The easiest solution to the above topic is to spend less than you have. In a perfect world, such approach would be the solution to almost everything. Unfortunately, this world brings plenty of unexpected occurrences, which most of the time cost money, the one you do not have. A wise man would now say, you should have saved up the money you did not spend, which provides you now with a solution. Wrong! Problems rarely take a look at your wallet and make sure they do not overburden your savings.
There have been seminars held, books published, religions started, all with the premise of helping you, dear reader, with your wallet, or rather, with removing the contents of your wallet. There is no book or seminar that properly prepares you for any unexpected downfall. The solution to your problematic life is all the while right in front of you.
It should be noted that loans are not the solution to everything. Quite to the contrary, they can be the end of everything, in fact they are the end of the economy and capitalism, we just do not know it yet. What can loans and in particular credit cards do for you, that a seminar or a wisely drawn graph cannot do? Provide you with enough headroom, that you never hit the ceiling. Which means do not go and get credit cards and loans and go to Aruba for two months. That would be fun, but also very much destroy your financial standing.
Planning is the catch
You get a direct debit card and ask for an overdraft. You also get a real credit card, where you pay back what you take from there in monthly instalments. As next, you go to your Bank and see if you could get a pre-approved loan, which will be kept on hold, or you simply get the loan and not spend the money, but put it into a savings account as a bond, where it resides for at least a year, getting very nice percentage rates. You see, such an approach provides you with money that you have handy, where you can juggle a bit here and there, but where you are constantly having money available, if need be. This only works if right now, while you are reading this, you are not in debt, which you probably are. You just went to a loan site, what are the odds?
Loans that cover other loans
For the time being, we will simply forget about the mortgage loan, or the short-term loans such as the logbook loan. You have some debts, but these are not already constricting your jugular. You go to your Bank and get a loan that covers all other outstanding debts, has a manageable payment plan, maybe leaves a quid or two for the plus side. You also calculate to pay off all your credit cards. Then, you start with the scenario as in the previous chapter, only without the additional bank loan. I gather that this category is also not for you, because your loan officer just pitifully looked at you and said that you are on your own.
If you are still in good standing, which implies you have a good job that delivers good money monthly, then despite being blacklisted, you still can make the previous idea work for you. How, you ask? You go to a debt consolidation place, or talk about debt consolidation with your bank. See, if you ask for a loan, the bank officer immediately thinks you will go to Aruba, or some other less senseless thing, which ends in you spending the money elsewhere. But if you go into the Bank with your listed debts, asking them to help you consolidate your debts, they will most likely help you out, if your paycheck is coming to them every week. If not, there are plenty of banks which will love to provide you with assistance, I would opt for a direct competitor.