It’s summertime and the living is easy.........or is it?
How are things in your neck of the woods? Hot and dry... or stormy and steamy? Faced with high prices, cutbacks, layoffs, lower wages, fewer hours and more mouths to feed? Just how much more “easy” is this going to get?
Here you are trying to save money, be credit smart, get out of debt and dream for the future. Credit Advisors Foundation understands. Make use of the hints and tips found in Defeat Debt this month and in the months to come to make informed credit choices, educate your family about credit basics, saving money at home, and above all: getting out of debt.
It may seem obvious but one of the most frequently discussed reasons for consumers having difficulty with debt or credit, is the concern that many consumers have never developed good spending habits.
Although our society may seem to thrive on consumerism, many families find they have little knowledge of budgeting, comparison shopping, reconciling bank accounts, creating savings plans, the cost of credit or other financial skills necessary to make educated spending choices.
Credit cards were first introduced into the United States economy in the 1950’s. Prior to that time, credit was not readily available to the vast majority of the populace. In the 50-odd years since, credit has become increasingly available and utilized by the general public. However, there has been no concerted or organized effort to educate society in the general financial knowledge necessary to make informed credit and spending choices.
While we educate ourselves about on-line investing, 401k plans, IRA’s and so on, we do little to familiarized our children or ourselves with counting money, making change, paying bills or relative value. (How long will I have to work to pay off that sale blouse on the 17.95% APR credit card, Mom?)
Staying on your CAF Plan ensures that you are learning these necessary skills.
You’ve made the start.
Become an active participant...
You’ve made the start. Become an active participant in your debt management program.
Review your statements and bills. Make your payments to the program on time and in full. Ask for additional assistance if you are having difficulty maintaining your budget or making ends meet. Notify the client care counselors if you have questions or concerns. In future issues of Defeat Debt, we will share information and skills with you and your family as you increase your ‘credit IQ’. You are on your way to being debt-free. You’ve made great strides and before you know it, you will be reaping the bounty of benefits from your efforts, determination and achieved goals!