T IPS F O R GE T T I NG YO U R
FINANCES TOGETHER TODAY Lou Mancusi
It’s not uncommon to experience financial problems that end up affecting your future. One mistake can lead to an inability to get ahead or to maintain a good credit rating. Once you decide to take better control of your financial situation, you could be faced with a long journey, but your determination to better your situation will pay off!
Lou Mancusi
LIST ALL OF YOUR DEBTS By listing each debt and the amount owed to each creditor, you can get a visual image of your finances. This will help you devise a plan for paying your debts off. Even if you have to concentrate on paying off one debt at a time, try to develop a strategy for paying everything off within a year. Lou Mancusi
TACKLE THOSE CREDIT CARDS Lou Mancusi
Until now, you might have just been paying the minimum due for each billing cycle. If that’s the case, you already know that all you’re doing is paying the interest. Even if you just pay $5 or $10 extra each month, that will bring you that much closer to paying off that debt.
START SAVING TODAY!
People put off saving money because they think they can’t afford it. In truth, you can’t afford not to start saving your money and getting started is easier than you think. Many banks offer automated savings accounts that will withdraw a specific amount from another account or from payroll deposits each week. Another option offered by banks will round up your purchases and transfer the difference to your savings account.
Lou Mancusi
CREATE MONEYFREE DAYS A money-free day or a no-spend day is a day during which you spend absolutely no money. You can stay home to make it easier or look for activities that don’t cost you anything. Either way, adding these to your routine will help you reduce overall spending.
Lou Mancusi
SET UP PAYMENT ALERTS
One of the biggest problems people encounter in maintaining good credit is failing to make payments on time. Even being late by one day can drive down your credit score. Contact your creditor to find out if they offer mobile alerts, so you won’t miss these important due dates.
Lou Mancusi
While making a budget is an important first step in taking control of your finances, your primary goal should be to eliminate debt!
Lou Mancusi
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