Getting back on Financial Track
Most people start bright-eyed and bushy-tailed in the New Year, eager to achieve their new goals. After a few weeks and months, the enthusiasm to lose weight, pay off debt or quit a bad habit often wears off. When your enthusiasm slips and the bill collectors resume their calls, it’s the time to seek out debt counseling.
According to a report by Bankrate.com, there are five easy ways to get back on track again if you gave up on financial goals. An experienced and certified credit counselor with Christian Credit Counselors will take the time to educate, motivate and inspire you to get out of credit card debt and build wealth.
Re-visit your goals
Before giving up on your plan to get out of debt in the New Year, remember your original thought process. What was the reason you wanted to get out of debt in the first place? Was your original goal too ambitious? A trained credit counselor can help you get on a realistic and do-able Debt Management Plan. By having a monthly payment you can afford, you’ll be able to make real progress toward your goal of being debt free.
Pulling your credit report
When you go through debt counseling, you will learn about how credit reporting agencies determine the score they assign to people. You should pull your credit report at least once a year so you know if there are any mistakes to correct. You want an accurate and up-to-date credit report.
Considering the bigger picture
Debt counseling can help you see the bigger financial picture beyond just getting out of credit card debt. The more you know about your money, the more you can get it to work for you. For example, you may decide to save for retirement. If you meet the income guidelines, you could qualify for a tax saver’s credit. After agreeing to a Debt Management Plan, you may get inspired to save up for a home or learn more about first time homebuyers programs.
Making it all automatic
With a Debt Management Plan, you will make a monthly payment that satisfies your creditors. Once you know how much to allocate for debt repayment, you can also set aside money for savings. Having money automatically taken out of your checking and saved for retirement and other goals is another way to renew your commitment to your financial goals.
At Christian Credit Counselors, we commit to helping our clients achieve their financial goals. We can work on your behalf to lower the interest you owe on your credit cards as well as work out a plan to satisfy everyone.
Do you want to know more about debt and how you can make smart financial decisions now that will help you secure a more prosperous financial future? Sign up for our newsletter for monthly money tips.