5 tips to help accomplish a debt free 2015

by Shelton on February 20th, 2015

filed under Debt Consolidation

  1. Be aware

The first step in solving a problem is admitting that a problem exists. Start taking a serious look at what you are spending and why. What is causing your spending or financial crisis? Are you underemployed? Do you have medical or personal issues that reek havoc on your budget? Regardless of the reason your finances are in trouble, the first step in fixing them is changing your habits and acknowledging the situation.

  1. Select a strategy

There are various methods and books written to assist in the goal of eliminating your debt. Two of the most used are the avalanche method and the snowball method. The avalanche approach begins with tackling the highest cost debt first. Debt with higher interest rates grows faster than cheaper debt so beginning with this debt will loosen up large amounts of your budget as you pay off larger items. The Snowball method pays smallest debt and uses the sense of accomplishment and the freed money in the budget to give confidence and finances to keep “the ball” rolling.

  1. Debt consolidation

Debt consolidation is essentially a loan. Debt consolidation only works if you’ve completed step #1 and are certain that you have tackled the issues that encourage your overspending. By freeing up the debts on all your credit cards and moving them to one place and creating one bill, you are better able to manage your debt; however, you’ve also freed up your access to available credit. So, beware.

  1. Work out your target

Your target is not always the sum of your total debt load. You can prioritize expensive debts like credit cards and auto loans. Cheaper debt like student loans and mortgages are usually less expensive debt and are far less detrimental to your financial health.

  1. Reward yourself

The economics of the situation is simple; people are motivated by goals, typically intrinsic goals. Don’t be afraid to reward yourself for your hard work. When you’ve set your target and achieved it treat yourself to something special. Don’t be afraid to spend your money after you’ve paid your debt. Your goal should be responsible spending because that is a healthy goal.

Debt Consolidation USA Shares Tips In Looking For Debt Relief Companies

by Shelton on February 20th, 2015

filed under Debt Consolidation

Debt Consolidation USA recently shared in an article published recently on how consumers who are deep in debt can look for debt relief companies that can help them get out out of debt. The article points out some tips in making sure that consumers are not scammed in the process of looking for a reliable debt relief company.

Miami, FL (PRWEB) January 12, 2015

Debt Consolidation USA recently shared in an article published recently on how consumers who are deep in debt can look for debt relief companies that can help them get out out of debt. The article titled “How To Find Reliable And Trustworthy Debt Relief Companies” points out some tips in making sure that consumers are not scammed in the process of looking for a reliable debt relief company.

The article starts off by explaining how looking for a debt relief company may not be on top of the priority list of consumers at the start of the year. But the article points out that consumers need to make their personal finances a priority all throughout the year. It needs to be main concern at all times.

It is also because of the fact that there are some parents who, over the holiday season, preferred that their children would have a great Christmas season at the expense of their finances and this is the time to face those purchases. And while it is ideal to take care of the debts on their own, there are some people who either needs help with the process or just does not have enough time. In these cases, it is best to look for debt relief companies.

The article points out that starting the search using the database of a reputable industry organization is a great start. Some examples would be with the American Fair Credit Council (AFCC) or the National Foundation for Credit Counseling (NFCC). The reason for this is that scrupulous companies would not waste time getting accredited with industry watchdogs.

It is also a great idea to ask around and get referrals from people that you trust. They might have gone through some financial troubles and needed the help of debt relief companies. The article just reminds consumers that what worked for some people may not exactly work for them. Each has different circumstances that has to be taken into account.

To read the article, click this link: http://www.debtconsolidationusa.com/debt-relief-2/find-reliable-trustworthy-debt-relief-companies.html

For the original version on PRWeb visit: http://www.prweb.com/releases/tips_when_looking_for_a/debt_relief_company/prweb12437025.htm