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The line between a future of financial solvency and one of distress is thinner than you might think. Unfortunately, many people don’t realize they’re on the wrong side of that divide until it’s too late. You could call it the ostrich syndrome. You know that things aren’t good, but you just don’t want to face up to Continue reading Debt Problem – Signs to Look For – When to Get Help to Control Debt You don’t have to put a lot of effort into it to hurt your credit score. Just a misstep or two is all that’s required. Let’s look at a few ways your credit card could get dinged. Paying Late Credit card companies are notoriously prickly about late payments — even a payment that’s late by a few Continue reading How to Hurt Your Credit Score Without Really Trying The best way to begin getting the debt and spending under control is to reduce your monthly expenses. And one good place to start is to focus on reducing your variable expenses. Variable expenses include those that can be changed or eliminated entirely. Variable expenses are those that fluctuate each month, such as clothing, food, entertainment, vacations, Continue reading Reduce Spending and Debt by Looking at Variable Expenses As important as it is to start saving for retirement early, you may be better off tackling your consumer debt first. In some cases, the amount of debt you have not only affects your budget today, but it can significantly limit your options in the future. So if you’re contemplating whether to pay down your Continue reading Pay Down Debt or Save for Retirement? For most of us, debt and borrowing money is a fact of life. However, debt can also be a financial tool to provide us with leverage that we can use to build net worth and wealth that we can, in turn, leverage to enjoy life and give back to others. While cash can be used for Continue reading Use Debt Wisely to Build Wealth for Enjoyment and Sharing Here are some steps you can take to protect your cash flow during tough times. It may be a job loss, or large and unexpected medical bills. Whatever the cause, it threatens your income stream or raises your expenses. You’ll need to take drastic measures to restore your cash flow as much as possible. Eliminate Nonessential Spending One Continue reading Steps to Protect Your Cash Flow If you are struggling with how to manage your debt, start to take control by formulating your debt philosophy. A debt philosophy is nothing more complicated than crafting a financial mission statement, the structural foundation of your family’s beliefs when it comes to debt. It doesn’t need to be profound or complicated. It can be as simple as: We agree to Continue reading Your Debt Philosophy |
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