Do you have a lot of debt? Are you worried about managing your debt? Here are several things you can do to maintain your debt and keep your credit in good rating:
KNOW WHAT YOU OWE!
Gather up all your statements and determine how much you owe in total. If you don't like the answer, this negative exercise can give you the oomph to get going.
HAVE A SPENDING PLAN!
Have a spending plan for your income is the best way to ensure that you are spending your hard-earned money in the way you want and most importantly, in the way that assures your financial success.
REVIEW YOUR TAXES!
Review your income tax withholding. If you are receiving a tax refund of more than $600, you are providing an interest-free loan to the IRS. A better idea is to adjust your withholding -- have less money taken out for income taxes -- and use those funds earning zero percent interest to help pay down your high interest consumer debt.
START A SAVINGS PLAN!
Start a savings plan. The simplest way to avoid unwanted debt is to have money set aside for those unexpected or large expenses that we all have. When you have money taken from your paycheck or checking account and automatically deposited into a savings account, you will hardly notice. But you will be building a very important financial tool -- liquid savings. Your savings goal should be six months to a year of living expenses.
COMMIT WHAT YOU DON'T HAVE YET!
Commit money you don't have yet to paying down your debt. Use at least 50 percent of any new raises, bonuses, tax refunds or other source of additional income to give yourself a boost in paying off expensive debt.
START AUTOMATIC ELECTRONIC PAYMENTS!
Set up automatic electronic banking payments. A late payment can trigger a hefty late fee, and may result in an increased interest rate on future credit card purchases. Electronic payments will help avoid a payment arriving late and increasing the cost of your debt.
REVIEW YOUR CREDIT REPORT!
Check it for any innacuracies, you can get a free copy at annualcreditreport.com If you find errors dispute them with the credit bureau that reported them.
If you still need help contact a free non-profit agency such as nfcc.org or aiccca.org.
Once you have got your debt and/or credit secure, and are ready to look for a new home, let me know, I am here, I can help!
Jane Loveday
Licence # 01439083
Pacific Sothebys International Realty
619-519-1615 Cell
http://janeloveday.com/
http://www.facebook.com/realestatesandiego
