Financial Strategist Gives Tips on Handling Debt
LOS ANGELES, CA: Jerri Simpson, AKA “The Debt Lady” (http://www.thedebtlady.com), has released a list of five steps to a better financial life, to help people overcome the burdens of debt.
The list consists of:
“1. Sit down with your credit card statements and look at them. I mean really look at them. What is the interest rate you’re being charged, what is the balance owed, the minimum payments and the amount of years its going to take to pay them off? Look at them.
“2. Now write it all down in columns on a piece of paper, excel spreadsheet, kitchen wall, dresser, cabinet or any other useful place that you have around the house that you can use. Write with anything, a pencil, crayons, pen, eyebrow pencil, lipstick, shaving cream, or finger paints. Write down how much you pay in minimums, your total interest rate, how long its going to take you and how much you spend per month.
“3. Once your mouth is closed and the drool is wiped from your chin, from the information, start writing down all of the other things that you spend money on every month. I’m talking everything, from coffee to diapers, shaving cream to ice cream, rent to chimney sweeps. Keep writing and writing and writing. Once you have put everything down look at it, are you crying, yelling or laughing hysterically? I thought so, you should be. This is the hardest part and you did it! Well done!
“4. Now, find every source of income that you have, from newspaper routes to payroll, from tips to child support, from garage sales to selling lemonade, everything – and write that down.
“5. The final step is to compare and see where you’re at in the whole scheme of things. How much do you spend and how much do you make and what are the differences. Confront it, look at it in essence, be it! You will find that you are more in control of your finances and your life.”
The full article can be seen at: http://thedebtlady.com/blog/2012/05/25/5-steps-to-a-better-financial-life/
Ms. Simpson stated “We as Americans are hundreds of millions of dollars in debt and still climbing. When does the climbing stop? When is somebody going to do something about it? When are we going to get off our asses and confront this thing head on? When?, I ask. Today!, I say. Here are 5 steps that you can take right now to start taking control of your finances and your life.”
Jerri Simpson, “The Debt Lady”, has over 30 years experience in the financial industry, from starting with hands on experience at a bill collection agency to opening her own debt settlement company with over 2,500 clients throughout the US. She sees clients every day, helping them solve their financial problems, manage debt and work with the ever-changing lending industry. “Paper or Plastic: A Guide To Financial Health And Prosperity” is her first book, teaching financial management solutions to the average consumer. Her articles on finance can be viewed here: http://thedebtlady.com/blog/article-directory/