Money: Credit and Debt Management

Take control of your debt today

5 Easy Steps to Manage Debt

• Track your spending. You should know how much you can afford to spend each month and how much you need to save for the future.
• Develop a Debt Plan. It is extremely important for you to pay off all your credit card debts and anything else you owe. You could end up paying tens of thousands of dollars in interest if you only pay the minimum amount due each month.
• Consolidate Your Debt. Whether your plan is to work with a debt consultant or doing it yourself, consolidating your debt into a low single monthly payment can eliminate unwanted stress.
• Get a Lower Credit Card Rate. It doesn't hurt to call your credit card company to request for a lower APR. If you are making payments on time, have a good record then your chances of lowering your interest rates are good.
• Set a Budget. Separate the "wants" from the "needs" and you could save hundreds each month.