The death of a loved one can bring both trauma and hardship, especially when it’s unexpected. You have barely begun the grieving process as medical bills and statements begin to fill your mailbox. Some callers are compassionate and understanding, while others press for payments as concern over unpaid bills lingers. Read more
Archive for month: February, 2016
As the holidays wind down and schedules return to normal, it is common to take inventory of your finances. If strict budgets were not kept over the last two months, you may find that the incoming January bills are much larger than anticipated. After the shock and dismay over what you really spent passes, it is time to get down to the business of paying off the holiday debt so it doesn’t linger on your balance sheets for years to come.
When debt is left to linger it can lead to a financial crisis not far down the road. Companies spend millions in advertising each year to convince you that their products are not merely wants, but insatiable needs. When you buy into these messages you can be left with large amounts of debt that can take decades to pay off. This is especially true when only minimum balances are addressed each month. Now is not the time to access blame, but to tackle the problem at hand and focus on workable solutions. Read more
Rosa Luxemburg made a profound statement when she said, “Those who do not move, do not notice their chains.” Carrying heavy debt can be like chains that keep you from financial freedom. Getting in a daily routine can numb you from the chains holding you down and prevent you from gaining the financial freedom you truly desire.
As you turn the corner on another year, there are habits you can put in place right now that will lead to greater success and release you from the financial bondage of debt. Read more
Starting the New Year with an assessment of where you are and what progress you have made over the last 12 months, will create an environment where you can move forward. It essentially gives you a starting point for your short term and long term goals.
ere are Here are 7 Strategies to Help You Assess Your Current Financial Status:
- Were any payments missed or late in the previous year? With credit cards, a payment that is even a single day late, can result in late fees averaging $35 per event. A late or missed payment could wind up as a negative reflection on your credit file potentially reducing your credit score. When this occurs, it drives up lending costs and can make it more difficult to qualify for rentals or other applications that use credit parameters. Late payments are also an early indicator that you are headed for financial trouble because you are living beyond your means. Using credit cards to supplement your income is never an effective long-term strategy.