October 24th, 2017

Archives


“Raise” your debt.

How can raising debt be helpful, you might say? Here’s what we mean.  If you are due for a raise, allocate some or, ideally all of that extra money to paying down your debt. This is money you have been living without so use as much of it as possible...


Save more in order to spend less.

Typically when we think about reducing debt, we think about the best approach to paying off credit cards or finding ways to slow unnecessary spending.  We often think of unnecessary spending as items like that expensive cup of coffee or those must-have shoes. But we can also find ways to...


Buy with cash.

Of course paying cash isn’t likely to be a realistic option for major purchases like a home, a car, or maybe even a dishwasher. But for any purchase that isn’t a true necessity, make an effort to wait until you have been able to save up the cash before you...


One card is all you need.

There are constant temptations to open credit card accounts – whether it is bonus travel points, short-term low or no interest promotional periods, special discounts for initial purchases with a new department store credit card, or a variety of other limited-time offers. While there is a benefit to responsible ownership...


Spend less than you earn.

Duh, you say? Well if it was that easy, nobody would be in debt, right? So the philosophy is simple but the execution simply isn’t, at least for most people.  One of the first steps most any financial counselor would recommend is developing a budget that shows how much your...

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