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| *Ostroff, Fair and Company>>>Financial Services |
Financial advice please.? |
single income, enough to make ends meet, not enough time left for addtional job. screwed credit. any ideas on getting over this hump. already limited all extra things such as cable. etc. thanks. there are no easy solutions, anyone that tells you different is after your money. If you have any credit card debt, I recommend you look at the advice at the Motley Fool website that talkes about how to pay down that credit card debt.(see sources) or start at their start page on getting out of debt. http://www.fool.com/seminars/sp/index.ht... From their website: A good credit counseling organization can make all the difference. These offer everything from expert advice and a sympathetic ear to hands-on budgeting help. Many will even step in -- between you and those you owe -- to negotiate repayment plans that you can handle. Many of these counseling services are non-profit organizations that offer services free of charge or for just a small fee to those who can afford it. A good place to start is the National Foundation for Credit Counseling (NFCC), a national network of Neighborhood Financial Care Centers (NFCC). Call them at 800-388-2227 to find out if there is a center in your area. Unfortunately, for every such worthy organization, there are dozens of rip-off artists preying on vulnerable debtors. Anyone who promises to "quickly wipe your record clean" for a small fee, or similar magic tricks, is probably a thief. Be especially wary of pressure sales tactics. Most reputable counselors will wait for you to come to them. Source(s): Pay Down That Credit Debt http://www.fool.com/seminars/sp/index.ht... Try to get your credit in order first. Set up payment plans and knock out the smaller debt first. Try to put up a little money here and there. Even if its only $20 a paycheck, put it aside and don't touch it. Only get what you need. I don't know about your night life but if its healthy, slow down. A couple nights a week at the bar can be expensive. Always stay on the lookout for a better paying job. Its not easy, it will take some discipline. You just gotta grind it out. Buy candles and cancel your telephone. Get a second job on the weekends like waiter, bouncer, bartender, stripper, valet and so on. If you have the internet, you should educate yourself about some home based careers like mine. You can make great money in little time and get control of your life. I will be happy to help you get started. Sounds like you need a plan for reorganize your finances. So here is a quick plan to get you started: First, payoff your highest credit card first. Make only minimum payments on all others. Once the highest credit card is paid off devote all your resources to the next highest credit card. Continue to all cards have been paid off. Secondly, develop a good personal budget. Keep all your receipts and enter them into an excel spreadsheet or money management program such as Quicken. I cannot not stress how important it is to record what you spend. Only after you are able to see were all your money goes can you make adjustments in your spending. Third, you should be thinking long term towards your retirement. Check with your employer and determine what retirement benefits are available. Verify your annual social security statement you receive each year. Start saving towards retirement, no amount is to small. The time value of money is fantastic. Fourth: Check your credit score at least once a year. Fifth: Have discipline, live with your plan. |
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