What to do when you open up the credit card statement to only find that you spent way too much on Christmas gifts? It is almost like little gremlins came out and used your credit card when you were sleeping. According to financial expert Derek P. Bliedung of the Columbus Financial & Success Coach. What you do when you find yourself in that situation is to keep the claim. Take 3 large breaths, and think what is my next move.
The next move can you afford to make the minimum credit card payment? If you find the minimum credit card payment will exceed your budget. Here are something you can do correct the problem:
You can try to reduce expenses, going on a budget, and see if there are ways to reduce household expenses such as smartphones, cable tv, insurance, food, etc. If you are on maximum saving already, go to the next step.
You can try to use your talents and get join the gig economy, where individuals can outsource their own specialized talents.
You can try a lower interest with a debt condensation loan to bring the payments into a manageable level for your budget.
Credit counseling is where you renegotiate the terms of your loan and placed it into a repayment plan. You will not have the use of your line of credit or no longer can use your credit card(s).
You can consult with a professional financial coach to evaluate your situation and make personal recommendations based on your situation.
Sponsored by Columbus Financial & Success Coach a transformation financial life coach changing lives every day for the better. We offer in-person (Columbus, Springfield, & Dayton, Ohio areas) phone and video conferencing. If you need help today don’t wait to go to our website at https://columbusfinancialcoach.com/services/ and book an appointment today!