The Finance Man

Sharing with you all of my personal finance advice.

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Why Select Credit Counseling Services?

July 9, 2012

Credit counseling is a client system that has proved to help get lots of people out of debt. Once you register for consumer credit counseling, you are given credit management services, along with other solutions to help eradicate debts.

The Fundamentals of Consumer Credit Counseling

Should you be indebted, credit counseling services can provide you with solutions, including credit consolidation to help you get out of debt in time. Credit counseling may not get you the speediest results, however with time it is beneficial by saving your money as well as preserving your credit score.

The debt management plan is the approach that the majority of credit counseling services use. With a debt management plan, you enter into a payment plan with the consumer credit counseling company. These approaches start with the credit counseling company bargaining your monthly interest levels with lenders. The next stage is developing a personalized monthly installment plan to the credit counseling company. The credit counseling service considers your monthly installment and splits the money up between your creditors and pays off your monthly payments so you don't have to. You will probably pay a monthly charge by the counseling company as well.

It typically takes consumers anywhere from four to five years to make it through the debt managing process. This process can save you money simply by decreasing interest levels and splitting up payments. It also may make your like simpler since you don't have to make several payments to lenders. You simply keep up with a single repayment to the credit counseling company.

Other Rewards

Not only do consumer credit counseling services create a individualized debt plan for you, they also teach you proper credit managing. For example, the credit counseling program may sit down with you and take a look at your finances. Then a personalized credit management plan can be established so that you will have the ability to stick to this budget. Once you have got a credit management plan in place, you can then stick to the debt management plan and pay off your monthly obligations.

Debt managing plans do not lower your credit score. Often times,, other methods such as debt settlement can damage your credit score. When you can't afford to pay back the debts that you owe, creditors will claim your account as settled or as delinquent. Should this happen, your credit rating will be diminished and you'll find yourself having to encounter numerous credit hurdles in the future.

If you're a customer of credit counseling services, you won't have to take out extra credit to finish the program. However, when you finish the process you will be qualified to be eligible for credit because you will have a positive payment record for several years and you will not need to stress about any additional harm to your credit score overall. This makes consumer credit counseling a possibility for the majority of debtors to legitimately look into. 

Planning a Wedding Without Having to Spend a Fortune

July 2, 2012

Your wedding day is the most significant day of your lifetime. However, you shouldn't be having to pay for it for the remainder of your life. Making sure you maintain a leash on your wedding spending is imperative. You shouldn't wreck your finances simply to splurge on a larger church. It is possible to still have your dream wedding day without paying a fortune.

Keep It Nearby If At All Possible

You will certainly save a lot of money by having your wedding in your hometown. This also will make it less difficult for your friends and family who live near you. By holding it in your area, you'll save money on gas, hotels, and having to offer food. It doesn't require a personal finance professional to recognize that staying local saves you money.

Don't Be Afraid to Request Assistance

Don't be scared to let your family and friends know you're anxious about finances. They can help you come across great deals and give you suggestions for catering companies, music, along with a reception space. A nice way to save money is to hold your wedding reception at a local park or maybe at a close friends home.
You could be surprised to discover that somebody you know could be in a music group. They should be thrilled to play for you for a discounted price. You probably have a member of the family who loves to prepare food, request they cater. People you are close friends with will probably be thrilled to give you assistance to help you. Supplying a cash bar for the wedding reception can be another great way to lower costs and help you with better credit management

Stick to a a Clothing Spending Plan

It truly is excessive to spend thousands of dollars for your wedding gown. It is essential to remember the monetary needs of people in the wedding party also. You can use this as a perfect reason to create a budget for your own spending as well. Spending considerably less on what you have on at the wedding ceremony will allow you to spend even more on the honeymoon.

Coordinate Honeymoon Plans Early On

Come up with honeymoon plans as quickly as you are able to. This is the wisest decision coming from a personal monetary standpoint. You will get better bargains on all honeymoon plans when you book ahead of time. You also get to pick from a larger selection of resorts in the area. Don't be hesitant to postpone the honeymoon if it may cause excessive financial tension. There is plenty of time to take that perfect vacation later in life.

Your wedding is an event you should remember for the rest of your lifetime. However, you shouldn't have to be paying off this day for the rest of your lifetime. Develop a spending budget and stick to it, so after your big day, you will not have to concern yourself with paying off any debt. 

Easy Ways to Control Your Finances in College

June 8, 2012

Paying for higher education is difficult for many students, therefore it is necessary to exhibit good money and credit management capabilities now to avoid insurmountable financial debt as well as other financial hurdles in the future. Fortunately, there are several guidelines you can adhere to during your time at college to help you to manage your financial situation better.

Take Advantage of Your Student ID

Upon registration, the majority of colleges supply students with college identification cards. You may be able to present this student ID at several neighborhood companies and receive a special discount. If you like to go out and about fairly frequently, this trick could help you save lots of money. Your student ID can make you qualified for fare markdowns on public transit.

Being a Practical Grocery Shopper

Groceries are usually amongst everyone's leading costs. Food is not always inexpensive, however, some products are a lot cheaper than others. Helping for helping, dinners you cook at home from scratch are generally much less costly than pre-packaged dinners. Meals you make yourself will also be significantly more fulfilling compared to, say, a bowl of ramen noodles or perhaps a TV dinner.

Live at Home

For the most part, families are usually eager to help their children develop good financial habits and cut costs, and one way they might directly assist is by permitting you to move in with them. Even if your folks charge rent payments, you're probably still going to pay less than you would for an apartment or dorm room. Residing at home might also mean free laundry washing, as well as an occasional home cooked meal.

Get Roommates

Assuming that everybody concerned is trustworthy, rooming with other people can be a mutually beneficial experience. When shared bills are split down the middle, everyone saves a lot of money. The money you save by having multiple roommates may be allotted to other necessary expenses, or even invested in savings.

Learn How to Manage Credit

Good credit management is essential to financial stability. As a student, you should just open up one credit card, and limit your spending on that card to strict requirements. If this is your first time opening a credit card, you won't want to charge just about any unnecessary expenses on your credit card, since the interest rates are likely to be high. The most important thing you can do after getting your first credit card is to be certain you pay off the balance on time.

Be Smart about New Expenses

Do you need new clothes, textbooks or perhaps a backpack? There are many ways to save some money by purchasing gently used merchandise at consignment stores or through used book manufacturers. Every once in a while, you will need to buy clothing and books, so any way to save on these items can help you in the long run. Also, many bookstores will pay for you to sell back books that you no longer use for a portion of the original price.


If you work or have some other income source while you're attending college, try to allocate a part of each paycheck to your savings account and leave it alone. By the time you are finished with college, your balance could possibly be substantial enough to allow you to move into your own place, pay credit management firms, as well as further your education. Developing a respectable sum in your savings account also provides security by knowing that you are prepared for any possible future unexpected expenses.

If this advice is a little too late for those of you facing daunting debt, it is never too late for help. Credit Guard Debt Management can help you consolidate debts and get on the right track.

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