Get Help Before Disaster Strikes
From time to time, I have talked about saving money, debt consolidation, and fiscal responsibility on this blog. It may seem out of left field coming from a volunteer oriented blog, but it is more relavant than you realize. Many people often tend to think with their hearts rather than their heads when it comes to some financial decisions, and you need to make sure that things are stable in the long run. Going out on a limb is sometimes required, but then you find there is just nothing left emotionally or financially.
Sure, there are disasters we can’t plan for. Even in our current situation, I really think that are better ways to consolidate debt and just plain save more for a rainy day. Last week, I called up our credit card company and asked them for a lower rate. They actually gave it to us! It proves to me that it does not hurt to ask. Even if you have a high balance, but are generally paying on time, they may just budge even just 1-5% it can make a big difference towards reducing your monthly payment. If you continue to make the payment you always made, it just means you are getting a chance to pay more principle. The credit card can go back to true emergencies only. Or, another way to look at that is the $30 a month we reduced our credt card payment by, we have $30 that we can donate or save.
If you can’t come close to making any of your payments, but can afford at least 2.5% of your credit bills, credit counseling may be more the route to go. Get help BEFORE you need help so when either disaster strikes, or you have other unforeseen changes, it does not put you under!
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