By Ben Lou

Q: It is a new year.  My husband and I would like to be debt free of our $10K credit card debt by the next new year.  What tips can you give us?

A: That is one of the best things I have heard all year long.  Being debt free is a good goal especially if you have big plans for your family’s future.  Also, this is a good starting point in setting new goals so that your future can be more stress free.  As you very well know, being debt free is a work in progress and as long as you stay focused can be attained.

Now to start you off, it would always be good to create a household budget showing all incoming revenue meaning your income.  It would be good to put some aside with the company 401K so that you do not even see that money.  Also, have the right amount of claim on your taxes so you will not have any surprises come tax time.  The tax can be calculated from the tax sheet in the W-4 form.  Once these items have been taken out of your gross pay, we can now use the net pay to deduct your household expenses.

For household expenses consisting of ordinary expenses like rent, utilities, car payments and groceries keep them at a minimum. Avoid creating any new recurring monthly expenses.   This will be very important in achieving your goals.  Try to save every penny.  Yes, every penny.  When you target saving a penny, it will make you feel good when you save a nickel.  Be stingy with your money.  After all you worked hard for it.  And every penny you save can actually go into your budget paying for bills or going into savings.

Also, create a budget.  This will show you how much you are spending on individual categories such as entertainment and miscellaneous.  By Identifying where you can save, you are already half way there.  You just need to execute a plan on how to lessen or eliminate unnecessary expenses.

Ating lesson, Ang di nagtatapon, ay maraming naiipon.

If you need help in getting out of debt, call Debt Aid Consulting International.  We do not use call centers which keeps your information safe.  We have a new program that reconstruct debts for half of what you would pay our competitors.  We also provide legal assistance that keeps collectors away.  We take Federal Credit Unions, Payday loans and high interest personal loans in our program too.  This is exclusively available for Debt Aid Consulting clients.  None of our competitors provide this program.  You are well protected.

We only provide Federal Trade Commission compliant programs.  Go with Debt Aid Consulting!

Do not fall for marketing gimmicks saying that they have the right program for you.  Most marketing companies only have one program and will enroll you in that program whether it fits you or not.  So beware!

Ben Lou at your service!  I have over 35 years of financial experience.  If you would like sound financial advice, call us at Debt Aid Consulting International.  We do not use call centers. No one has the right to put your information at risk.  

Say no to LLC corporations in Canada!  Debt Aid Consulting is the first Filipino debt mediation company incorporated in the US and Canada.

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Tawag na po sa 1-888-341-5234 at tutulungan po namin kayo.  

Itama po natin ang mali!