Stop Ignoring The Warning Signs

Oct 4th, 2013 | By | Category: Legal
dontignorethesignsIt really is so important to keep track of your money, especially so that you have it when you really need it for major purchases, or emergency situations. 

With your additional capital every month, you should consider investing it. Set goals for what you are going to hold onto as extra spending money and which funds will be directed towards capital.  Be careful though. With the economy in its present condition, putting savings into varied sources makes a lot more sense. Keep some of your money in your savings account and some in your checking account.  This will help make sure access to cash is there when you need it.

Make concrete financial plans to ensure your personal finances are managed effectively. This plan will encourage you to stay on track, and stop you when you become a spendaholic.

If you’re married then you will want the spouse with the best credit to apply for loans. If your credit is poor, rebuilt it slowly by using a credit card cautiously and repaying the balance religiously. Once your credit score has improved, you’ll be able to apply for new loans.

If you have been contacted by collection agencies, be aware that debt cannot be held on your record past a certain number of years. Find out if the statute of limitations on your debt has passed, and don’t pay a collector who tries to collect time-barred debt.

What Can You Do


You can’t repair your credit without getting out of debt! You’ll need to cut back your spending so that you can completely pay back all your debts. Reduce your food bill by eating at home more and going out less on weekends. It can be hard to eat in all the time, but it saves so much money. If you really want to be able to repair credit problems, you’ll have to reduce spending somehow, and this is a good way to do it.

You should get a savings account to save money in case of an emergency. Depending on your situation, you may choose to save in order to get out of debt or for a future expense.

Always pay your utilities on time! If you don’t make timely payments, it can have a detrimental effect on your credit. Also, most utility companies charge a late fee. Paying your bills in a timely manner will help you gain control over your finances.

As mentioned above, managing your finances now will give you the ability to save up for larger purchases later.

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