Debt Management Answers For You…

We wish all those great moms out there a Happy and Enjoyable Mother’s Day.! I lost my mom several months ago, so this will be the first Mother’s Day without her. I admit, it hurts more than I thought it would.

When we were very young my father passed - he was much too young, being in his very early 40’s. And we were much too young to really know him.

“A suburban mother’s role is to deliver children obstetrically once, and by car forever after.” ~Peter De Vries

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An off - subject post.

Several months ago I purchased a new, relatively state of the art, computer. Unfortunately, it came with Windows Vista Home Premium installed. But I use(d) it none the less. And it’s actually been working pretty good.

Now, as with other Windows systems I used, I had set the system to automatically check for and install updates. Never ever had problems with this. So I did the same with this Vista installation.

Again, it was working fine, until this week, when the system downoaded and installed Vista SP 1! Not thinking I folowed the instructions to restart the computer. And that was last I saw of my computer! The computer would no longer boot up, except to a message which gave me several options: Boot in safe mood, restart normally, etc. And of course the old; use the install disc that came with your system to ‘repair’! Which ain’t workin either!!

So here I sit with an expensive door stop!!

Again, Thank You Mr. Gates and Microsoft!

You may want to deal directly with your creditors rather than using a credit counseling agency or resorting to bankruptcy, as a last resort.

In this situation try to look at things from their point of view and understand how they may react to the fact that you haven’t paid your account. Treat them as you would hope to be treated yourself if you were in a similar situation. Communication and understanding can be key in managing your debt.

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Credit counseling agencies can offer you a great deal of help in reducing your debt. Given their experience they should be able to quickly sort out a budget for you and show you how to manage your budget, your income and your expenditures.

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“Focus” - something not a lot of people are good at - Including Me!

How often do you start something and before you finish you’re thinking about something else or changing your mind about whether you should finish or not?

It is common practice with most people to do this with this result: Lack Of Focus => Lack Of Achievement! Lack of focus is one of the biggest obstacles I face on a daily basis!

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Some debts are more important than others and that importance will be determined by your individual situation. You need to prioritize your debt repayment and ensure that the most important debts are taken care of first.

The importance of the debt is determined by the impact that it can have on your life both now and in the future. For instance, clearing past due taxes might be one of the first debts that you would want to look at due to the penalties and compounding interest. Any type of debt that has a ‘compunding’ element to it is one you will want to tkae a hard look at. Federal and state taxing authorities have so many powers to seize assets and make life very difficult for you creates an extremely stressful situation!

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A budget can help you to manage your debt and begin eliminating outstanding debt. Your budget should have the details of all your outstanding debts and the amounts that you should be paying, as well as what you are actually paying. With this information you can work out accurately how much you can afford to pay and then present that to your creditors to see if reduced rates are available. Many credit card companies, for instance, may reduce your interest rates just by asking.

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We all have reasons why we spend. Aside from the necessities in life, We love to spend for emotional reasons as well. Just as some people ‘reward’ themselves or find comfort in chocolate there are many who spend money in response to certain emotions. Low self esteem is one of the major reasons we spend - it cam make us feel good. Like we accomplished something.

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One of the leading causes of friction in relationships is debt or money problems. Fixing these problems can help remove many of the stresses we are under today.

In debt management you should understand that not all debt may be bad. While you might consider it to be so at the moment, when all you can think about is the overwhelming amount of debt you have and the problems that debt may have caused, you will need to understand that some debt may be worth having.

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Well, the holiday season is almost over now and soon it will be a New Year. I hope you enjoyed the season and spending time with family and friends.

For me, last minute shopping does hold a certain ‘pleasure’, being out among those crowds and the nippy weather. I guess it’s a hold over from my growing up days in a small town Pennsylvania.

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