How can I help a family budgeting?

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How can I reduce the interest rates on credit cards? and less than the minimum payment? I help with a job to non-profit community of people with debt consolidation and budgeting. I’m looking for advice, ideas, strategies and best practices for debt consolidation / credit counseling. Also need help brainstorming for budgeting for people of different ages and lifestyles, including ideas to save on: mortgage / owner of the rental / tenant insurance assets control repairs home / improvement home maintenance, water electricity and natural gas wastewater / oil bill landline cable Internet service to reach food grocery tuition / restaurants / meals Child / snacks support day care insurance alimony / baby sitting (medical, dental, vision) medical expenses / payments fitness (yoga, massage, fitness room) car payments auto fuel / oil car repair / maintenance / Auto Insurance charge transport (tolls, bus, metro) loans student credit cards, other loans clothing / hygiene items, cleaning products household donations (z. B.) KircheGrooming (hair, makeup, others ) any other matter please any help is greatly appreciated!

4 Comments
  1. Reply
    Mo
    May 16, 2011 at 4:53 am

    This is an excellent resource you may be interested in researching:

    http://www.shareittoday.org/

  2. Reply
    Blazenskyy.com
    May 16, 2011 at 5:36 am

    A great site to look at your budget is mint.com since it will help show your expenses and income on a spreadsheet. It will also sent alerts when a bank for instance charges an overdraft fee or your balance is low. When budgeting it’s best to think of it as a spending plan. You need to make sure you bring enough money so you can pay for all the expenses you need. If you don’t you need to look for ways to barter, make additional income or cut back on things not needed at the present time.

    Also look for coupons to save money, garage sales or reading tips from magazines such as Real simple which helps to organize your life. Moreover finance and savings is one of the pillars – try to start by saving 5% of what you earn and spending the rest.

  3. Reply
    malica
    May 16, 2011 at 6:04 am

    You don’t want to reduce the minimum payment. If you pay less than the minimum payment, you will never pay off the debt. That’s not an exaggeration either. The amount you pay interest will add up and you’ll owe even more next month. You should be strongly encouraging people to pay more than their minimum payment, and as someone who is working in debt management I’m shocked you’d even suggest trying to drag out credit card debt even longer with how interest works.

    Reducing the interest rate can sometimes be as easy as asking your credit card company for a lower rate, but if the account isn’t in good standing, they are not likely to grant it. Some credit cards offer low introductory rates for 6 months or so, but the last thing someone with financial problems should do is add another credit card to their wallet. If they can be approved for another credit card and transfer the balance to a lower interest rate card, they need to make sure they close their old account so that they aren’t tempted to spend more money that they don’t have.

    When paying off their debt, they should make sure to pay off the debt with the highest interest rate first. If they have a student loan at 5%, a credit card at 15% and a department store credit card at 25% then they need to make the minimum payments on all and use any other money they may have to pay more off on the store credit card.

    The goal should always be a 0 balance on all credit cards. Leave them at home when shopping so that impulse buys don’t get the best of you, etc.

  4. Reply
    TheWebGuy
    May 16, 2011 at 6:42 am

    here is an articles on Budgeting and money management tips

    http://www.anewhorizon.org/Budgeting_and_Money_Management_Tips.asp

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