Rich n Fit Life !

The financial crisis has brought everything to a head. For a supposed super power the United States of America’s citizens is impoverished, and relying heavily on welfare. Every one is fighting to keep their heads above water and under a roof to call their own. Michigan’s auto industry has completely collapse. Giants are begging for a bail out to keep them afloat.

Financial Struggle

You know you’re not alone. The news about foreclosures, high credit card debts and bankruptcy is a national phenomenon. The knowledge that everyone else is down on their knees should not make you complacent, because in the first place: why are you in that situation? Granted millions of people have committed the same mistakes that you have. In the end however, you should have been keen enough to recognize that you were going under.

With everyone clamoring for help, the internet has taken advantage and a lot of people are claiming as experts in the field of credit. Unfortunately their supposed help will probably set you back even more than you already have. You do not need an expert on finances, all you need is someone to make you see within your self and realize what you did, and what is happening is your own doing and could only be undone by you.

Getting back in Financial Shape

The key to getting financial power and control back is learning how to budget. Taking time off to sit down and review the amount of money you make against your expenses is the first step to gaining financial freedom. The most basic step is often the one that’s bypassed because everyone thinks that they have great control over their spending habits. Do not leave everything into in to chance, its better to have things written down, because then you are unlikely to forget it.

Identify, and Calculate

The second step is to write the things you do in a daily basis for a period of one week. In that one week how many times did you go to the grocery? Eat out? Have a drink? Give in to the temptation and buy that perfect pair of shoes which go so well with your new hand bag and designer clothes?

Did you know that making one trip to the grocery store with a week’s list of needs and commodities will actually make you some extra money left over for savings? Going to the grocery ones a week saves you gas, time, and unnecessary spending.

As you analyze, you will find out that you dug the hole you are in. More often than not you know that you are not supposed to buy to cute jimmy choo’s because you can’t afford it and yet you still purchase the thing. The absolute realization is that impulse gets you into trouble. So…just make it a habit to never buy on impulse.

In short, always remember one line..by heart…..EARN MORE AND SPEND LESS!

Finances can be managed better if Credit Cards are used to moderately. One would commit financial suicide if lots and lots of money are spent wastefully using Credit Cards.

If you are unable to find a way out of the financial problem, take the help of a financial Advisor who can assist you with Credit Card management. He can assist you in getting bank loans which would eventually give you more time to make the payment apart from the debt consolidation method. Care should be taken to zero-in on a plan that suits you best rather than agreeing to any and all suggestions of such advisors. This might aggravate the problem even more.

Self-discipline is the best method to save your self from high accumulation of debts which cannot be paid. Above suggested methods are simply guides to help you if you are already in trouble.

You may very well note the points given below on ways to effectively manage using your Credit Cards which would save you from financial disaster.

• PLAN YOUR PURCHASE: Before you place a purchase order for a product with the help of credit card, you should make yourself sure of the means by which you intend to pay off the credit card bills. You should only purchase things that are absolutely necessary for the moment. If you buy things way too costly just to show-off, it might give you temporary pleasure but would distress you a lot in the long run due to accumulated debt.
• NEVER CROSS CREDIT LIMITS: This is absolutely necessary that you maintain discipline to never cross credit limits to manage debts and payments well. In fact, try and use only 2/3^rd of your available limit and keep 1/3 for absolute emergencies.
• SOLUTIONS FOR ACCUMULATED DEBT: You can take several steps to solve such problems effectively.
  • Ascertain the total debt that needs to be paid and then select a plan to pay them off regularly without feeling the strain.
  • Try and pay the minimum payment that can be paid. Request for debt consolidation options to felicitate easy payment of your debts.
• CHECK ACCOUNT STATEMENTS REGULARLY: Make it a habit to maintain records of all credit card purchases and payments and do verify this list with that of Bank statement. If you see any entry wrongfully debited, immediately contact the bank with your own list as ready reckoner.