Credit Counseling Services Overview
How Credit Counseling Works How the Debt Management Program Works What Our Services Cost
Financial Tips
Ways to Save Money How to Improve Your Credit Managing Credit When Your Life Changes
Budgeting Tools and Calculators
Housing Counseling
Group Presentations
Client Testimonials

What can you do?

Take control! It is all too easy to swipe that credit card at the checkout. You don't feel the pain until you get your credit card statement in the mail. Train yourself to manage your money more wisely by:

• Always shopping with a prepared list.
• Taking only enough money for the items on your list.
• Always showing your family all of your purchases (hiding them means you feel guilty about what you have spent).
• Avoiding shopping with people who encourage you to spend.

Create a Household Budget

Everyone needs a household budget. Divide up your monthly expenses:

• Fixed (dollar amounts stay the same from month to month).
• Variable (dollar amounts vary from month to month).
• Periodic (only from time to time).

Set goals for allocating your household budget properly. For instance, about half of your income should be allocated toward housing and food (30% and 20% respectively). It is a good rule of thumb to not apply more than 15% of your income toward personal debt, and always try to apply at least 10% of your income to savings. The rest of your income (25%) should be divided up accordingly among areas such as transportation, utilities, insurance, clothing, health, and personal care.

Although debt management can be challenging, it is important to constantly remind yourself of the big picture. Think of the long-term goals you would like to achieve. A debt counselor can help keep you on track.

Save Money

Cutting corners here and there can add up to significant savings. The key is to do it regularly and as a part of your daily debt management routine. Here are a few tips to get you started:

• Weather strip your windows for added insulation.
• Avoid eating out for lunch (it can really add up).
• Consult a do-it-yourself book for simple home repairs.
• Keep your car tires inflated to increase fuel efficiency.
• Attend gallery openings, art walks or free concerts for entertainment.
• Time your clothing purchases around holidays to take advantage of sales.

ClearPoint has much more detail on the many ways to save money on this website. Click here or Contact ClearPoint Financial Solutions, a non-profit debt counseling/management agency, for more money saving tips.