8 Surefire Ways to Get Rid of Debt ASAP

Here’s how to painlessly speed up debt-reduction efforts. Debt can destroy your financial dreams. Whether you carry a small balance on your credit card each month or are staring up at a mountain of financial obligations, debt makes it impossible to get. Paying off debt requires dedication, determination and persistence. Here are a few smart ways to pay off debt fast:

1. Stop using credit cards
2. Pay as much as you can afford each month
3. Make cuts to your spending
4. Double up on payments
5. Use windfalls to pay down balances
6. Freelance to earn extra money
7. Tackle debts with the highest interest rates first
8. Don’t sacrifice the things you love the most

Paying off debt may require you to make few lifestyle changes, but it doesn’t have to be depressing. If you have a difficult time adjusting to new circumstances, implement gradual changes so the process won’t become too overwhelming. You have an option to call Debt.com (888) 739-9616 for FREE consultation with a debt specialist.

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15 Ways to Stretch Your Dollars in Retirement

Getting older presents new ways to save money. Study these strategies to make your golden years more golden. One scary part of retirement is knowing you could have 30 more years in front of you but only a limited amount of cash available to finance them. How do you make sure your retirement account doesn’t run dry before you say your final goodbye? Well, there are no guarantees, but the following are numerous smart strategies you can use to stretch your money – however little or much you have- over the decades to come.

1. budget, budget, budget
2. Embrace senior discounts
3. Move to a smaller house
4. Relocate to a less expensive area
5. Sell what you don’t need
6. Get the things you do need for cheap
7. Become a one-car household
8. Refinance or consolidate your debts
9. Travel wisely
10. Manage your sequence or returns risk
11. Stay active
12. Understand your health care benefits
13. Get ready for long-term costs
14. Set boundaries with the kids
15. Work as long as you can

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8 Big Purchases You Should Never Make

Sometimes a big-ticket purchase is nothing more than a big waste of money. Spending money on expensive things you don’t need is a surefire way to deplete your bank account and lower your net worth. Many big-ticket purchases are made on impulse or otherwise represent poor judgement.

If you truly can afford to buy a costly status symbol, go right ahead. However, if you want to get the most out of your money, there are many expensive items that you can and should live without. Here are several examples of big expenditures you shouldn’t make:

1. Timeshares
2. Recreational vehicles
3. New cars
4. Designer clothing
5. Cutting-edge technology
6. Toys for grown-ups
7. Watches that cost a bundle
8. Or any purchase that is above your means (or that squeezes your budget)

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7 Steps to Make the Most of an Inheritance

Don’t squander this gift – which can keep on giving to your financial security. When someone we love dies, it can be tough to make decisions, let alone financial decisions about an inheritance. A little planning can go a long way, though. These steps will help guide you through the process of managing new found wealth responsibly so you don’t squander your windfall.

1. Don’t rush
2. Find a safe place for the money (a CD, a money market, stocks or bonds, or real estate)
3. Take inventory of your finances
4. Pay down debt
5. Establish emergency savings account (6 months of your monthly expenses in case of job loss)
6. Think long-term
7. Splurge a little (for example: spend 1/3, pay debt 1/3, save 1/3)

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7 Reasons Hiding Cash At Home Is A Terrible Idea

Stashing cash around the house is anything but harmless… Should you stash some cash in a hiding place around your house? It can seem like a fun, creative way to save your money – $100 bills stuffed in the bottom of a cook jar, $50 bills stuck between the pages of a book, even more money buried in the backyard. But it is actually a dumb and unsafe way to hold on to your money. Here are several reasons why hiding cash around is a bad idea:

1. You are missing out on ‘free’ money
2. The money is not FDIC-insured
3. You could lose the money
4. The money might not be covered by insurance – in case of a fire or a home invasion
5. You are losing out on inflation
6. A loved on might end up having to search for hidden money
7. In the event of a natural disaster, it may be unsafe to enter your home to search for the money

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Information on Virginia Unemployment Insurance Benefits

For unemployment insurance relief during COVID-19 outbreak visit the Virginia Employment Commission to apply for unemployment.

https://www.vec.virginia.gov/unemployed/online-sevices-for-unemployment-benefits

In order to file for unemployment insurance (UI) you must have be separated from your employer or have had your hours reduced.

You will need the following information to file your claim:

• Your Social Security Number.
• The accurate employer names, addresses, telephone numbers and dates of employment within the last 18 months.
• The name and local number of your local union hall, if you obtain work through a union.
• Your Alien Registration Number of you are not a U.S. citizen.
• If you do not have any non-Virginia employers you must have an accurate mailing address, phone number, dates of employment for them.
• Make sure you have you gather your banking info to utilize direct deposit for unemployment benefits.

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11 Tips and Tricks That Will Keep You From Overspending

These suggestions and skills will help you avoid the temptation to overspend. Shopping can cause problems, whether you are a compulsive shopper or an occasional impulse buyer. Spending more than you can afford, running a balance on your credit cards and feeling stressed out of debt – all these behaviors can pose a risk to your financial stability. Turning the pattern around involves changing habits. Here are tips. strategies and skills to help stop impulse spending.

• Shop from a list
• Procrastinate
• Shop with cash or a debit card
• Shop alone – or with a trusted friend
• Shop your own closet
• Channel the impulse
• Plan your splurges
• Start using a budget
• Stop shopping as entertainment
• Don’t buy anything you can’t return
• Get help if overspending is damaging your finances, relationships or self-respect, get help and support you need. Debtors Anonymous is a free, 12-step program whose purpose is “threefold”
  • to stop incurring unsecured debt
  • to share your experience with the newcomer and;
  • to reach out to other debtors

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Can’t make your mortgage payment? Here’s How to Request Relief

If you are worried about missing an upcoming mortgage payment, you have some options. The coronavirus pandemic and millions of jobs lost due to it are an enormous challenge for American households.

Once you’ve put food on the table, the next most pressing question is, “How do I hang onto my home?”

I you’re in a tight spot right now, you may qualify for mortgage relief.

Following is a look at newly available types of relief for homeowners struggling during the pandemic.

How and when you contact your servicer depends on the severity of your financial hardship.

• If you can’t pay the mortgage this month: Call your credit card company
• If you can pay the mortgage now but worry you’ll be in trouble later
  • Don’t call yet. Check your mortgage website for instructions because phone lines may be jammed with people needing immediate help.
  • Also, check the Consumer Financial Protection Bureau’s guide to coronavirus mortgage relief options

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Using your credit card wisely can be a significant savings for YOU!

• Pay your bill in full every month – you will save on interest and avoid late penalties
• Always pay your bills on time
• Avoid paying the minimum balance – it will take longer to pay off and you will pay more overall
• Call your creditors if you have trouble paying your bill on time
• Negotiate a lower interest rate on your credit card to reduce costs
• Know the interest rate on each of your credit cards
• Know the fees for taking a cash advance on your credit card (may be double your cc interest rate)
• Have a plan to use your credit cards
  • Is it for special emergencies?
  • Vacations, or other purposes?
  • Stick with the plan to avoid over use and damage to your credit score

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What is the difference between a credit lock and a credit freeze?

They both are used to prevent your personal financial data from being stolen.

Credit lock – service requires a fee and provides easy access with an app on your phone.

Credit freeze – must register with each of the credit reporting agencies separately. This is a FREE service. To Unlock a credit freeze log into your account takes about one hour – but give yourself three business days to apply for credit. You can also lock your credit card or debit card by going on to the bank website to complete the process.

Most credit cards now have a safety feature called a chip to prevent capturing your info electronically. Except for gas stations. When you get gas try to use the pump closest to the front door to the station. Skimmers are devices that fraudsters place on the ATM component to steal your information by 2021 – this should no longer be an issue of concern.

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