Ronnica Rothe is a graduate with honors from the University of Oklahoma and a current student at Southeastern Baptist Theological Seminary. She works with Vision Credit Education to help individuals get out of debt and reach their financial goals.
Too many of us struggle with debt because we live above our means. This can be kept up for some time using credit cards and creative finances, but at some point your debt will get the best of you.
The current financial uncertainty has thrust more Americans into financial trouble. Suddenly those reasonable monthly credit card payments for past expenditures are no longer manageable in your tightening budget as more has to be spent on basics such as gas and groceries. If you have gone through a layoff or cuts at work this complicates the matter further.
If you are in this situation, it may seem hopeless. Don’t give up. There are financial professionals who have done with many cases like yours that can provide perspective to your situation. There is no cookie cutter answer for what you are going through, therefore you need a financial counselor that will listen to what you have to say and consider your particular circumstances. They can also answer your questions and provide helpful information to get you back on track financially.
One major area that you should consider is to rethink your spending habits. Since too often problems occur when more money is going out than coming in, you need to rework your situation until you are making more money than you are spending. In the current economic situation it may be difficult to work more hours at work or get another job, so you need to rethink your spending habits. Consider what areas are priority and what areas you can skimp on for now in order to save money for the things that you truly need or will enjoy more. This will also allow you to have more money to reduce your debt.
If you would like to know more about other ways you can get your financial situation stable, talk to an accredited financial counselor.
- Related Videos
- Related Articles
- Ask / Related Q&A
- Get your Holiday Rebates With a New Credit Card
- Credit Cards Restrictions Hit Christmas Spending
- 6 Steps to Minimize Your Credit Card Debts and Maximize Its Rewards
- Make Credit Card Debt Consolidation A Priority
- Making Use Of Your Credit Cards
- Using Your Credit Cards Wisely
- Credit Card Offers
- Credit Card Benefits
How To Build Wealth And Leave Happy A Life
By: Mary Mukami Gachonde | 23/11/2009Having wealth means working hard and maintaining good management on your finances all the time. However, you can still have bad debts regardless of whether you are rich or poor.
Finding a Fresh Path for the New Year
By: James Dicks | 23/11/2009James Dicks reexamines what is important in light of the holidays and this past year's recession.
A Foray into Student Finances
By: Adam Singleton | 23/11/2009Starting college or University is a pivotal point in life and an essential part of this is finance. Making sure you have money when you need it most helps with all the essentials of student life.
A Foray into Student Finances
By: Adam Singleton | 23/11/2009Starting college or University is a pivotal point in life and an essential part of this is finance. Making sure you have money when you need it most helps with all the essentials of student life.
Establishing Credit After Bankruptcy
By: Robin Larson | 23/11/2009Rebuilding your credit after bankruptcy challenging, but it’s not impossible. There are things you can do to make your situation better, but understand that there is no easy fix and it will involve planning and patience on your part to put you back on your feet.
Establishing Credit After Bankruptcy
By: Robin Larson | 23/11/2009Rebuilding your credit after bankruptcy challenging, but it’s not impossible. There are things you can do to make your situation better, but understand that there is no easy fix and it will involve planning and patience on your part to put you back on your feet.
The Government Grant Application; Why You Need the Right One
By: Wendell and Charmayne Vannatter | 22/11/2009The proper government grant application is extremely vital if you wish to succeed in receiving your government grant. Many people will fail to secure the grants that they have applied for, even ones they may have qualified for, because they do not understand the government grant application process.
Small Business Government Grant; Is It Right for You?
By: Wendell and Charmayne Vannatter | 22/11/2009Small business government grant money is readily available today. The Obama administration is seeking to give millions of dollars away in grant money.
Credit Scores: More Complicated Than You Think
By: Ronnica Rothe | 30/04/2009 | CreditIf you are a consumer in the United States, chances are you have a FICO score. FICO stands for Fair Isaac Corporation, the brains behind the formula used to score personal credit by the three major credit bureaus: Equifax, Experian, and TransUnion. Fair Isaac does not release the formula, but some helpful details of how the scores are figured are known.
Massachusetts Debt Counseling
By: Ronnica Rothe | 11/09/2008 | CreditPeople in Massachusetts are no less prone to debt and credit problems than people elsewhere in the United States. The cost of living in the state adds to the debt that the average resident carries. If you live in Massachusetts and find yourself in this situation, you are not alone. There is help available.
Rethink Your Spending Habits
By: Ronnica Rothe | 19/08/2008 | Personal FinanceToo many of us struggle with debt because we live above our means. This can be kept up for some time using credit cards and creative finances, but at some point your debt will get the best of you.
Eliminating Debt is not Impossible
By: Ronnica Rothe | 12/08/2008 | Debt ConsolidationYour credit card debt situation may seem impossible to overcome. Yet as you sit at home watching the Olympics, you see athlete after athlete overcome obstacles and topple world records in ways that would never have been thought possible even 20 years ago. While you probably never will win an Olympic medal, with the right strategies and information you can eliminate debt from your life.
How Do I Review My Credit Report?
By: Ronnica Rothe | 07/08/2008 | CreditIf you don’t know what is on your credit report or what your credit score is, you may want to review your credit report. This is especially important if you want to make a large purchase or apply for a new credit card in the near future, but reviewing your credit report on a semi-regular basis will keep you aware of your credit history and let you know if you have become a victim of identity theft. Credit score information can also help you understand what your credit score and report means.
What is a Reverse Mortgage?
By: Ronnica Rothe | 06/08/2008 | MortgageIf you are lacking funds but have a lot of money tied up in your house, you may be considering a reverse mortgage. In some situations, a reverse mortgage can be a good option. But before taking the plunge and stripping your house of equity, you will want to find out more about this product and its advantages and disadvantages.
How Do I Choose a Credit Counseling Organization?
By: Ronnica Rothe | 01/08/2008 | CreditThere are an increasing amount of people that can benefit from credit counseling as they see their credit tank and their debt skyrocket due to financial decisions and the economy. But how should you go about choosing a credit counseling organization? Here are a few helpful tips.