Debt Management Options for the Average Person
Debt Management Options for the Average Person
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.
Debt Management Options for the Average Person - To learn more about this author, visit Eric Pinola's Website.
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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.
Debt Management Options for the Average Person - To learn more about this author, visit Eric Pinola's Website.
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David AchesonDavid Acheson is the founder of DCJA Consultancy. DCJA Consultancy is a management consultancy business specialising in B2B sales consultancy. They offer bespoke and packaged sales consultancy including Sales Optimisation Review, Interim Sales Management, Sales & Marketing Review, 1:1 Sales & Management Staff Analysis, Management Training, Solution Sales Training, Creation of New Pay Plan, KPI's, run Customer Feedback Campaigns, assist with Recruitment, Coaching, Appraisals and set up Strategic Marketing Campaigns. David spent his early career in accountancy and then moved into sales in 1982, working in Office Equipment, IT, Advertising, Training, Outsourcing and Consultancy. He has held many Senior Positions in SMBs and Global Organisations including Head of Sales Operations & Head of Business Development. His knowledge, skills and great experience of the Sales Industry has led to David making keynote speeches and running educational sessions to key businesses through organisations including The Chamber of Commerce and Business Link. - Visit David Acheson's Website |
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Dave KurlanDave Kurlan is the founder and CEO of Objective Management Group, Inc., the industry leader in sales assessments and sales force evaluations, and the CEO of David Kurlan & Associates, Inc., a consulting firm specializing in sales force development. Dave has been a top rated speaker at Inc. Magazine's Conference on Growing the Company, the Sales & Marketing Management Conference and the Gazelles Sales & Marketing Summit. He has been featured on radio and TV, including World Business Review with General Norman Schwarzkopf, in Inc. Magazine, Selling Power Magazine, Sales & Marketing Management Magazine and Incentive Magazine. He is the author of Mindless Selling and Baseline Selling – How to Become a Sales Superstar by Using What You Already Know about the Game of Baseball. He created and wrote STAR, a proprietary recruiting process for hiring great salespeople, and he writes Understanding the Sales Force, a popular business Blog and is a contributing author to The Death of 20th Century Selling and 101 Great Ways to Improve Your Life, Volume 2. - Visit Dave Kurlan's Website |
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John PowerJohn Power, founder of Biltmore Franchise Consulting, has extensive experience developing and marketing franchises and business opportunities. He has been in and around franchising for over twenty years. From 1980 through 1990 he conceptualized, organized, and developed the American Video Association. He grew AVA to 2,000 national members, before selling the company it 1990. It was later merged into another home video marketing company. From 2000 to 2005 he worked as a contract marketing and human resources consultant to several local and national companies. In 2005 Mr. Power began working as a franchise development consultant on a full-time basis. Since that time he has helped more than three dozen companies initiate and develop their franchising program. He notes that there are many companies interested in developing a franchise program, and who need his specialized assistance. Mr. Power is a “hands-on” franchise consultant. He said, “I am the ‘nuts and bolts’ person who tends to the details for my clients.” Mr. Power holds a B.S. degree with a major in Marketing. See: www.biltmorefranchise.com You may contact Mr. Power at: jpower@biltmorefranchise.co - Visit John Power's Website |
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Linda RichardsonLinda Richardson is the Founder and Executive Chairwoman of Richardson, a global sales training and performance improvement company. As a recognized leader in the industry, she has won the coveted Stevie Award for Lifetime Achievement in Sales Excellence and she was identified by Training Industry, Inc. as one of the “Top 20 Most Influential Training Professionals.” Ms. Richardson is credited with the movement to Consultative Selling and is the author of ten books on selling and sales management, including Sales Coaching — Making the Great Leap from Sales Manager to Sales Coach, and Stop Telling, Start Selling. She teaches sales and management at the Wharton Graduate School of the University of Pennsylvania and the Wharton Executive Development Center. Linda is a frequent speaker at industry and client conferences, has been published extensively in industry and training journals, and has been featured in numerous publications, including The Wall Street Journal, Forbes, Nation’s Business, Selling Power, Success, and The Conference Board Magazine. Learn more about Richardson's sales training and performance improvement solutions at http://www.richardson.com web - Visit Linda Richardson's Website |
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Stephanie RobeyStephanie Robey is President and CoFounder of Pivot Positive, LLC - an Internet marketing business focused on helping people start work at home ventures. Previously, she was employed at The Search Agency with over 20 years experience in graphic design and 10 years experience in online marketing. She was responsible for launching the Conversion Path Optimization (CPO) unit where she and her team have conducted hundreds of optimization tests for online companies across multiple verticals. She is a successful entrepreneur having started and sold 2 companies and remains on the board of directors of the third, PhotoSpin.com Stephanie began her career in the direct marketing realm creating and producing direct mail for many of the major cable television companies and directly attributes her understanding of Internet marketing to those early offline experiences. Stephanie is a graduate of San Diego State University with a BFA in Graphic Arts and also holds an Executive MBA from the Graziadio School of Business and Management at Pepperdine University. Read Steph's Blog Meet Steph and Dave Sign up for our Free 7-Day BootCamp: Self Employed & Rich - Visit Stephanie Robey's Website |
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