Tweet

Credit Alliance Group Debt Management Options are for the Average Person

Guest post by: Bryan Garner

Article Overview: There has been a large increase of people seeking help with their debts this holiday season. I would like to offer some advice for the individuals that are feeling the strain of tougher economic conditions. A monthly household budget can be the greatest help of all. Most people never realize the amounts of money they spend each month on little things; let’s take a look together.

Credit Alliance Group Debt Management Options are for the Average Person

Being in the debt management field I see a lot of families that are in great need of assistance.

There has been a large increase of people seeking help with their debts this holiday season. I would like to offer some advice for the individuals that are feeling the strain of tougher economic conditions. A monthly household budget can be the greatest help of all. Most people never realize the amounts of money they spend each month on little things; let's take a look together!

Cable TV: $80.00-$100.00 a month

Internet: $30.00-$150.00 a month

Smoking: $30.00 + a month

Eating out: $5.00-$150.00 a month

Gas Money (weekends): $100.00-$200.00 a month

Entertainment: $25.00-$100.00 a month

Cell Phone: $30.00-$150.00 a month

Leaving Unnecessary Lights on: $10.00-$20.00 a month

Based on the items above and adding up the sum of the smallest figure listed; a person could be spending an extra $310.00 a month!

Before anyone calls to have me lynched; please take a moment and realize that all of the things listed above are non-essential items that you could easily live without.

I know what you are going to say: "But Eric I need my cell phone, what if I get into an accident or breakdown?"

1.If you get into a wreck; someone else is probably involved; use their phone. Cells call 911 always.

2.If you break down in the middle of nowhere then a phone is not going to help you. Plus most phones call 911 even when not activated.

"But Eric I cannot quit smoking or should not have to quit."

I would say that you really don't care about getting out of debt; if you would rather kill yourself.

"But Eric I need to have access to the internet." We all lived without it for many years; unless you are a day trader or work from home (should be a write off) turn it off for awhile. If you have debt problems there is nothing online at your home that is going to help you; government grants to pay off your debts are not real. Turn off your computer and get a real second job for awhile.

"But Eric I have to have Cable TV; I have kids or I like to watch football." TV may only cost you X amount of money to buy, but it will cost you a fortune to watch. Being the father of three young children I can assure you that they gain nothing from watching TV. Read a book to your children; the library is still free. OR go outside and experience life; it helps build your character.

Now that we have looked at some of the frivolous things in life that you could spend your money on; let's look at building a budget. This will be your first step in the right direction and a great tool on your journey to becoming debt free again.

1.Sit down and list everything that you spend your money on.

2.Next make a list of all the things that you have to spend money on. (Home, car, and health/food)

3.Get a stack of envelopes and write the name of each necessary item on the envelopes and the required amount to pay that month. (If it's not a fixed cost i.e.: rent, car) then just guess as close as possible (h2o bill)

4.Each time you are paid place the required amounts in each envelope; this is all you get to spend. As you put money in write the amount and date & as you take money out do the same.

5.When you go to the grocery store bring your envelope for food. If people look at you funny; who cares you're not trying to keep up with the Jones; you're trying to become debt free again.

As you grow with your budget you will be able to fine tune it based off previous months. (Keep the envelopes from each month to help) This is a basic guideline on how to create a budget that I personally used to knock out $10,000.00 in debt over a 12 month period.

Like losing weight though it's not all about doing just one thing to fix a challenge. You need to overhaul your thinking and expectations. You have to look at how much money you earn; and decide if it is going to be enough to accomplish your goals. IF not, do something about it and get another job or add value to yourself so that you can get another job. It's not always best to run off and sign up for college either. Try reading some books written by people that have accomplished the things that you are aiming for. There are half-priced book stores full of great information for $5.00 or less! The library is a super store of knowledge; just request any book and they will get it for you. Try things like "Think and Grow Rich" or "How to Win Friends and Influence People."

All of these things are just steps and tools to help you realize your goals to become debt free again. If you would rather seek professional help you can contact us for a free quote and a no obligation information package. We are a full service debt management company based in Dallas, Texas.

Related Articles
  Credit Alliance Group is changing the debt settlement industry
  Is Debt Settlement the RIGHT choice for you?
  Credit Alliance Group has discovered that Banks and Collectors Have a New Twist on the Old Bait & Switch Tactic
  Strategic Alliances
  Tips to Take Control of Credit Card Debt

Article Tags: credit alliance, credit alliance group, debt, debt management, money
Referred by: http://www.creditalliancegroup.net



Related Forum Posts
No B.S. Time Management - A great book I read on Time Management is No B.S. Time Management for Entrepreneurs by Dan Kennedy.
Simple poll for the group. - On personal opinions only, what company represents Futures Options and why? I thank you, before hand for your interest and feedback...
BNI Groups - do they work? - Hi Lesley, From the members in my Mastermind Group I've heard a number of positive and negative things about BNI Groups. Just like a Mastermind Group, it all depends on who the people are. If the personalities fit and the members can add value to your business it can be worth checking out. The best bet is to go to a meeting as a guest to get a sense of who is in the group and if it is for you. It doesn't cost you anything except a little extra sleep the morning of. Good luck!
2007 Goals - My yearly goals for December 2007: 1. Add 10-15 new "ideal" clients to our client roster 2. Increase revenues by $500,000 3. Average at least 1 paid speaking engagement per month.
Re: On Which Social Media Sites Are You Most Active? - I must respectfully disagree completely with that premise Evan. When speaking of a "Small Group", we are talking abotu a "Mastermind Group". As we all know, such a group is instrumental to success, online or off. The groups can grow quite large too. My group currently has 35 members, but several are actively participating and sharing content.


Share this article with your friends. Fund someone's dream.

Leave a comment below or share on the left and you'll help support entrepreneurs in Africa through our partnership with Kiva. Over $50,000 raised and counting - Please keep sharing! Learn more.

Tweet

Newsletter

Get advice & tips from famous business
owners, new articles by entrepreneur
experts, my latest website updates, &
special sneak peaks at what's to come!

Name:
Email:

Popular Articles

Winning Market Share in a Tough Economy

Starting a Business a Brave Move or a NoBrainer

How to choose your executive coach -1

Suggestions

Email us your ideas on how to make our
website more valuable! Thank you Sharon
from Toronto Salsa Lessons / Classes for
your suggestions to make the newsletter
look like the website and profile younger
entrepreneurs like Jennifer Lopez.