Some of my friends are in debt and under great pressure.
Decided to give it a try
A gambler's last bet is usually the most fatal.
Live or Die
In fact, there are definitely more deaths than births.
So don't give yourself the opportunity to fall into the last gamble state
What to do if you fall into debt?
You can't communicate with the bank about the money. Try to repay the principal and interest regularly.
Personal money must be communicated
If it is a loan shark, renegotiate the interest, principal and repayment plan
If there is no interest originally, the repayment time is set and the repayment time is re-negotiated
In short, the saved cash flow must be used to the best advantage.
The interest on a 1 million loan is now more than 30,000 a year.
Don't think about the principal for now; is there a way to settle the interest of 30,000?
This is very likely possible.
First maintain normal cash flow, do not default, and do not become a dishonest person.
Don't be afraid of becoming a dishonest person; just don't become a deadbeat in your friends' eyes.
More frightening than financial bankruptcy is the bankruptcy of credibility.
As a trader.
You owe 1 million, but you only have 100,000.
First consider making 30,000 from 100,000, rather than making 1 million.
Because making 1 million from 100,000 can only be a big gamble, and it's very likely a dead end.
But you will become more stable and smoother if you make 30,000 from 100,000.
I used to often receive private messages asking to borrow money.
Most of them are also trapped in debt and living in fear.
Occasionally, there are some friends around me who become this state.
I will tell them this principle.
Never ignore calls, and never go missing.
Try to solve loan extensions and high-interest rate issues through communication.
Relying on your own trading to pay interest.
You must have the attitude and determination to repay.
You will find that you have grown a lot again.
You also understand many other truths in life.
If you can turn things around in such an environment, it shows you have been forged.
If you can get out of the low point, your life will be different from now on.
If you only want to be an irresponsible deadbeat.
Then you missed the test that heaven set for you.
You also missed a strong opportunity for yourself.
Just think of it as Sun Wukong being thrown into the furnace of Taishang Laojun.
Of course, the best state is to control a reasonable asset-liability ratio.
Do not fall into a potentially dishonest state.
The global optimal solution is to always keep 20% of assets in cash.
Locally, this configuration may completely waste funds efficiently.
But many excellent people and companies do not die from asset bankruptcy.
Instead, it is bankruptcy caused by cash flow interruption.
When leveraging, try not to leverage in stocks.
Because the risk of liquidation is very high.
You must leverage but only in real estate.
Because as long as the mortgage and interest are paid, it's okay.
Unlike in the secondary market, where you can take your assets by just inserting a needle.
The real economy has been very poor in recent years.
Many traditional industry bosses encounter this problem.
Of course, some traders took a gamble and ended up like this.
I hope you can get out of difficulties soon.