Aug 4 2011
Stop The Bleeding
Whether it’s those niggling fees that suddenly appear on your checking account statement seemingly out of nowhere — though intermittent use of check cards without writing down notes all but guarantees that you’ll sooner or later miscalculate the balance amounts and be stuck with the (increasingly exorbitant) penalty — or the charges assessed by creditors for late arriving payments, your debt relief compensation schedule cannot afford any unplanned and unnecessary expenses.
Choose Your Friends Wisely
There are countless reasons to explain why Americans of any age have amassed their collection of friends (plus acquaintances, workmates, drinking buddies, and on down the line), but rarely do you hear anyone outside of rather mercenary romantic partners spark up a relationship singularly because of a respect for the other’s fiscal discipline. While you can’t be expected to drop friends entirely because of their spendthrift tendencies, there’s no harm — and, through the course of credit card debt relief, potentially dramatic savings — in distancing yourself from the actions of folks whose spending habits indicate either substantially greater incomes or worryingly limited economic sense. True friends will appreciate that you’re making a concerted effort to change your problematic finance and not suggest that you forget about your budget for the night.
Give Til It Hurts
Yes, this piece of advice may well run counter to everything else you’ve picked up regarding debt relief programs, and we’re hardly suggesting any borrowers already fighting against consumer finance burdens would do themselves a favor by truly going out of control with a charitable frenzy. At the same time, though, you don’t often hear about folks trying to avoid bankruptcy protection because they’ve over spent on their last batch of donations. More to our real point, the long and laborious road of debt relief requires that serious practitioners not just temporarily keep to the budgetary strictures as defined by a credit counselor or debt settlement professional.
Actually wiping away the whole of your credit card debt load intrinsically calls for reshaping the way that you think about purchasing transactions. Continuing to make even the most monetarily negligible gifts month after month (or annually, depending upon the construction of your fiscal regimen) might not technically shrink the size of your bills, but studies have demonstrated that such regular acts of planned charity helps reduce the temptation for those shopping binges ruinous to enlightened debt management.
There’s No Such Thing As A (Half Price) Lunch
Any borrowers pursuing a credit card debt relief plan will in all probability end up missing the guilty thrill of pointless purchasing nearly as much as the actual goods and services that they had formerly bought whenever sensations of boredom, depression, or even a whimsical mania overwhelmed the natural predilection to save and provide for the future. To that end, though this tip may also seem counter intuitive to the normal messages presented in consumer friendly literature and debt relief handbooks, you’ll want to be careful about transferring over your more keening shopaholic urges to a crazed coupon cutting delirium. Just because an item may have been discounted does not mean that it’s still a vital need, and forgetting about budgetary dictums to indulge even the superficially finest deals only worsens debt problems over time.