Didnt Save for a Rainy Day? 3 Ways to Get out of a Financial Bind

Guest Post- Dixie S

Practically everyone knows that they’re supposed to put away money for a rainy day. In fact, having a substantial emergency fund is one of the keys to financial security. For many people who are recovering from a big financial setback or who are just starting out their independent lives, a rainy day fund is more of a goal than a reality. This means that when they get hit with a disaster, they will scramble to find a way to pay the bills. If this sounds like you, try the following three tips to get out of your financial bind.

Increase your income

The best way to get the money to pay for something is to earn it. Look for a part-time job that you can do around your full-time work schedule. Many bars, restaurants, and retail stores look for weekend and night-time help, and working a lot of hours will help you keep your expenses down. You may also want to consider offering your services as a babysitter, lawn mower, handyman, or even opening an online store to sell (Read More….)

Got credit card debt? How to Dig Yourself Out of the Hole

Credit card debt can hurt your personal finance badly, making it hard to get ahead. Minimum payments alone can add up to hundreds of dollars a month. It is important to avoid credit card debt in the first place, if you are already in debt, it is important to get out now. There are a few simple things you can do to ease the financial burden and be on solid ground again.

Stop

Before you can fix any problem, you need to get at the root of it. Stop spending more than you make, if needed, stop using credit cards. You can use just cash, or debit cards, to help you from overspending. No matter how hard you work, if you do not get the root of the problem you will continue the vicious cycle.

Garage Sale

Doing a quick garage sale can net a thousand dollars or more in a weekend if you have enough stuff. This can go directly to the debt, and knock out a small portion of it without even trying. Not only that, but it will clean up the house, and enable you to see what you wasted money (Read More….)

Debt Consolidation And You

Debt has become more and more of a problem due mostly to the recession that began in 2008, and has carried on until recently (and even then it isn’t recovering fast enough). When debt becomes such a big problem, there are only a select few routes a person can take: file for bankruptcy, try their hardest to pay off the outstanding debts, or consolidate their debts. Each choice has its benefits and drawbacks, and they vary from person to person as to whether the choice will be a good fit.

Why Debt Consolidation?

Debt consolidation is an attractive choice for many. It makes managing your debts much easier because all of your debts will be in one place, and they will all be paid off through one lump sum payment a month, instead of many. Debt consolidation is also a good choice because it lowers your overall interest rate, and thus makes the debt increase at a much lower rate and then it becomes easier to pay off in the process.

Below are some things to consider that will help you find out if debt consolidation is the right route for you:

1. Your Interest Rates Are Soaring

This is especially important for credit (Read More….)

Want To Get Out Of Debt? Dont Rely On Debt Settlement Companies

For millions of Americans who want to get out of debt, the smooth advertisements of the “debt settlement” companies are a little too hard to resist.  They promise to settle your debt for pennies on the dollar.  They promise to get you out from under credit card bills that you can’t pay.  But do they get the job done?

Well, for the most part, no.

The U.S. Government Accountability Office recently announced that an extensive investigation found rampant fraud, abuse and misrepresentation in the debt settlement industry.

The following is a quote from a GAO report to a Senate committee about what the investigation discovered….

While we (Read More….)

Five Tips That Can Help You Get Out of Debt – How Consumers Can Legally Eliminate Debt

Five Tips That Can Help You Get Out of Debt – How Consumers Can Legally Eliminate Debt

By Ryan Worthington

Are you a consumer who ran into some financial trouble that has spiraled out of control? If so, you may be looking for tips on how you can get out of debt. If so, keep reading on for some helpful debt relief tips that you should implement today!

1 – Decide to Take Action

It is one thing to research your debt relief options and another thing to actually go through and implement them. Implement them is what you want to do. If you are serious about getting out of debt, be truly serious. Getting back on your financial feet isn’t too difficult, but it isn’t very easy either. Know and be prepared for some financial ups and downs.

2 – Focus Your Attention on Debt Settlements

When it comes to seeking debt relief, you have a number of choices. Three common choices include bankruptcy, consolidation, and settlement. Your best option is likely settlement (Read More….)