you need to be intentional if you ever want to be debt-free.
Everyone has daydreams that take them to realms that are exciting. Realms that empower them with brilliant ideas they believe can change the world in an instant; such that they are willing to spend — even if it means taking a loan — any amount to spin such ideas into reality. Some are not committed enough to act upon these ideas while some do. Sadly, a good number of the latter group end up with excruciating debts that make them regret ever taking the step to act upon their dreams.
Interestingly, some argue that all dream chasers must face challenges which include debts. Inasmuch as the proponents of these arguments have strong points to defend their stance, we don’t fully agree as some of these debts return the dreamer back to the starting point. Sometimes debts are necessary but it is key that they inspire progress.
Common Mistakes of Debtors
1. Hole up somewhere and avoid everyone.
They avoid those they owe and do not owe. This is a wrong approach as peace cannot be found by avoiding life.
We cannot find peace by avoiding life- Virginia Woolf.
This is a pure truth you must understand as someone trying to pay their debt. You have to be accessible and open to those you owe, and avoid the temptation to hole up.
2. Take up further loans with promises of interest to pay up existing debts.
This only postpones the trouble, multiplying it as it does. Also, try to avoid money that is not yours in this period as you might be tempted to use it to settle your debts.
3. Not being open.
When you are open and accessible, negotiating with your creditors is way easier. To negotiate you would need to have or be working on an assured source of income. The source might not outrightly help in paying your debts but it must be able to help you build up towards paying back your debt.
4. Jumping on any new project that appeals to them.
They become quick to commit to them financially ignoring the fact that they are in debt. To tackle this, one needs an accountability partner that he or she respects to help check such commitments.
Further, on negotiating payback plans, after getting a sustainable income source; why not start up a periodic savings plan?
Working your Way Out
With a periodic savings plan, you are committed to settling the loans on your own terms. You can inform your creditors of your progress — say monthly — such that they would be able to actually see your committed efforts to pay them back. Creditors appreciate openness and commitment.
Hey dreamer, how about you start walking out of that debt today? Start here.
Stay winning with Cowrywise!
Financial Calculator
I was introduced by a friend of mine, but the problem is am still scrared. Though I have registered hope my money is save?
Yes, everything is fine. Just as the article shows, we are under strict regulation.
Please how will I know my balance and how to withdraw my money from cowrywise
Hi Bashirat, it’s easy.
Your Stash balance will show in the Stash tab on your homepage.
While all funds in any of your plans will show under each plan.
Good evening,I had being trying to continue with my registration but stock at the scan stage for the security of one’s account. Kindly help.
Thanks for the assurance ?
Hi, please i made savings today through my mobile app just like the way I usually do it, but it doesn’t reflect in the balance, so how else do i go about it?
Hi ?? Can you please confirm that it now reflects? If not, please reach out to us at support@cowrywise.com and we’d be happy to get that sorted for you.
Thanks man, my complaint has been resolved, Cowrywise is the best ?
???
Is cowrywise still legit
Good evening just wanna be sure if can trust cowrywise in savings money.. I hope I didn’t ask too much?
Pls can you show me your license number on SEC
Hello aside from saving
How can I invest on the app
Hi Ayo, we have a range of financial planning and investment products for you. Feel free to check out cowrywise.com/invest to see our range of investment products.
Hi, good afternoon my name is Peace is your company registered under SEC is it cowry investment securities LTD and cowry Assets management LTD as stated?
Why Cowrywise ask for my BVN and my credit card number,why not acct number..
Information told us not to expose our BVN to any person
it’s as nice as I thought so I think is best investing with cowrywise app
I will try and start saving with small amount
My issue with this is they are asking for my bvn which I’m in daunting to know the reason because it’s risky to share bvn to any online company just like that.
Pls can I know the reason cowrywise is asking for Bvn
I heard that all chinese banks will be close down soon, please hope cowrywise is not also among
I do not think that cowrywise is a Chinese bank Esther