Four ways to effectively deal with financial stress

The US Federal Reserve has reported a new milestone for American consumers in 2017 for having the highest amount of revolving credit debt in the history of the US. Almost equal to the gross domestic product of Russia, the data from the Federal Reserve has placed the amount at $1.021 trillion, of which $ 1 trillion is attributed to credit card debt. Many have been undergoing a difficult phase in their lives with mounting financial stress and depression. Start looking at employee financial wellness programs in your workplaces to get started. Seek advice and tips on how to effectively manage your finances and how you could free yourself from the stress of financial woes.

Aim for realistic goals
Do not be tempted to lay down high goals and end up getting frustrated at how you are not able to hit your goals. While it is never a problem to aim higher, it is best that you set your goals realistically. Hitting your set goals can be more than just success, it is a challenge to feel rewarded for those successes and let you aspire for more. It is better to see yourself win in achieving your goals and seeing it develop further to fruition. You don’t have to force yourself to save $500 dollars a month when you can only afford $100. The important thing is you do not lose focus on your desire to save.

Start small and work your way up
You don’t have to establish a big business when you can start small. Learning and adapting are two of the primary values you need to focus on to start nurturing the habit of saving money. Your primary goal is to ensure that you start building the habit and start to work your way up.

Overcome temptations
This could be one tough sell because there are a lot of things nowadays that could make your jaw drop in wonder and amazement-gadgets, jewelry, clothes, cars- you name it. Spend smart instead of doing everything on impulse. There are three things that you can do to help you resist the temptation to spend. If you see something that caught your fancy, stop and think. Always remember your goal to save and secure your money.

Resolve to save money
Stand by your commitment to saving money. Take action by planning and executing your savings goals. Create a budget, work within your budget and establish a mechanism to help you reinforce your savings goals.Make a firm stand when you are about to get caught in a situation where you need to make a choice of buying or not. Make a commitment to save and stick with the plan.

What Is Your Debt Story?

Well the title post is kind of popular recently. Everybody wants to get out of debt. So the first thing is to know what the situation you are in.  For me, home mortgage loan or car loan is not include as a debt story.  For me, home mortgage loan and car loan are something that is well planned and it can turn to be big investment in the long run especially in buying home or land. What I consider as a debt story is something out of financial planning. Debt is something worst than having loan and as usual like credit card debt.

Oh I hate to say this. Yes I have credit card debt. I feel really really bad for having this problem. When you read articles cross the internet that people having credit cards debts have more stress then it’s true. Things with credit card debt is it’s not going to be lower every month. Why I said that because if you just make the minimum payment, the credit card issuer will charge you interest (now mine is 17% )base on your card balance. The percentage is getting higher compare to last year. Last year they only charge about 5%. So, even if I pay the minimum payout,you can calculate; the debt will never end. So this is the worst thing if you trap in credit card debt. It was a mistake and I admit.

Why I can trap to this serious problem? Okay, at first I always paying cash when shopping. But I heard one of my friends had a GUESS watch, really nice guess watch after redeem points when using credit card. So, I’m thinking why not using credit card so I can get free branded items in the same time? But it’s getting easy when you use credit card to shop. I do. Just swipe that card and I’m done.  It starts when I pay late for the credit card bills and they started to charge the interest. Then I concentrate to pay on time. But as i said it’s seems so easy to pay using credit card and you don’t even realize that you are overspend. Then I started to pay just the minimum payment every month and that makes my payment seems never end.

Oh I hate citibank. They just increase my credit limit means “you can shop more”. How much did I owe citibank? Total is less then $10,000. I have to admit I have this much debt.

So, what I do? I took a little advice from friend to clear my debt using a personal loan. Yes, finally I can get out of that high interest every month. What I do is I go for personal loan which the interest is less and less payment every month. I’m still waiting for the loan application approval. It’s not done yet. May be it’s though to get loan during recession time but once it’s approve and I will have full settlement with my credit card debt.  No more debt. Debt free. I wish.

How To: Bad Credit Repair Secrets

Finding The Bad Credit Repair Secrets.

It is hard for so many people who are living in bad credit. People who are living in bad credit have to live average about 10 percent to 50 percent more in expenses compare to people who are living in good credit. For these people, they always look for quick bad credit repair solution.

Yet, this problem is not easy to overcome. For those who are paying attention about this condition, they can start thinking about problems that they are in. This will bring them on credit repair secrets and how to fix credit problems quickly and with just some little effort.

The bad credit repair secrets number one is to look at the credit report that have been negatively reported to the credit agency. You can start challenging these items to the credit agency. Then, the credit agency have to verify those information reported to them by themselves. The credit agency will directly confirm this to the creditor.

After the credit agency starts the verifying process, the creditor has 30 days to respond to the questioning. And if there is no any feedback from the creditor, the credit agency will remove the negative listing reported by them from the credit report. This may be done for every negative listing in the report.

Unfortunately lots of creditors will respond to the verification from the credit agency but this may help sometimes.  There are lots of “bad credit repair secrets” to eliminate your bad credit and perhaps you may start with this one.