Give Yourself a Boost: Easy Debt Reduction Ideas.

Home Improvement: Ways to Save Money on New Appliances.

hema.cc1@gmail.com — Fri, 02 May 2008 11:50:40 +1000

No one likes spending money on new appliances, so most of us try to put it off as long as possible. Eventually, you get to the point where you can’t ignore it any longer. Your kids are finally out of the house or have graduated from college, and your budget has a little wiggle room in it, but you still don’t want to spend an arm and a leg. Stove, refrigerator, dishwasher, and microwave oven—they can really add up. Here are some ways you can save money and still get what you’re looking for.

Buy on sale only. This should be a given. Check the newspapers for upcoming sales or clearances. If you find something you like that isn’t on sale, find out when the next sale will be and then consider a purchase. Patience can save money.
Look for discontinued models. You can save hundreds of dollars off your purchase price if you look for a model the manufacturer is no longer making. Typically, the retailer needs to get it off the floor.
Buy last year’s model. Old version, new version—usually the only difference is the price. You can save a lot!
Buy a floor model. You can walk away with a bargain if you don’t mind bringing home a floor model. Typically, you don’t get the box, but you still get the warranty.
Look for a “slightly” damaged model. You can save money by buying something with a little scratch or dent that has no bearing on the function of the appliance and it may not even be visible once you’ve installed it.
Ask about a package deal. There may be discounts if you’re buying more than one appliance.
Ask about trade-ins. Check the yellow pages or call appliance dealers in your area to see if they accept trade-ins. Then find out what your appliance is worth.
Only buy what you need. Don’t go for models that have all the extras that you probably wouldn’t use anyway. You can save a lot of money by sticking with the basics. Plus, you have less chance of something breaking that would cause a repair bill.

About Christian Credit One, Inc.

Christian Credit One, Inc. is a national, non-profit Christian Credit Counseling organization dedicated to helping consumers achieve financial wellness through Christian credit counseling and education. Established in 1994, Christian Credit One has helped over two million individuals achieve financial security. Christian Credit One is one of the top members of the American Association of Debt Management Organizations (AADMO), Christian Credit One manages clients across the country. Personalized and confidential consultations are available in person, by phone or online. Visit Christian Credit One or call 888-767-9155.

Greg McTaggart, Certified Credit Counselor with 22 years experience, licensed by AFCPE, Director of Christian Credit One and is an expert in budget and Christian credit counseling. Having the combined experience as a licensed Real-estate salesman, Mortgage Broker, Real-estate Broker, Notary, Ace Member of the Cincinnati Credit Executives, Mortgage Assistance Counselor and Spokesperson of the radio talk show “The Money Mentor”, Greg McTaggart is a qualified Christian Credit Counselor to help you.

Click Here to Schedule an Online Consultation with a Trained Counselor

Summertime Scammers: Home Improvement Scams.

hema.cc1@gmail.com — Fri, 02 May 2008 11:50:14 +1000

Many home owners rely on independent contractors for improvements in and around the house, or the handyman for smaller jobs. Now that summer is upon us, it’s time to start those home improvement projects and get some work done. But be careful! Dishonest contractors can easily scam innocent homeowners, not only out of your money, but also by using substandard materials. Here are some red flags that you should be aware of when evaluating a contractor.

Pushes for you to sign a contract right away.
Solicits door-to-door.
Cannot find listing in the phone book.
No written information is available about the company.
Accepts only cash.
Asks for entire payment up front.
Credit card or checking account information is requested.
When you call, you only get voice mail or an answering machine.
Cannot verify license or insurance information.
Doesn’t have references, or cannot verify references.
Wants you to pull the building permits.
Offers you a deal good for only one day.
They’ll help you finance the project.

These tips can help you become an educated consumer and avoid any possible scams.

About Christian Credit One, Inc.

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Bad Decisions that Typically Lead to Debt

hema.cc1@gmail.com — Fri, 02 May 2008 11:48:00 +1000

A common thread running through many households in terms of debt is a lack of planning. Whether it is caused by ignorance or indulgence, it is crucial to recognize it and change it. The negative consequences caused by this lack of planning are many, but in particular, the three most common expenses are put at risk and lead to debt.

Home Purchases
Although it’s the American Dream to own your own home, many couples spend too much of their income on the mortgage payment and eventually, it catches up with them. Years ago, it was much more difficult to qualify for a loan but because of deregulations in the lending industry, it is now easier. Sounds good, you may think, but you can become “house poor” very quickly and not have enough money to cover other expenses. Many people choose this anyway, thinking that it’s wise to purchase the most expensive home they can get, regardless of how far they have to stretch the budget. They make the decision based on the assumption that their income will increase in the future. They didn’t plan for a slump in the economy, little or no raise, or a layoff, unfortunately.

New Car Purchases
This is another area where people get in over their head, especially for those who have a tendency to overspend. Unfortunately, many people put their material desires before their pocket books and purchase cars that are beyond their means. They don’t consider that the cost for insurance and auto repairs increase with the cost of the car. It’s so easy to only consider the monthly payment and ignore the total cost of the car. Even if you decide to sell the new car to relieve debt, you’ll be surprised to find out that you probably owe more than what you could get for it, so the burden continues. Saving for a good used car is a better decision.

Scheduled Expenses
Many people fail to plan for inevitable expenses such as car maintenance, insurance, home repairs, and medical expenses. Or, when they try to fit these items into their budget, they don’t fit. Ignoring them until they’re due causes you to pull out the plastic, adding to debt.

Without a budget, people cannot realize they’re headed for a financial crisis until it’s too late. If you have trouble balancing your income with expenses and have growing debt, go to www.CCone.org for help.

About Christian Credit One, Inc.

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Use Common Sense at the ATM.

hema.cc1@gmail.com — Fri, 02 May 2008 11:46:04 +1000

Many consumers rely on the convenience of ATM machines for cash, but safety can be an issue. Here are some simple tips to follow to make sure your trip to the ATM is business as usual.

Be selective—don’t pick an ATM machine that is in a low-traffic or dimly lit area. Find one in a public location.
Be aware—always take note of your surroundings throughout the entire money transaction. People shouldn’t be hovering in the area and make sure no one is watching from a parked car. Make sure no one follows you when you leave.
Avoid using the ATM after dark. If you have to, pick one that is well lighted and doesn’t have large bushes nearby.
Avoid using the ATM alone. Try to take someone with you if possible.
Memorize your pin number. Don’t write it on the back of your ATM card or a piece of paper, and don’t give it to anyone. Make sure no one is looking over your shoulder when you enter your number.
Avoid counting your cash at the machine. This will only entice a robber. Wait until you get in your car or leave.
Prepare all transaction envelopes in advance. Keep some at home or in your glove box. This will help you minimize the amount of time at the machine.
Check your bank statements as soon as you receive them and report any discrepancies.
When using a drive-up ATM, lock your doors and keep your engine running. Leave enough space between your car and the one ahead of you so you can get out of line if necessary.
Go with your instinct. If you feel uncomfortable, there is probably a good reason. Find to a different machine, or return at a later time.

About Christian Credit One, Inc.

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Money Matters: Keys to Financial Success.

hema.cc1@gmail.com — Fri, 02 May 2008 11:43:51 +1000

Learning how to secure your financial well-being is one of the most important things you can do for yourself and your family. No one is born knowing how to save. Even if you’re drowning in debt right now, you can turn it around by learning some basic steps, make a plan, have patience, and stick to it.

Income is essential. You need to make money, obviously. If you lose your job, it may not seem like the end of the world, but with some determination, it will only be a temporary setback and you’ll be working again. Time has proven that even for people with modest incomes who begin a plan of financial security can have success.

Don’t spend it all. No matter how much you make, you can’t spend all of your income. You have to live within your means in order to have money to save. If you are one of millions of people who are spending all your income and never have money to save, you need to cut back on expenses. It’s the only way.

Pay off any high interest debts. If you are carrying a balance on your credit card(s), focus on paying them off as quickly as possible. High interest rates are a drain on your income.

Start saving as soon as you’ve paid off your debts. Once you’ve paid off your credit cards, you’ll have the opportunity to begin saving. Take advantage of it. At the same time, get rid of the plastic. It may be too tempting to start using them again.

Start investing. Sound like a foreign word? Don’t worry. This is where your money earns money. However, it can be risky, so do your homework. A good place to start is with your employer. Take advantage of any employee 401K plan where they match the money you put into it.

No matter how much or little money you have, if you educate yourself and implement a realistic plan, you can reach your goals.

About Christian Credit One, Inc.

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Money Matters: Being Wise With Your Money,

hema.cc1@gmail.com — Fri, 02 May 2008 11:41:41 +1000

When you hear the word frugal, it automatically brings up negative connotations and is often mistaken for being cheap. In reality, frugalness is a traditional value where people are careful in the expenditure of money or the use of material resources. In American culture where consumers are constantly bombarded with advertising and pressured to spend, spend, spend, saving money has become a rarity. According to the Bureau of Economic Analysis, the US personal savings rate as a percentage of disposable income decreased to –0.4 percent at the end of 2005. It might be time to rethink your definition of frugal and begin to think of it as being wise with your money and not wasteful. Not only will you be able to save, but you’ll set a good example for your children. Here are some things you can do in your household, beginning now!

Take advantage of your local library. These are your tax dollars at work. Buying books and movies, or renting, can add up. Besides books, most libraries have video and DVD collections to check out, free of charge.
Eat out less often. Eating at home can save you a lot of money, and it’s probably healthier. If you go out twice a week, try scaling back to once a week. When you do go out, try not to be wasteful. Children’s meals often go uneaten. Try splitting a regular meal for two kids.
Cook with what is in the pantry. Often times we run out to the grocery store to pick up ingredients for a meal when you have all sorts of stuff on your shelves. Challenge yourself to use what you have Clip coupons. Tedious you say? It can be, but if you stick to the items that you buy on a regular basis, it’s money in your pocket. Find a grocery store in your area that doubles coupons and you’ll save even more.
Pay your bills online. You’ll save stamps, time and maybe some late fees if you set up automatic payments.
Hire yourself. Although it may be a matter of convenience, a lot of things that you pay others to do can be done yourself, such as oil changes, mowing the lawn, and cleaning. Wash laundry in cold water. Washing in cold water can cut your electric bill substantially, yet still get the clothes clean.
Turn your lights off! This may bring back fond memories of your parents shouting this at you when you were growing up, but, it really does make a difference in your electric bill.

Whether you live paycheck to paycheck or make a comfortable living, it’s wise to take a closer look at how you debt your money and not waste. Creating more opportunities to save is simply being wise with your money.

About Christian Credit One, Inc.

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Dealing With Debt Collectors Head-On.

hema.cc1@gmail.com — Fri, 02 May 2008 11:40:07 +1000

When you’re faced with the having to deal with debt collectors, it can be one of the most devastating times in your life. Constant mail, annoying phone calls, even embarrassing calls to your employer or family can really cause a lot of stress. Following these tips can help you alleviate some of the problems.

Know what you owe. It may sound obvious, but make sure you know the amounts owed and to whom. Mistakes can be made—you could be hounded for a debt that isn’t yours. Examine balances, interest charges, and other fees.

Know your rights. Debt collectors are obligated to treat you fairly and not use coercive tactics to collect the money. They must abide by the Fair Debt Collection Practices Act. Go to www.ftc.gov for more detailed information.

Organize and prioritize your bills. No matter what a debt collector tells you, necessary bills, such as electricity and heating, need to be on the top of your priority list.

Keep the conversation simple and focused. Don’t go on with your life story and divulge other private information, like where you work or bank account numbers.

Assert your right to privacy. Ask for all future contact to be in writing, rather that on the phone. If your don’t want them to call anymore, tell them.

Keep detailed records. Track all phone calls and correspondence. Make sure you note the agency name and the name of the person with whom you speak.

Don’t agree to anything you can’t afford or to something that will cause more problems. Avoid sending post-dated checks and don’t allow electronic payments from your account.

Get proof of any payment agreement in writing. If you come to an agreement for an amount, ask for it in writing. When you make the payment, include a letter outlining the payment agreement.

If a payment plan cannot be agreed upon, you may want to look professional advice from Christian Credit One. Go to www.CCone.org for more information.

About Christian Credit One, Inc.

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Extreme Debt Collectors: Know Your Rights.

hema.cc1@gmail.com — Fri, 02 May 2008 11:38:58 +1000

If you’ve ever been behind in paying your bills and they’ve been turned over to a debt collector, you can relate to how stressful it can be. There are certain things the debt collectors can and cannot do that you should know about.

The Fair Debt Collection Practices Act, enforced by the Federal Trade Commission, prohibits debt collectors from using false or misleading statements, harassing or abusive conduct or any unfair methods to collect debts. They cannot make false threats to coerce payment or use deceptive collection notices that falsely appear to be from an attorney or a court. In addition, they cannot engage in any sort of harassment, such as threatening violence, using profanity and obscenities, or making continuous phone calls.

What this means for you

Personal, family, and household debts are covered under this Act. You may be contacted in person, by mail, over the phone, or by telegram or fax. Debt collectors may not contact you before 8 a.m. or after 9 p.m., unless you agree. Also, they cannot contact you at work if they know it is unacceptable to your employer. To stop the calls or contact altogether, you can send a letter telling them to stop. However, they can contact your attorney if you have one. They can also contact other third parties one time to find out where you live, your phone number, and where you work. Remember to keep a detailed record of all conversations and other contact.

Knowing your rights can help alleviate some of the stress. If you believe a debt collector has gone overboard and treated you unfairly, you can report the problem to your state Attorney General’s office and the Federal Trade Commission.

For more detailed information, please visit: www.ftc.gov.

About Christian Credit One, Inc.

Click Here to Schedule an Online Consultation with a Trained Counselor

On the Road to Debt: Signs and Symptoms

hema.cc1@gmail.com — Fri, 02 May 2008 11:36:35 +1000

Typically, debt doesn’t just happen overnight. In most cases, it’s the result of consistent bad spending practices. The sooner you recognize these practices, the better off you’ll be. Here are some practices that should raise the red flag:

Spending more money than you make. It’s so easy to do this. You may not even realize it until it’s too late. You might be dipping into your savings here and there, thinking it’s just a little bit, or borrowing from friends and using credit cards. Eventually, your savings will be gone, your friends will be tired of lending you cash, and your credit cards will be maxed out.
Relying on money you don’t even have. Using credit cards and loans to pay bills and make other purchases is a recipe for disaster. Your paycheck doesn’t even make a dent in what you need every month, but you’re o.k. with it because you have a system that you’ve worked out with your credit cards. This will catch up with you very quickly if you can’t pay off your credit card bill each month.
Using credit cards for everyday purchases. Paying for groceries, gas, entertainment, and clothing with credit is a sure way to get into trouble. You may rationalize that it’s just more convenient, you get points on your card, and you’ll pay it off when you get the bill, but it takes a lot of organization and control to budget your money this way. More often than not, it doesn’t work out and you can’t pay off your bill each month.
Using credit cards when you have cash. A habit like this inevitability leads to debt. Having the mindset of wanting something, but not wanting to pay for it will contribute to debt accumulation because you still won’t want to pay for it when you get your bill. Getting into the habit of using cash will help you be more discriminating in your purchases as well as distinguish between a want and a need.
Using credit to pay off other debt. Sound familiar? Shuffling debt around from one credit card to another only increases your debt each time and puts off the idea of actually facing your financial problems. This behavior can cause a lot of stress too.

Recognizing these spending habits and avoiding them can help you steer clear of the road to debt.

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Can’t Make Ends Meet? Here’s the First Step Towards Tackling the Problem Budgeting 101.

hema.cc1@gmail.com — Fri, 02 May 2008 11:35:06 +1000

Many Americans are caught in the cycle of overspending, using credit cards, and, simply put, living paycheck to paycheck without saving any money to secure their future. Reasons for it vary from the “I want it now” culture that we’ve grown up in, to not knowing how to make a budget. No matter what your income, making a realistic budget can help free you from financial worry.

Track your spending for a month. This means writing down everything that you spend your money on, cash, credit, or debt, including your regular bills, mortgage, groceries, coffee, newspapers, etc . . . Carry a notepad if you need to. Even ATM withdrawals should be included. This step is just a necessary, preliminary step and will make it easier to create a realistic budget. Organize the categories and calculate totals.
List seasonal, annual, semi-annual, and quarterly expenses you incur, but didn’t pay while you were tracking your spending. This may include taxes, car registrations and maintenance, insurance payments, gifts, school activities. Estimate, and divide the totals by twelve to come up with your monthly expenses for these items.
Add up your monthly income (take home pay, not gross income). Don’t forget bonus pay, alimony or child support, dividends and interest, or public assistance. If your take home pay isn’t consistent, take an average for the last ten pay periods.
Make a list of categories for your expenses. You can do this on paper, or on a computer spreadsheet. Be prepared for a long list and use the information you gathered when you tracked your spending. Typical categories include rent/mortgage, gas, electric, water, TV, internet, pool care, trash removal, groceries, eating out, entertainment, club dues, child care, gasoline, hair care, and medical, but the list is endless. You can find templates on the internet, but you should customize it for your situation.
Make columns next to the list of categories—one for “projected expenses” and more for the following months.
Using the numbers you came up with from your monthly tracking and estimated seasonal expenses, fill in the numbers to total your projected monthly expenses at the bottom of the column.
Calculate the difference between your projected monthly expenses and your monthly income.
If your expenses are more than your income, you’ll have to cut expenses or increase your income.
For the monthly columns, continue recording the amounts as you pay your bills. If you come up short, change the projected amount for the category and look for ways to adjust your spending.

Remember, this is a guide to help you control your finances and know what you can afford. If you find that you’re continually coming up short, you may have to look into making more significant changes, such as driving a more economical car to eliminate a car payment. Remember, credit cards aren’t the way to circumvent your budget problems!

About Christian Credit One, Inc.

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