Month: September 2016

(49) Set up Automatic Payments on All Borrowed Money

With the increased banking regulations today, banks are hemmed in on where they can make money and are just waiting for you to make late payments so that they can tighten the interest screws on you. Don’t let them. Start automatic payments on all of your credit cards and loans for the minimum monthly payment. We don’t recommend that you[Read More…]

(43) Always Use Windfall Cash to Pay Down Debt

Anytime you get in a windfall of cash, use it to pay down debt rather than buying a present for yourself. This includes tax returns, bonuses at work and, yes, your increased salary from finding and taking a better job. Most people, when they get a better, higher paying job, will crank up spending and debt. Be smart, use the[Read More…]

(40) Always Use Price Comparison Websites

Once you have made the decision to commit yourself to getting out of debt and rebuilding your credit, you will see ways to begin freeing up money in many areas of your life to focus on reducing that debt. One way to do this is to always use price comparison sites before buying anything. Take it a step further and[Read More…]

(37) Understand the Difference Between Debt Settlement & Debt Consolidation Before Trying Either

If you are considering debt settlement or debt consolidation as two potential ways to relieve the debt you are carrying, make sure that you understand the difference between the two and the pros and cons of each. In its most simple form, debt settlement reduces the amount of debt you have, while debt consolidation reduces the number of creditors you[Read More…]

(27) Create a Financial Plan

Create a long-term financial plan and include where you want to be in a year, five years, 20 years. Things happen to change the best laid plans, but you need a plan to begin with and then adjust it as the reality changes.

(23) Refinance Loans at Lower Rates

If you have managed to stay current on the balances you owe, check with your lenders to determine if there are lower interest rate loans available to you. Refinancing can be a dramatic way to lower your monthly costs and get loans paid off more quickly.

(21) 5 Ways to Get Out of Debt

There are generally five ways for you to consider getting out of debt including: Debt Consolidation Debt Management Bankruptcy Debt Settlement Use a Combination of Approaches There are pros and cons to each that you must carefully consider with the help of a qualified financial and legal professional

(17) Change How You Spend Money

If you are fast and free with your money, you need to changing your spending habits. Anytime you are tempted to spend money, ask yourself this: Can I afford this purchase without putting it on a credit card? If the answer is no, then you can’t afford it.