Top Stories

New Year New You: Financial Series Part Three 2.11.14

| February 12, 2014

FINANCIALWEALTHPARTTHREEWEB from WAGM-TV on Vimeo.

Share on FacebookTweet about this on TwitterShare on Google+Email this to someone

Over the past few weeks we’ve been featuring a series called “New Year, New You” showing you ways to improve your life throughout 2014. Adding onto your income and having more cash is certainly the key to getting out of debt. But it first starts with two important components…DETERMINATION and DOWNSIZING your lifestyle. Kendall Roy is the Presque Isle Branch Manager for the County Federal Credit Union and says “You wanna have a plan in place, when it comes to your financial where with all a budget is your best bet, if you can budget tell your money where to go instead of it just going out of your wallet your better off.”

Here are some other tips to turn financial debt around:

Pay Off High-Interest Credit Cards

Use Cash

Take Advantage of Direct Deposit

Trim Unnecessary Spending

Assess Living Costs

Don’t Borrow

Reach Out to Creditors

Become a Savvy Shopper

Add to Your Income

Look for help from a debt reduction financial advisors who can help you formulate a plan for getting and staying out of debt. Scott Violette is a Financial Representive for Barressi Financial in Presque Isle and adds “Seek help if you need it there’s financial professionals out there that can help people do a simple thing of giving you a budget and stay on a budget.” Financial planners also advise people to educate themselves about ways to save. “Get on the internet and do some looking around, start listening to the radio go to your bookstore or amazon.com and look for resources,” says Gretchen Morse, a Financial Advisor for Edward Jones Financial Services in Presque Isle. Morse also advises taking stock of your present situation by planning for a solid financial future with retirement and making investments. Finally they all agree if you’re in debt don’t get discouraged. Progress can be made. “It can be done anything can be done if you set your mind to it,” says Violette. Roy says “You can always turn it around but usually that means you have to give up something.” Some savvy advice that will SAVE YOU MONEY in the longrun.

>

Share on FacebookTweet about this on TwitterShare on Google+Email this to someone

Tags: , , ,

Category: News

Comments are closed.