Do Debt Consolidation Programs Really Work?
While many people argue that free markets are the engine of capitalism, it is fair to argue that the fuel to that engine is consumerism and greed. We find lack in our lives, we desire and we covet. We dream of Mac Mansions and big screen TV's. So what happens? We outspend our income.
Yes, we drive the economy and stimulate growth, but we redraw on our mortgages and reach our eyeballs in credit card debt. It is an easy trap to fall into; in fact we are supposed to fall into it. Our entire economic system is built around this trap.
Like a bear caught with his leg in a metal jaw, you may feel like once you are in, you are in. There is no way out for you, right? Wrong! You can control your finances once again! It is hard work and you need to get serious, but you can do it!
Come on... Get Real!
Are you ready to get serious about your financial situation? Come on, stand up. Do some stretches, we are in for a long session! You should start by making a budget. Start by listing your assets and your liabilities. Consider some credit card debt management strategies.
How much are things costing you and what are they really worth? Cars and houses that you have a loan or a mortgage on will likely be worth more than the debt owing. If you have credit card debt, this will probably not be the situation. Make a monthly budget of your typical expenses, the important thing is to be honest with yourself. If you are outspending your income, you are going to need to cut some fat.
Can you give up some luxuries? Go out less or bring your lunch to work instead of going out for dinner and buying your lunch at work? You may even need to make some more serious changes like buying a smaller and more economical car or even selling your house. Once you finish your budget - put it somewhere that you will see it daily, like on your fridge.
If you are reminding yourself of your responsibilities and the benchmarks you have set for yourself you are more likely to stick to them. Commit yourself to keeping a tally of what you spend in future.
This way, you will find out exactly where your hard earned money is REALLY going!
Tell me about Credit Card Debt Management...
If credit card debt management is a part of your financial problem, it is probably one of the first that you should fix. The interest rate on credit cards is huge, four or five times as much as a regular home loan. Work this cost out over twelve months and you are spending a fortune.
The best thing to do is to cut them all up right now! Work out what you owe and look at debt consolidation programs that can roll all of this debt into one. If you insist on the need of a credit card for internet purchases or plane tickets, look into a debit card.
This works exactly the same as any credit card, except that the money is debited from your regular savings account.
This means that you are not spending money that you do not have. Good credit card debt management is integral to any healthy financial situation. Late payments on credit cards will send your credit rating down the toilet; even being thirty days late can leave a little black mark against your name.
What are Debt Consolidation Programs? And how can they Help?
If you have numerous credit card debt and auto loans, debt consolidation programs could be a great solution for you. If you are tired of your letterbox being filled with bills and your debtors ringing you all day long, debt consolidation programs can stop this from happening. All of your debts are combined in one easy payment.
As you just have one debtor now, you are able to negotiate a better interest rate, making your repayments cheaper. In turn, you can pay off what you owe faster. If you are frugal with your new monthly budget, you can even make some extra payments to get rid of that debt faster.
Finally, What about a Debt Consolidation Home Loan?
There are different variations on the debt consolidation programs. One option that can save you money is a debt consolidation home loan. This works pretty much like any debt consolidation home, except that the loan is secured against your property. This provides collateral, meaning the risk to your lender is lower. In turn they can offer you a lower interest rate. The fees involved with a debt consolidation are usually much lower as well.
Yes, we drive the economy and stimulate growth, but we redraw on our mortgages and reach our eyeballs in credit card debt. It is an easy trap to fall into; in fact we are supposed to fall into it. Our entire economic system is built around this trap.
Like a bear caught with his leg in a metal jaw, you may feel like once you are in, you are in. There is no way out for you, right? Wrong! You can control your finances once again! It is hard work and you need to get serious, but you can do it!
Come on... Get Real!
Are you ready to get serious about your financial situation? Come on, stand up. Do some stretches, we are in for a long session! You should start by making a budget. Start by listing your assets and your liabilities. Consider some credit card debt management strategies.
How much are things costing you and what are they really worth? Cars and houses that you have a loan or a mortgage on will likely be worth more than the debt owing. If you have credit card debt, this will probably not be the situation. Make a monthly budget of your typical expenses, the important thing is to be honest with yourself. If you are outspending your income, you are going to need to cut some fat.
Can you give up some luxuries? Go out less or bring your lunch to work instead of going out for dinner and buying your lunch at work? You may even need to make some more serious changes like buying a smaller and more economical car or even selling your house. Once you finish your budget - put it somewhere that you will see it daily, like on your fridge.
If you are reminding yourself of your responsibilities and the benchmarks you have set for yourself you are more likely to stick to them. Commit yourself to keeping a tally of what you spend in future.
This way, you will find out exactly where your hard earned money is REALLY going!
Tell me about Credit Card Debt Management...
If credit card debt management is a part of your financial problem, it is probably one of the first that you should fix. The interest rate on credit cards is huge, four or five times as much as a regular home loan. Work this cost out over twelve months and you are spending a fortune.
The best thing to do is to cut them all up right now! Work out what you owe and look at debt consolidation programs that can roll all of this debt into one. If you insist on the need of a credit card for internet purchases or plane tickets, look into a debit card.
This works exactly the same as any credit card, except that the money is debited from your regular savings account.
This means that you are not spending money that you do not have. Good credit card debt management is integral to any healthy financial situation. Late payments on credit cards will send your credit rating down the toilet; even being thirty days late can leave a little black mark against your name.
What are Debt Consolidation Programs? And how can they Help?
If you have numerous credit card debt and auto loans, debt consolidation programs could be a great solution for you. If you are tired of your letterbox being filled with bills and your debtors ringing you all day long, debt consolidation programs can stop this from happening. All of your debts are combined in one easy payment.
As you just have one debtor now, you are able to negotiate a better interest rate, making your repayments cheaper. In turn, you can pay off what you owe faster. If you are frugal with your new monthly budget, you can even make some extra payments to get rid of that debt faster.
Finally, What about a Debt Consolidation Home Loan?
There are different variations on the debt consolidation programs. One option that can save you money is a debt consolidation home loan. This works pretty much like any debt consolidation home, except that the loan is secured against your property. This provides collateral, meaning the risk to your lender is lower. In turn they can offer you a lower interest rate. The fees involved with a debt consolidation are usually much lower as well.