Debt Counseling: A Personal Action Plan for Financial Success

Jeanne McTaggartCredit Counseling

Personal Financial Progress

When your stomach is tied in knots every time you think about your finances, or if you turn your phone to vibrate so you won’t have to deal with bill collectors, you may want to seek out debt counseling. A lot of people feel hesitant at first because they aren’t sure what to expect. Once they find out there will be a clear financial plan that includes action steps to make their financial situation better, the knots in their stomachs quickly disappear.

With a reputable company such as Christian Credit Counselors, you will work one-on-one with a trained counselor who isn’t judgmental or critical. The entire goal of debt counseling is to make real progress on your personal finances by getting out of debt in a way that saves you time and money. Our trained credit counselors immediately put you at ease.

Establishing a realistic budget

Many people are surprised to find out the reason they got into debt isn’t because they were bad at math, didn’t make enough money or were frivolous with their spending. Oftentimes, it’s simply because they didn’t have a simple budget that tracked expenses going out and income coming in. Some people have unrealistic budgets based on income they project they’ll earn in the future. In order to live below your means and save, you need to account for any actual money you receive as well as bills, debt and expenses.

Committing to a plan

After getting a better handle on what you can afford to spend each month on your necessities and obligations, you’ll be in a better position to commit to a debt repayment plan. What’s great about Christian Credit Counselors is the fact they negotiate a lower interest rate on your behalf. They get your creditors to get on board with a specific Debt Management Plan. You’ll make one monthly payment that satisfies all of your creditors.

Changing old habits

Just as you can form bad habits, you can also adopt new financial habits that will help you increase your net worth. With debt counseling, you will discover that debt often leaves people with negative net worth. While you pay off your debt through debt consolidation, you will be taking other steps to change your financial future. One action step might be to save 10 percent of your income into a Roth IRA for retirement and emergencies. Another action step might be to find free activities or ways to spend less.

Having achievable financial goals can make you feel empowered. Watching your debt quickly decrease can be an exhilarating experience that renews your faith. Certified credit counselors will take the time to understand your specific financial situation so they can offer prudent advice to improve your credit score and build your net worth.

At Christian Credit Counselors, we provide debt counseling services. We have helped more than 300,000 Americans get out of debt, in many cases paying off debt 80 percent faster. For more information on debt counseling, please contact us.

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.

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