Comments on: How to Avoid a Renewed Debt Crisis in Africa http://www.one.org/blog/2009/05/05/how-to-avoid-a-renewed-debt-crisis-in-africa/ Thu, 09 Feb 2012 15:05:27 +0000 hourly 1 http://wordpress.org/?v=3.0.3 By: David hogard http://www.one.org/blog/2009/05/05/how-to-avoid-a-renewed-debt-crisis-in-africa/#comment-566008 David hogard Wed, 04 Nov 2009 11:50:56 +0000 http://www.one.org/blog/?p=5258#comment-566008 Set goals on useful things you want to have and try to avoid spending on useless stuff. After a short period of time you will see that it's an easy way of getting more valuable things instead of having a lot of junk. Don't have credit cards unless you are able to pay at least 80% of your monthly balance, otherwise the compound interests will keep growing and you would never pay your total debt. Keep this line in mind: I own the money, it doesn't own me. And the most important thing: avoiding debt and having a personal budget is not something you make from one day to the other, you have to change your mind and be disciplined with the rules you've set to yourself. http://letterdash.com/saver/avoiding-dept-even-if-you-are-young-and-not-earning Set goals on useful things you want to have and try to avoid spending on useless stuff. After a short period of time you will see that it’s an easy way of getting more valuable things instead of having a lot of junk.
Don’t have credit cards unless you are able to pay at least 80% of your monthly balance, otherwise the compound interests will keep growing and you would never pay your total debt.
Keep this line in mind: I own the money, it doesn’t own me.
And the most important thing: avoiding debt and having a personal budget is not something you make from one day to the other, you have to change your mind and be disciplined with the rules you’ve set to yourself.

http://letterdash.com/saver/avoiding-dept-even-if-you-are-young-and-not-earning

]]> By: Jonathan Paul http://www.one.org/blog/2009/05/05/how-to-avoid-a-renewed-debt-crisis-in-africa/#comment-565360 Jonathan Paul Thu, 15 Oct 2009 10:17:34 +0000 http://www.one.org/blog/?p=5258#comment-565360 It seems everyone is now concerned about debt. After years of free spending in a good economy the reality of debt has sunk in.Stay away from credit cards. This is the easiest way to get into debt.Live below your means. There is no better way to guarantee no debt than to live below your means.Recognize the value of money. You work hard to make money so you need to work just as hard to keep it.Stick to a budget. A budget is a spending plan. If you don’t have a budget it is easy for spending to get out of control.Make saving money a priority. You should be saving money from every paycheckLearn to distinguish between wants and needs.Thanks a lot blogger for such a nice post about avoid debt . Thank u :-) Keep blogging It seems everyone is now concerned about debt. After years of free spending in a good economy the reality of debt has sunk in.Stay away from credit cards. This is the easiest way to get into debt.Live below your means. There is no better way to guarantee no debt than to live below your means.Recognize the value of money. You work hard to make money so you need to work just as hard to keep it.Stick to a budget. A budget is a spending plan. If you don’t have a budget it is easy for spending to get out of control.Make saving money a priority. You should be saving money from every paycheckLearn to distinguish between wants and needs.Thanks a lot blogger for such a nice post about avoid debt .

Thank u
:-)
Keep blogging

]]> By: Rich http://www.one.org/blog/2009/05/05/how-to-avoid-a-renewed-debt-crisis-in-africa/#comment-565040 Rich Mon, 28 Sep 2009 16:20:19 +0000 http://www.one.org/blog/?p=5258#comment-565040 Very well said Juergen. However, it's very unrealistic for any country to look at something such as grants. Giving money has always had only one real motivation,.. to get something else in return. Since most countries have little to offer these days... Very well said Juergen. However, it’s very unrealistic for any country to look at something such as grants. Giving money has always had only one real motivation,.. to get something else in return. Since most countries have little to offer these days…

]]> By: Juergen Kaiser http://www.one.org/blog/2009/05/05/how-to-avoid-a-renewed-debt-crisis-in-africa/#comment-562684 Juergen Kaiser Tue, 05 May 2009 14:16:01 +0000 http://www.one.org/blog/?p=5258#comment-562684 It is certainly laudable to improve lending practices and to improve the allocation of scarce resources for the poorest countries as much as possible. However, it would be naive to assume that (a) grants will become available to any extent that would really make a difference for low income countries, and (b) that the massive new lending at concessional and even more at non-concessional terms will not lead to a new debt crisis. So, the crucial question, in fact is: Are we heading for an another 23 years (like from 1982 to 2005, when creditors finally cancelled most of their claims on the poorest countries)? Or shall we have any mechanism in place that would allow countries to receive a quick, fair and comprehensive exit from their new debt burdens, if this turns out to be necessary. AFRODAD has recently worked with others on proposals for a debt arbitration mechanism. This should be an essential part of the picture. It is certainly laudable to improve lending practices and to improve the allocation of scarce resources for the poorest countries as much as possible. However, it would be naive to assume that (a) grants will become available to any extent that would really make a difference for low income countries, and (b) that the massive new lending at concessional and even more at non-concessional terms will not lead to a new debt crisis. So, the crucial question, in fact is: Are we heading for an another 23 years (like from 1982 to 2005, when creditors finally cancelled most of their claims on the poorest countries)? Or shall we have any mechanism in place that would allow countries to receive a quick, fair and comprehensive exit from their new debt burdens, if this turns out to be necessary. AFRODAD has recently worked with others on proposals for a debt arbitration mechanism. This should be an essential part of the picture.

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