Credit Counseling and Other Ways to Get More Conscious About Spending

Jeanne McTaggartCredit Counseling

Credit Counseling

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.

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