When you are drowning in debt, it is so hard—maybe impossible—for you to take advantage of many of the luxuries we have access to here in America. Maybe you started out in luxury, living outside of your means. But now have more debt than you can handle and are wondering how your next paycheck will even cover your bills. Receiving credit counseling could be a great option for you. Christian Credit Counselors is a non-profit organization that wants to help get you on the right track so you can pay off your debt and start paying for the things you need to and want to be paying for that you haven’t been able to. Here is a list of the top 5 things you could do after receiving credit counseling.

Pay off debt. This is a huge one. It may take a few years but it will take a lot less time if you consolidate your debt and start paying a lower interest rate.
Build your savings. Any smart person has an emergency fund of savings for those times when things just come up. The bigger the emergency fund, the fewer life events will seem like emergencies.
Start saving for retirement. Hopefully you have already been doing some of this but if not, after paying off debt it is time to start! Set yourself up for a successful future.
Save for your kids. Many parents like to have a college fund for their kids so they don’t have to start off their careers in debt. With college costs continually on the rise, your children will be thankful for whatever you can give them.
Actually have some fun! Once you don’t have debt looming over your head, you can save money for vacations, that new camper or boat you’ve been eyeing, or whatever else your heart desires.
If this sounds like a distant dream to you, contact us today at Christian Credit Counselors. We can turn this dream into a reality.

One of the reasons people get into debt is they spend almost effortlessly without any real thought. By submitting to credit counseling, you actually take back control of your personal finances. When it comes to money, it’s all about staying in the present. Take a mindful approach by creating awareness of your financial habits and credit card debt. With credit counseling from an established Christian credit counseling agency, you can trust the advice you get based in positive core values and Christian principles. According to a recent article by time.com, it’s quite common for extra expenses to creep up over time until you notice you’ve reached a credit limit. The article points out a BlackRock survey of wealthy people showing almost half believe inflation is a high risk to their personal finances. Other top concerns include an expensive mortgage that prevents them from saving for retirement. To get spending under control, your credit counselor will assist you with four simple financial habits and practices.

Getting a simple budget in place

Your budget does not have to complicate your life. In fact, it is extremely simple to reduce anxiety. Experts with Bankrate.com say one fifth of people in the U.S. do not even have a budget. Another one fifth of people walk around with a “mental budget,” in their minds. When you meet with a Christian credit counselor, you design a budget that is similar to a life’s mission statement. The process starts by collecting all of your credit card statements and evaluating the real possibility of debt consolidation.

Using more cash

Another tip is to use more cash to pay for what you need and want. Sadly, experiments find that people with credit cards willingly pay as much as 80 percent more for something they want compared to people using only cash. Stick to your gut instinct by putting credit cards away while paying down debt with a debt management plan. A debt management plan often rewards you with a lower interest rate while you meet your financial obligations.

Going retro with finances

Whether you are a baby boomer who remembers the days of using post-it notes and cash or a young millennial who does everything online, consider a few retro practices to keep it real. Using a post-it note or piece of paper with your financial goal written on it encourages you to reduce spending when you stick the note around your debit card. As far as harnessing technology, use it to remind yourself constantly of how much you spend. Sign up for notifications that remind you anytime you use your bank car. Keep track of your spending online and on paper.

At Christian Credit Counselors, we work hard to help our clients manage their finances and get out of credit card debt. We also help you lift your credit score. For more tips on controlling spending, please contact us.

As more consumers receive credit counseling, an incredibly positive result is a drop in household credit card debt. According to a recent piece by nerdwallet.com, household debt for American consumers went up this year, but mainly due to mortgage and student loan debt. The good news is credit card debt went down by 3 percent. For people who sign up for a debt management plan, credit card debt quickly becomes a burden of the past. The Nerd Wallet research showed the average debt balances for different types of debt. By eliminating credit card debt, it’s easier to tackle all other kinds of debt including mortgages, auto loans, student loans and personal loans.

Looking at the average balances

Sometimes it’s fun to compare yourself to other consumers, getting an idea of what kind of predicament other people face with their finances. A Christian credit counselor gives you complete privacy and helps with a positive approach. Instead of reinventing a formula for success, consider consolidating credit card debt. The debt consolidation approach works for many people who want to find financial peace. As far as average balances, Nerd Wallet found in just one-quarter or three months, credit card debt went down about 3 percent while mortgage debt went up almost 2 percent. Student loan debt went up 1.69 percent.

Figuring out your net worth

When you receive credit counseling, you lay everything out on the table as far as credit card bills. It’s also good to get a financial checkup. Figuring out your net worth is a simple calculation that involves adding up all of your equity, assets, money and then subtracting what you owe. The Nerd Wallet study showed the average balance on mortgage debt is about $171,000. The average auto loan balance is about $27,000, while the average student loan balance is about $49,000. The average credit card debt is much less at about $15,000, but the interest rate on credit card debt is significantly higher. Paying off credit card debt with a debt management plan is a key secret to financial success.

At Christian Credit Counselors, we help you improve your credit score over time with financial education and tools. We help consumers get out of credit card debt by positively confronting their debt. Talk to us about how we work with creditor to lower your interest rate and work out a plan. For more information on credit counseling, please contact us.

It is easy for debt to become overwhelming, especially when you do not have a concrete plan for eliminating it over a set period of time. Many individuals will let things fester for a while, thinking that they will eventually start making more payments when they become more dedicated or get a raise. If you do not feel completely confident with your plan to get rid of debt, you should get credit counseling.

Let Professionals Guide You

While you may have your own expertise, you can get guidance from a professional who knows their finances. Instead of struggling to come up with your own financial plan, you can follow a path that is guaranteed to leave you in a positive financial position after everything is said and done.

Tackle the Issue Early On

If you do not manage to catch your looming financial issues early on, you may end up digging yourself a huge financial hole, in which climbing out becomes even more challenging. By catching it early on, you will not only take a huge step by asking for help, but you will set yourself up for a bright financial future.

Live Positively

Problematic finances can easily keep someone from feeling happy on a daily basis. It is a problem that does not just go away, so it requires direct action to start making progress. Getting credit counseling is the first step towards making a change that will help you live your life positively.

The longer you remain in debt, the more money that you pay towards interest charges. These charges can prevent you from making any progress on your debt, even when you are making consistent payments.

Asking for help can set you on the right financial path, so please contact us today.

If you feel awkward about asking about credit card debt and a poor credit score, you aren’t alone. Often, people feel timid or embarrassed to talk about money. When you receive credit counseling, you gain knowledge that will help you improve your personal finances. Trained Christian credit counselors are not judgmental about your financial background. According to a recent article by wisebread.com, there are five debt counseling questions many consumers feel too embarrassed to ask. It’s not always smart to ask family and friends, not just because you don’t want them to know about your financial problems. Your family and friends often have good intentions, but share misinformation instead of helpful and accurate tips for overcoming debt.

Should I declare bankruptcy?

If you have too much credit card debt to handle, you have likely considered bankruptcy. In most cases, you don’t need to take that route. A more positive option is to consolidate debt with a debt management plan that lets you pay back your debtors but at a lower interest rate. A debt management plan gets creditors off your back, which makes bankruptcy unnecessary.

What are alternatives to debt settlement?

Debt settlement is a bad word in the world of personal finances. In many cases, debt settlement programs are scams. While bankruptcy is an alternative to debt settlement, it’s a poor one. With bankruptcy, people often elect to file either Chapter 13 or Chapter 7. With Chapter 13, you still pay back debt but it’s “reorganized.” With Chapter 7, you often lose your car and any possessions of value. Of course, with a debt management plan, you avoid all the downsides of bankruptcy and debt settlement scams.

How do I deal with credit card debt?

If you wonder how to deal with crippling credit card debt, you likely have high interest credit cards with a high balance. Experts suggest consolidating debt instead of trying to transfer to a credit card with a lower rate. When you make a balance transfer, you often run up the original credit card debt instead of leaving it at a zero or low balance.

How can I boost my credit score?

To boost your credit score, get out of credit card debt and pay your bills on time every month. Avoid taking out a loan on a car that you can’t afford. Many consumers think they have an affordable car payment, but sign up for bi-weekly payments or payments every other week. Consider whether a particular payment fits into your monthly budget or whether you are overextending yourself.

Is there such a thing as good debt?

After you sign up for a debt management plan, you have more hope. Some people wonder whether there is good debt and bad debt. Bad debt is any debt at a high interest rate. If you make a 5 percent on your money by investing it, but pay 20 percent in interest on a credit card, you don’t make financial progress. As far as good debt, most people agree a home mortgage and student loan debt is healthy.

At Christian Credit Counselors, we answer tough questions for our clients. For more information on credit counseling, please contact us.