6 Steps To Get Out of Debt

Getting out of debt is not easy, but anyone with a steady income can rearrange their finances to get their debt out of control. It takes discipline and patience to get rid of debt, but the benefits of being debt-free make the process well worth it. Be prepared to contact financial professionals and scour the Internet for the resources you will need as you work to get out of debt in 10 steps or less.

1. Lower Your Credit Card Debt

The easiest way to lower your credit card debt is to re-evaluate your credit cards and start retiring some of them. Do you really need that department store card that you have not used in years? Probably not, but you still have a balance on it and that balance is dragging your finances down.
You can hire a professional debt consultant who can help you to do a couple of things to get your debt reduction program started. Your consultant can call your creditors and simply ask for lower interest rates on your cards. Sometimes it works and sometimes it doesn’t, but you never know until you try.
The next thing a consultant can do is take the cards you never use anymore or never want to use again, consolidate them together, and then help you to find a way to pay those balances off. In most cases, a consolidation loan will lower those combined monthly payments and help you pay that debt off in less than five years.

2. Make A Budget

Developing a personal budget is not nearly as intimidating as it sounds because there are plenty of resources online to help you. You can find spreadsheets and budgeting advice online that you can use to create a balance between your monthly expenses and your income. When you see your bills and your paychecks written down side-by-side, it becomes much easier to plan your spending and preserve your money.

3. Cut The Waste

When you start using online resources to create a budget, most will recommend that you track your spending for one month to develop budget numbers for things like food and entertainment. This is your golden opportunity to cut out expenses that are costing you money each month and putting you deeper into debt.
As you track your expenses, you can see how much that $5 cup of coffee that you have each day on the way to work adds up to every month. You can also see how much buying your lunch from a restaurant each day costs you. By doing some proper budgeting, you will be shocked at how much money you will save by bringing your own coffee and bagging a lunch. Do you also need a landline phone and a smartphone? Cut out one of them and watch your debt drop even further.

4. Focus In On Your Debt

Now that you have created a budget and cut out spending waste, you can see just how much money you have each month to address your debt. That consolidation loan is saving you a couple of hundred dollars a month that can also be put towards paying off your debt and living debt-free.

Start budgeting your extra money to go towards paying down your credit cards that have not been consolidated and paying off that consolidation loan early. You can also start applying a little extra cash each month to your care loan to have that paid off quicker as well. As you start applying extra money to your debt areas, you will see your debt shrink and your available money each month increase.

5. Start Living On Cash

Once you have everything under control, it is time to start saying goodbye to your credit cards and start living on cash. If your cable company takes your monthly payment from your credit card through your online account, then get a debit card from your bank and replace the credit card so that you are paying your bill in cash every month. Stop using credit and start using cash to really put a dent in your debt.

6. Start A Savings Account

Take a percentage of your pay each month and put it into a savings account to collect interest and be there when you need it. After a few months of savings, you will be able to pay for that new transmission in cash and avoid running up more of your credit card bills.
Being debt-free is not easy, but it is worth it. When you start making better decisions with your money, you will start to feel the relief that comes from knowing that financial disaster is no longer around the corner.

How to Maintain Your Good Credit Score

Today, maintaining a high credit score is one of the most important things you can do to increase your financial security. Not only does your credit score impact your ability to obtain loans, but it can also be used by employers to gauge your ability to make sound financial decisions. Additionally, poor credit ratings lead to higher interest rates which can add up to tens of thousands of dollars over long-term loans. While credit scores are determined by multiple factors which can sometimes be confusing to understand, it is possible to increase your score by following these five easy steps.

Analyze Your Reports

The first step toward increasing your credit score is to get informed. According to the Federal Trade Commission, each of the three main credit reporting agencies must provide consumers with one free credit report each year upon their request. Get a copy of your report and study it carefully to identify the positive and negative accounts listed on your report. If necessary, consult with a financial advisor who can help you make sense of it all so that you can make the proper changes to boost your score.

Dispute Inaccuracies

Inaccurate information listed in the report is one of the most common causes of a surprisingly low score. Check your report for any outdated accounts that are over seven to ten years old which should have been removed. Then, identify any accounts that contain erroneous information such as balances that have not been reported as being paid in full. Also, be on the lookout for accounts that do not belong to you which could be a sign of identity theft. If you can prove that you never authorized these accounts, then they can also be removed from your report.

Add Positive Accounts

Many people avoid opening lines of credit out of the concern that it will negatively impact their score; however, no positive reporting information can also contribute to low ratings. For this reason, you may need to open a small line of credit that you can use to demonstrate a regular history of repayment. Additionally, keep in mind that you may have positive accounts that have gone unreported. Utility companies, cell phone services and internet providers will often report your payment history to credit agencies at your request so that you can benefit from making consistent payments.

Diversify Your Credit

Your ability to manage multiple lines of credit and different types of accounts can also play a role in how your score is determined. Lenders prefer to know that you have successfully handled credit cards, installment plans and both long and short-term loans. If you find that you only have one type of credit on your report, then adding some diversity to your history can bring your scores to a new level. Just make sure to make prompt payments on any new accounts so that it can build your score up over time.

Pay on the Reporting Date

Everyone knows that paying by the due date is essential to avoid having a negative report bring down their score, yet many people proudly pay off their debts each month and still see very little change in their score. This is because the lender’s reporting date may occur before the debt has been paid in full. This means that each month, the credit report will still show a balance owed. To correct this, simply contact your lenders and ask when they make their reports. Then, adjust your payment schedule to ensure that the next reporting shows a zero or low balance.

When it comes to increasing your credit score, sometimes the smallest of changes can make a huge difference. From disputing inaccurate information to knowing when to pay your debts, you can start now to implement strategies that will increase your score and ensure your future financial security.

Credit Card Minimum Payment Calculators

Finding out how long it will take to payoff credit card balances by making the minimum payment can be helpful. Credit card minimum payment calculators, which can easily be found on many finance websites, are intelligent tools that are designed for account holders who would like to do just this. These calculators are convenient and easy to use. By simply entering in a few pieces of information and pressing the calculate button, users are able to calculate how much money they will be paying over a specified period of time payoff their accounts. Read on, and find out what information must be provided on credit card minimum payment calculators and what details these calculators will display.

What Information Must Be Provided?

A credit card minimum payment calculator has blank fields that must be filled in before the calculator can get to work. While the formulas to calculate payoff details can vary based on the information the calculator was programmed to provide, most of the reliable tools that can be found on the Internet are similar. Users should be prepared to provide details on each credit card separately. It is typical to be asked to provide current credit card balances, Annual Percentage Rates, and the minimum payment required by the credit card provider (in percentage form). It is extremely important for users to gather all of these details prior to sitting down to use the tool. The more accurate the data, the more accurate the calculations will be.

What Type of Information Will the Calculator Display?

Not all calculators are the same, but a majority of these calculators will give you information on the total payments and the time it will take to payoff the balance of the card. Other details that will be provided by the tool, like charts and graphs, will depend on the individual calculator that is used.

Total payments calculations will include the principal and the interest total if the account holder were to pay the minimum percent of their outstanding balance each and every month until it is paid off. The balance payoff is the number of months the account holder will be paying down their outstanding balance if they do not use the credit card at all as they are paying down their existing debt. If a card is used during the balance payoff period of time, another calculation will need to be made so that they results are as accurate as possible.

Benefits of Using Credit Card Minimum Payment Calculators.

Credit card minimum payment calculators can be used for a variety of different purposes. Users can turn these convenient tools into self-help tools that will motivate them to pay more than the minimum amount due each month to reduce their debt and their total payments. The tools can also be used by individuals who are creating a debt payoff plan and who would like to map out how long it will take to get out of debt. The tool can even be used as an incentive not to use credit cards to pay for essential expenses or luxuries. Ultimately, these free and intelligent tools can be used by debt-conscious credit card holders who are serious about tackling their debt.

5 Ways To Raise Your Credit Score In 2015

A strong credit rating is desirable for many reasons. It encourages lenders to approve your loan applications for a car, a new home, or a vacation, for example. A good score also keeps pesky bill collectors away. If your credit rating could be better, here are four ways to raise your credit score in 2015.

Pay bills on time.

Probably the most important way to get a good credit score is by paying bills when they are due. Keep an eye on the due-dates as bills come in, and make sure you make a payment before it comes due, remembering that mailed payments may take a few days to arrive and be processed.

Let creditors know if you will pay late.

Sometimes circumstances make a late payment or even a missed payment unavoidable. When this happens, contact the credit before the due-date to explain the situation. Chances are a note will be posted to your account so that your credit isn’t affected. Just be sure to resume regular payments on time as promised.

Avoid new debt.

Don’t open up more credit accounts unless it becomes necessary. Generally, credit can be avoided by paying with cash or check and following a budget. Credit cards used for unnecessary items like restaurant meals, travel, or hobbies should be avoided.

Use credit appropriately.

While making monthly payments on your current debt, try to pay a little extra to eliminate accounts with smaller balances. As they get paid in full, apply that payment amount to another credit card, along with its regular payment, to increase the amount paid toward the balance each month. Soon you can eliminate all credit balances. However, even after paying off your credit cards, you should keep one or two lines of credit open for emergency use as well as to maintain a good credit standing. Having no credit cards may be interpreted as being a bad credit risk.

Check credit reports for errors.

Anyone can get free credit reports and score ranking by requesting them. When you receive the reports, review them carefully to make sure they are accurate and up-to-date. If you find discrepancies, report them immediately. Check your credit standing each year, keeping in mind that possible creditors will be checking it when you apply for a loan or credit card.

Improving your credit scores is not difficult. Following a few basic steps like these will keep it in good shape for when you really need credit.

Cell Phone Service Providers

The big four have the national infrastructure of built out networks offering LTE speeds and capacity. The six larger virtual network operators include Cricket, U.S. Cellular, Boost Mobile, Metro PCS, TING, and Consumer Cellular. These ten providers supply phone services to a large portion of the US market. Cell phone providers offer a range of services and equipment that shape the users experience in important ways. Providers provide cell service at the speeds and bandwidth needed to have instant downloads and seamless streaming of content. They provide the top and mid-range cell phones to consumers and engineer them for compatibility with the systems, and they guarantee extensive coverage areas. Many offer flexible plans to cover families as well as individual users.

The top providers are Verizon, T-Mobile and Sprint

Verizon is rated as the top performer based on its overall coverage, speeds, reliability, and high levels of customer service. T-Mobile scores remarkably well in every category except rural area service. This system weakness affects some users and would severely limit the usefulness of the service. Sprint rates just behind Verizon with low prices and a steady set of infrastructure and operational improvements on the past two years.
Coverage and quality are important features of cell phone service providers along with Pricing and fees. Plans are often unclear because they tend to understate important details such as charges and penalties. Providers still emphasize their preferred values of phone selections, coverage, and unique features. Consumers focus on price and value. Plan features matter to consumers as much as choices of devices. Each has a direct effect on the usefulness’ of the service. Unlimited data promises, in reality, are systems that throttle users after a certain level of data per month. Throttling slows the user’s speed. Upgrading to new phones on an annual basis also adds an extra monthly charge. Device selection can confuse consumers since there are special arrangements with phone makers and cell providers. Apple, HTC, and Samsung phones are nearly always available at all of the leading carrier.

All about Getting the Cheapest Cell Phone Plans

Low price is not a good way to assess a cell phone plan because function, equipment, reliability, and coverage matter as much as price. One can save on price and not have the service needed to communicate effectively. When one considers the value and determines that the plans work as intended, then price makes one choice better than another.

Cheapest Family Non-contract Plan

T-Mobile charges were slightly less than Verizon, AT&T, and Sprint. The difference is about $20 per month. T-Mobile has good data service and cheaper roaming options than Sprint. Considering telephone and text service and light use of data, makes Sprint a competitor too. The complicating factors include choices of phones and discounts on phones. Verizon has a slightly stronger network and a much better coverage ratio. For many, the monthly difference would not be a good exchange for the confidence in Verizon’s superior coverage.

Cheapest Prepaid Plan

Cricket ( using AT&T) has the lowest cost prepaid family plan. A family of four would pay $100 per month or $25 per phone for data and voice service. Virgin would be second at $115.00 per month. MetroPCS would be $120.00 with its flagship $30 per month unlimited plan.

Pay as you Go

Tracfone and similar pay as you go phone services offer startups as low as $10. These are not per se low or cheap, but they permit small amounts at start and flexible spending throughout. Consumer controlled spending can be among the cheapest ways to maintain cell phone service.

Special Group

There are free phones for those with demonstrated need. Assurance Wireless offers one for those qualified for Medicaid or other programs for persons at or near the federal poverty line. This lifeline service is important. It recognizes that a cell phone is a key to personal well-being. It connects people with essential services.

Cell Phone Plans for Seniors

Seniors can be people as young as 50 or people older than 65. When considering the term, this article will use both definitions and describe the needs of each group. Cell phones are part of the fabric of life; they let us communicate while on the move and access the internet from virtually anywhere. Almost forgotten in the wide array of services and uses, the cellphone is part of the basic personal security for everyone too. It connects us to emergency and medical services and can even locate us when we are unable to act. The cellphone is part of the freedom to travel as it goes seamlessly from structures to vehicles.

Sixty-Five Plus Seniors

Surveys suggest that people in this age category have widespread use of cell phones. More than 75 percent in this group have them and rely upon them. The data show that this group tends to use cell phones for voice communications and far less for data uses. Seniors who rely on a phone for voice and use it relatively sparely can benefit from simple and inexpensive plans that feature voice and small amounts of data capacity. Two prominent entries are Jitterbug and Tracfone. These can start in the range of $10 and offer pay as you go type fees rather than contracts. These providers give seniors the opportunity to buy by the year, month, or any other set of service days. The equipment can make a difference for seniors. Many have not grown accustomed to the changes in phones and services. Large screens and simple layouts are best for this age group. The plain and simple presentation will work better than counting on intuitive customer actions.

Fifty-plus Seniors

The fifty plus senior group is a demographic that expects to use a cellphone about the way that everyone else does. They will use an extensive amount of voice and data for email and photos. This age group is a mixed picture. Some members are quite tech savvy and make their livings or do business in Information Technology environments. Most fifty-plus cell phone users are active socially, still very much engaged in business and career, and have extended family ties that involve many daily communications. They will need a plan and equipment that accommodates data and extensive use of voice time. Intentional communications are also important to this group talk, text, and data must reach around the globe as do friendships, social, and business needs. This group can benefit from a slightly scaled back phone service. They can use an unlimited voice plan with limited data transfer. Another workable option is an unlimited data plan. This will hold down costs and take advantage of current technology. Skype, iChat, and similar applications permit phone calls anywhere and count as data. For as little as $30 per month, one can have an unlimited voice and data solution.