Given that during 2008 the savings rate was reported to be at a -.3% it would seem that Americans were spending everything that they had, and then some. This lack of savings becomes readily apparent when an emergency arises and you have to find money to replace tires, or a washing machine, or whatever. With no savings on hand, many folks simply turned to their credit cards to help ease the burden. This approach worked fine for a while, but in the last year we have seen the credit markets go south quickly, and they have taken many Americans with them. Credit is simply not an option for a growing segment of America’s population.

Enter the cash advance store. Payday loan outfits like My Cash Now have been around for a while, and it should come as no surprise that these types of entities are spreading across the country. The reason is simple…demand. Many Americans look at this as being the only way to meet there obligations and still put food on the table. While I admit that these businesses do perform some type of service to their community, I have to point out that it comes at a steep cost. Many times folks end up owing a significant amount of interest on the money they borrow, and they end up in a vicious cycle wherein they can never repay the $1000 cash advance they borrowed.

As I was researching this trend, I also came across another cash advance lender – Magnum Cash Advance. I will have to admit that I was intrigued by their approach to this industry. Instead of making the money payable in-full on your next paycheck, they stretch it out over 45 to 60 days. This in turn allows you to make smaller payments and I am sure they still make a healthy amount of interest. I am almost tempted to try them, simply so I can write about how the service is to deal with.

I would be interested in hearing from any of you that may have worked with this outfit. Were they fair? Did they treat you well? Let me know.

Magnum Cash Advance

Saving money is a huge key to being able to position yourself to get out of debt. The Internet is full of money saving ideas, and I firmly believe that it is worth your time to get out there and research them. Don’t listen to the clowns in the media and government that will tell you that you have to spend to keep America healthy. Americans need to shy away from the many “get rich quick” ideas that are out there and simply begin to save their wealth.  Also, while a cash advance network may provide a short term solution to a liquidity, it should not become a way of life.  What they need to do is stop spending, pay down debt, and save. It is our only hope as families, and it is our only hope as a country.

Saving is a critical step to coming out of indebtedness. You need money in the bank so that you don’t have to turn to credit cards or payday loans each time a crisis comes up. Dave Ramsey (Total Money Makeover) says your short term goal should be $500 in the bank, and then $1,000. His reasoning is very solid. If the car breaks down or the washing machine fails, it is better to take it out of your savings account and then pay yourself back. Otherwise, you have to pay the credit card company an exorbitant amount of interest and minimum monthly payments until you are 95.

Work hard to save the money you need to have in the bank, make some sacrifices. It will be worth it. Trust me.

Cheers.

Help Getting Out Of Debt

By using this type of sacrifice saving, you can begin to realize savings.  Although initially they will seem nominal, as time goes by the amount that you have been able to redirect to your debt will become significant.  By taking these funds and applying them to your debt, you can begin to establish your own Christian debt reduction plan, without ever having to go to a “professional”. 

The most important thing to remember as you begin to move down this road is that self control and discipline are going to be paramount to your success.  Regardless of how good or strong you think the Christian debt reduction plan you put into place it, without a healthy dose of self-control all of your efforts will be in vain.

The problem we have as Americans is that more often than not we totaly forget how much we spend on the little things.  One thing leads to another, and next thig you know we are in debt up to out eyeballs, and looking for some type of Christian debt and credit counseling to pull us out of the mess.  Regrettably, most of the time…the only way out is through.

So, I challenge you this week to look at all of the ridiculous things you spend your money on daily and just try to cut back on two of them.  See if it doesn’t make you feel better.

Good luck.

Christian Credit Counseling Services

Seems like an odd question, but a valid one for certain.  I am sure that most people go through periods where they him-haw about being in debt and owing their soul to the company store, but these same people are likely to die in the same debt they are complaining about.  Why?  Lack of resolve.

While debt management and Christian credit counseling services can be effective, many times it depends on your attitude about getting out of debt.  If you are serious about getting out of debt, the first thing you have to do is stop spending.  By cutting back on the amount of money you have going out, you can increase the money that is available to pay down the money that you owe.

Another solution is to take on another job.  By doing this, you create another income stream that can help to bolster your ability to pay down your debt.  When coupled with extreme cuts in your personal spending, this can give you the opportunity to make a sizeable dent in the money that you owe.

A third option that can be coupled with the first two (my recommendation) or done on its own is to sell stuff.  Take a look around your house and find those things that you don’t use anymore, you know…the treadmill you haven’t been on in a year, or the gym you bought a decade ago but still haven’t put together.  Sell it.  This stuff is what got you into debt in the first place…get rid of it.  By selling it, you can make extra money to pay against the bills that you have accumulated…and you will have extra space in your living quarters.  Then you can completely avoid having to find a reliable family credit counseling service to discuss your problems with.  Who doesn’t like that outcome?

If you take all three of these measures and implement them, you can realize an incredibly effective manner in which to begin to eliminate your debt, without ever having to attend Christian debt and credit counseling sessions.

Good luck!

Christian Credit Consolidation

One of the largest challenges we face as Americans is that we typically lead very undisciplined, unaccountable lives. Many times we manage to skirt the issues associated with our actions, and as a result have no aversion to making the same mistakes later. While I will concur that debt relief companies and debt relief agencies will help make the debt eradication process quicker, I think they take away the benefit of one having the resolve to create a debt management plan and stick to it. By doing so, it is not a debt relief agency that is solving your problem for you, but you instead.

All of the Christian debt and credit counseling services in the world will not help you stay out of debt if you never take the time to learn how to buckle down your own finances and exercise restraint and discipline. What do you think? Is this something you can do without debt relief agencies, or do you need a debt relief company to come in and restructure your debt for you? Let us know you opinion.

Good luck!

Christian Credit Consolidation

They do focus on Christian debt settlement, and talk about how they will work with you and with your creditors to try and reach an agreement that everyone can live with. Additionally, they will work with you and try to come up with a budget that will allow you to make the payments that they help you setup. Christian debt management solutions are nice in that they provide you with a way out of the hole you find yourself in. This should be the point of all Christian debt counseling. What do you think?

Good luck!

Christian Debt and Credit Counseling

A debt management plan details what items you will need to identify for each obligation (who the creditor is, how much you owe, what is the interest on the debt, what is your monthly payment, etc). This information is typically laid out in a tabular format that is easy to read and follow. Make sure you take your time when putting this information together because it is going to be very important later.

If you are not quite sure what your debt management plan should look like, you can search the web for examples. There are many sites out there that provide a great deal of information on this topic and I would highly encourage you to take the time to take a look at their sites and find the format for your debt management plan that will work out best for you and your family.

Additionally, as stated before, if you are working with a debt management agency, or a Christian debt counseling group, you must remember to do your homework. There are those people out there that will bill themselves as experts in the Christian credit counseling world and promise you the world in exchange for your money. These folks will not tell you that they are crooked, it incumbent on you to find out who to trust. I did take a look at Christian Financial Ministries, and they looked like they might be worth a shot, but I have not completely decided who I am going to use yet. I will let you know when I figure it out. Likewise, if you find a good Christian credit counseling service, stop back and let me know.

Good luck!

Christian Debt and Credit Counseling

Having said that, I believe it is extremely important to do your research ahead of time and find a Christian credit counseling firm or organization that has a reputation for dealing with integrity with those it is trying to help. Additionally, one of the areas I would look at is whether they encourage you to give to charitable works or if that is the first thing they want you to cut out. I have had to work with several of these in the past, and trust me…you will know early on if they really are interested in providing Christian debt relief or not. Those organizations that are Christian in name only will have a hard time tolerating your charitable gifts.

If you are in the market for Christian debt counseling, you are probably already feeling beat down, the last thing you need is to fall victim to some bogus outfit. I would recommend going out online and searching for firms that offer Christian debt and credit counseling, and then search on the names of the ones you think you may be interested in calling. You can also look for those firms that may offer specialized services like student loan debt consolidation to meet you very specific circumstances. Odds are, if someone has had a bad experience with them, they will have written about it on the net. You can also try asking friends and family if they have ever had to use debt or credit counseling services. Maybe they have, and maybe they can refer you to someone they trust.

Good luck!

Christian Debt and Credit Counseling

It wasn’t because of the example set by my parents; they were actually very frugal and always made it a point to live well within their means. They consistently only purchased exactly what they could afford…so I can’t blame it on them. The truth is, I have no one to blame but myself. Furthermore, I knew exactly what the Bible said about debt, and I chose to ignore it. Sew the wind, reap the whirlwind…I am responsible.

I firmly believe this is the first step to getting out from under your debt, the confession of your part in the situation. After all, you need to realize that if you led yourself down this credit card debt path before…you can do it again. It is for this reason that debt management is so important. Once you have realized you got yourself into debt, you begin to realize that you are the only one that can get you the Christian debt relief you desire.

So, once you have admitted that you are the root of the problem, you can begin to position yourself to do something about it. One of the resources I have used, and that I would recommend is a book by Dave Ramsey, Total Money Makeover. The book goes into great detail to lay out very specific steps you can take to begin to minimize your credit card debt. One of the things Dave does not recommend is the use of a debt and credit counseling service. The reason for this is that he feels it draws out and prolongs the problem. Additionally it runs contrary to the premise of his program. He wants you to be debt free…quickly. He does spell out that not everyone will move at a breakneck speed to implement his debt reduction and elimination techniques. To this end he lays out different timetables for individuals who are moving to get out of debt at different speeds.

The funny thing is that Dave is providing Christian debt and credit counseling without even knowing it. His book is a good place to start, and a lot of his advice makes sense.

If you take a look at Dave’s stuff, come back and tell us what you think about it.

Good luck!

Christian Debt and Credit Counseling

A very specific focus will be placed on Christian debt management, and Christian debt elimination techniques.  If you have found my site, odds are you are looking for information about how to get out from under your debt…me too.  As I find Christian debt relief techniques that work, I will share them with you. Likewise, if you have something you would like to add to the discussion, please leave a comment.

Cheers,

Christian Debt and Credit Counseling