Setting Financial Goals

I ate out today and that is something I said I would not do. I have a habit of setting my goals too high. Eating out was something I said I would not do Monday thru Thursday and I ate out twice this week. I tend to pick goals that would be achieved only in a perfect world and we all know this world is not perfect. I am not sure how I want to alter my goals. I may try to tackle eating in 3 days during the week. I feel you accomplish more by setting goals that are attainable. Reaching those goals gives you the power to set them a little higher for the future. I have changed many things about the way I think about money and the way I spend it, but I have a ways to go yet.

Tags: setting goals, financial goals, attainable goals, spending money

Debt Counseling can Help

One of the hardest parts of getting out of debt is sticking with a plan. We have to remember that we got into debt one dollar at a time and we are going to get out of debt the same way. For many of us, we did not realize that we were in trouble for a long time. So we had amassed a lot of debt, before we knew we needed help.

I actually enrolled in a debt counseling program when I realized I could no longer handle it on my own. Many debt counseling programs will tell you how much money they can save you each month. That may not necessarily be true and probably will not be the case. Most creditors will still want 2 percent of your balance each month.

I found the benefits to be:

1. One payment each month. I had so many different payments to make each month it was hard to keep up with the due dates.

2. Reduced interest rates. I do not have any interest rates that exceed 10 percent and I have some credit card companies that have eliminated my interest completely.

3. NO fees. Although, I had not made any late payments and was not behind, this is a big benefit to most people. Many people have gotten in over their head prior to enrolling in a debt counseling program.

4. If you are getting collection calls, they will stop. Your credit card companies have to deal directly with the debt counseling company.

5. As long as you follow the program, you will most likely find yourself out of debt in five years or less.

This was not an easy decision to enroll in debt counseling, but I think it was a wise one. I have been in the program almost 2 years and I have seen my debt go down by about $15,000. It is a slow process, but it is a process that is working. In a future article I will look at some of the drawbacks of debt counseling.

Tags: debt counseling, credit counseling, debt help, credit card debt, debt relief

Can too much Money be a Curse?

As much as I would like to have enough money to live comfortably, I think an abundance of money can be just as much a problem as a lack of money. I saw that Lindsay Lohan was arrested again for some sort of drinking or drugging charge. I sometimes think it is their abundance of money that keeps them from seeing the light for so long. They have enough money to buy themselves out of trouble and sustain their expensive habits much longer than the normal person would.