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Financial Advice
Financial Advice: We have heard the following throughout our lives, but
some of us seldom follow it. Yes, we
try, but we never seem to do
enough of it, do we?
In today's economic disaster, this advice is more true than ever:
Spend Less
Than You make.
That also translates to: Make
More Than You Spend.
Easy to say,
and hard to accomplish.
Just how do we make this happen? And what can we do if there have been too many years of
not doing this?
While financial advice can vary - everyone has their own advice, and
the list grows long...
So here are just a few
simple rules to apply:
- Stop
using
credit cards for
any reason. Get a handle on this. If you need help, use the Contact
form for further support. We know it's tough!
- Get and use
a debit card
from your bank. Make arrangements so that you can transfer funds to it
from your checking or savings account. But keep the accounts separate
to deter theft.
- Stop
using
credit cards. Get tough with yourself. Get in your mind
the new policy of: Cash
and Carry. Credit cards carry interest with them that is
hidden when you make your purchase. Then it hits you later. Credit card
debt takes years to get rid of.
- Keep a small
amount of
money in the debit card account. If someone steals this
credit card, they are not going to get a lot out of it.
- Pay attention to how much overdraft protection
you have on the debit card. In the case of
a stolen card, the overdraft amount can also be used up. Judge wisely and
keep this amount low.
- Depending on your financial situation, you can
see about getting a loan
modification on your home, and help on your debts. Be aware that
most businesses that help you, make their money from you. Most
businesses require upfront fees for their services, so be aware and get three price quotes
before you choose.
- Get free advice from one of our senior
financial advisors. You may be able to convert poorly
producing 401k's, IRA's, CD's, etc., into a guaranteed annuity.
- You may be able to turn poorly producing
investments into an immediate
annuity. That means a guaranteed
monthly check.
Take charge
of your life...
"Protect and
grow your
hard-earned money."
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