| January 3, 2012

2012 Money Resolutions

Consolidated Credit Offers Tips to Cut Costs and Dissolve Debt in the New Year

Start 2012 off on the right foot with a clear and concise financial plan. With holiday spending over, consumers must face the reality of what was spent. The financial experts at Consolidated Credit offer tips to pay off debt and become financially fit.

They warn consumers to be realistic about their money resolutions. Consumers must be cautious when setting financial goals, otherwise they may be impossible to maintain.

The stress of holiday overspending often leads to depression and anxiety. However, it is not how much a person owes, but how the debt affects them and what they do to correct the situation.

Someone could owe $1,000 and that could be a major burden to them whereas others may see that as a manageable amount of debt. People should seek help when they start feeling distressed. Whether a person needs to budget his way out of a $500 or $50,000 debt, there are ways to do it.

Consolidated Credit’s Tips for Dissolving Debt and Cutting Costs in 2012:

    • Keep track of spending. To better handle frivolous spending, start by writing everything down. Then start cutting back on things that are not needed and start saving.

 

    • Read all credit card statements. Make sure to read all the fine print in monthly statements. Pay close attention to see if creditors are changing the annual percentage rate (APR) to a variable rate or if they are raising rates. Pick up the phone and call credit card companies to find out if there are any changes coming.

 

    • Pay off high interest rate debts first. The most efficient way to resolve debt is by paying down the highest interest rate balances first. Once the high-interest debt is paid, tackle the next highest, and so on. Remember, to continue paying the minimum due on all other debts.

 

    • Watch borrowing. Borrowing against a home or a 401(k) to pay off debt may be convenient but it is also dangerous. People may lose their home or fall short of investing goals at retirement.

 

    • Don’t be overly concerned with paying down mortgages. Mortgages tend to have lower interest rates compared to other debt. Focus on paying down other debt first. Many times people are able to deduct the interest they pay on the first $1 million of a mortgage loan.

 

    • Revaluate insurance. The New Year is a great time to look and see if coverage is on target with current needs. Compare insurance prices with the existing policy to competitors. If the automobile and homeowner’s insurance policies are through different companies, look into combining for a multi-line discount.

 

    • Get help if feeling overwhelmed. During the holidays, it’s easy to get caught up in the spirit of the season and spend beyond your means. If this happened to you, treat this as a learning experience and resolve to do better this year. If you need help, call Consolidated Credit at 1-800-728-3632 for free financial advice or visit ConsolidatedCredit.org.

 

Consolidated Credit, founded in 1993, is one of the nation’s largest credit counseling organizations in the country and has helped over 5 million people with financial issues. Their mission is to assist families throughout the United States in ending financial crisis and solving money management problems through education and professional counseling.

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"We are really proud to recommend Consolidated Credit" Kathleen Cannon, President & CEO of United Way of Broward County. Consolidated Credit Counseling Services, Inc. is pleased to announce our partnership with the United Way as a United Way Chairman’s Circle Organization.

"We are really proud to recommend Consolidated Credit" Kathleen Cannon, President & CEO of United Way of Broward County. Consolidated Credit Counseling Services, Inc. is pleased to announce our partnership with the United Way as a United Way Chairman’s Circle Organization.

All Consolidated Credit counselors are certified personal financial counselors (CFC) We've helped 5 million people get out of debt! Call us today and see what we can do for you.

Consolidated Credit is honored to receive the 2012 Excellence in Financial Literacy Education (EIFLE) Nonprofit Organization of the Year award. The EIFLE awards acknowledge innovation, dedication and the commitment of organizations that support financial literacy education worldwide. See what Consolidated Credit can do for you.

Consolidated Credit is honored to receive the 2012 Excellence in Financial Literacy Education (EIFLE) Nonprofit Organization of the Year award. The EIFLE awards acknowledge innovation, dedication and the commitment of organizations that support financial literacy education worldwide. See what Consolidated Credit can do for you.

The National Industry Standards for Homeownership Education and Counseling are a set of guidelines for quality homeownership and counseling services. Industry professionals who adopt these standards can be trusted to provide consistent, high quality advice.
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Consolidated Credit Consulting Services, Inc. has been verified as the owner or operator of the Web site located at www.consolidatedcredit.org. Official records confirm Consolidated Credit Consulting Services, Inc. as a valid business. Call us today and see what we can do for you.

Consolidated Credit is a Certified ISO 9001 company, as verified through Bureau Veritas Certification.

Time tested and customer trusted. Consolidated Credit Counseling Services has been a BBB Accredited Business since 1998 and has a current A+ rating. Call us today and see what we can do for you.

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Time tested and customer trusted. Consolidated Credit Counseling Services has been a BBB Accredited Business since 1998 and has a current A+ rating. Call us today and see what we can do for you.

View the Consolidatedcredit.org review status

Consolidated Credit is proud to be an ANAB accredited member. Accreditation by a recognized and respected body such as ANAB ensures the impartiality and competence of our company. To see what we can do for you, give us a call.

U.S. Department of Housing and Urban Development - HUD's mission is to create strong, sustainable, inclusive communities and quality affordable homes for all. Consolidated Credit is proud to be a member of HUD and also part of the Hope Now Alliance.

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