Take Charge! Dig Out!

The bills come in, and there's stress. The phone calls start to come, and there's stress. Dealing with debt can feel overwhelming. New research shows that women suffer greater anxiety, and have more difficulty coping with the stress that money trouble brings. You can't run and hide from it; you need to be honest with yourself and face it to get out of debt! Our friends, the experts at Clearview Federal Credit Union (link to clearviewfcu.org) are here to help.

Basic Steps to Getting Out of Debt

Mary Ann Demchak, an accredited financial counselor, and financial education and community outreach advocate with Clearview Federal Credit Union offers this advice:

• Your gross may look wonderful on paper, but if your net is less than your bills, there will be problems! The amount of major credit card debt is testament to that. Keep a spending diary to track expenses for one month to get a clear picture of what you really need "to live."

• Know what your net is and what you owe-this is a must! It's amazing how many people have no idea how much debt they are actually in. Do you keep a log of your revolving and installment debt? Keep a chart of what you owe, who you owe it to, the APR, and the due dates for each.

• Learn to distinguish between your wants and your needs. Before you make a purchase, think it through. Does it fit into your plan for debt reduction?

• Identify your personal goals. Where do you want to be financially in the next five years? How will you get there?

• Know what your options are. What resources are out there to help? Explore all options: your credit union, outside agencies that specialize in debt management and/or counseling, using your own methods.

• Commit to making positive changes in the way you live. If you stay on the same course you can't expect to get a different result!

• Save for the future as part of your basic financial routine. Saving is an important part of any healthy debt reduction plan.

• Create a plan and stick to it! Empower yourself to make a difference in your financial future.

Need more personal advice? Clearview Federal Credit Union members have access to many free services and resources.

> Click here to find out about eligibility
> Click here to find out more about membership

Seven Little Tips to Save Big

Take a few minutes to sit down and think about the little things you can do that will add up to big, pain-free savings! Here are some ideas:

1. Hold a garage sale-one person's junk truly is another's treasure

2. Do some bartering with friends/neighbors-swap a grass mowing for a night of babysitting, etc.

3. Consider stopping landline telephone service if you have a cell or stop cell service if not necessary.

4. Visit consignment shops-the prices are great and it's fun!

5. Pack your lunch instead of eating out. Even fast food at $6 a day, three times a week adds up to $72 a month that you could be keeping in your pocket!

6. Keep family movie night at home. Renting a movie or finding an oldie but a goodie on one of the movie stations you're already paying for, popping some popcorn, and cuddling up together on the couch is fun, budget friendly entertainment.

7. Limit the fancy coffee (sorry fancy coffee stores). Cutting back on your specialty coffee purchased could save you enough money to buy your own home specialty coffee machine that you can use at a fraction of the price.