| "Let no debt remain outstanding, except the | | | | even more surprised by how much you save if you |
| continuing debt to love one another, for he who | | | | set up a reasonable budget that the whole family can |
| loves his fellowman has fulfilled the law." (Romans | | | | live within. If you decide not to budget it will be a |
| 13:8) | | | | waste of money, not time. |
| 1. Are you paying bills in no particular order? Housing | | | | 4. Have you prepared for an emergency? This fund is |
| should be the number one priority each and every | | | | not really an option; an emergency is bound to |
| month. After the mortgage or rent payment, vehicle, | | | | happen sooner or later. If you are not prepared for |
| groceries, and utility bills should fall in line. Secured | | | | it, you will only be digging deeper into the financial |
| debts are obviously more important, since they can | | | | hole. You'd hate to have to pile on more charges to |
| be taken away from you through foreclosure and | | | | the credit card, especially when you can prepare in |
| repossession. Unsecured debts will need to be paid | | | | advance. Even it is just twenty dollars per pay cycle |
| too, but the importance of food, shelter, clothing, | | | | that you save, this will add up and save you big time |
| and transportation always trump the credit cards. | | | | when that time of emergency comes. |
| Make sure that you are paying the most important | | | | 5. Are you charging your purchases instead of paying |
| things first, so in case of a set-back you don't find | | | | in cash/debit card? I have always said that credit |
| yourself in a bad situation. | | | | cards equal convenience. It is a lot easier to throw |
| 2. Have you been monitoring your credit reports? | | | | the credit card down than it is to write out a check |
| You should be checking your credit report at least | | | | or count out your cash. This is definitely what the |
| once a year. Many have errors and you will be doing | | | | credit card companies want you to believe. How |
| yourself a disservice by not pulling them frequently. | | | | often do you use your credit card on those |
| They are crucial for obtaining better interest rates, | | | | insignificant purchases when you could have just as |
| landing a job, and stopping identity theft. Your credit | | | | easily used cash or even your debit card? This raises |
| score also determines how high your interest rates | | | | your balances and costs you more money in interest. |
| will be on loans, such as vehicles or home mortgages. | | | | Why not use cash, check, or a debit card and save |
| You can receive a free credit report on-line at | | | | yourself some money? Using this method of |
| Keeping an eye on your credit report will keep your | | | | payment will not only save you money, but will help |
| interest rates low, raise your credit score, and help | | | | you live within your budget too. It may not be as |
| you obtain credit in the future. | | | | convenient, but it sure is worth it. |
| 3. Do you have a budget in place? Many people feel | | | | Carrying debt is a headache at best and is certainly |
| that budgeting is just a waste of time, but in all | | | | not the way you should be living. Though it is fairly |
| actuality budgeting will show you exactly where your | | | | common to obtain some kind of debt or another in |
| money is going and benefit you financially. It will | | | | your life, it is how you choose to handle your debt |
| stretch your dollars further and help you track your | | | | that will make a difference. There are a number of |
| spending. Budgeting is a very useful tool that should | | | | strategies to reducing debt and getting out of |
| be implemented in your home every month. You will | | | | financial hardships. |
| be surprised by how much you spend and you will be | | | | |