Debt Management

College is over and her come the Creditors: Tips of debt management

 

 

 

 

 

Are you counting down till the 6months before you become a check book toting, rent paying, suit wearing, 40 hour a week, loan crisis adult? Well let’s not wait till the endless phone calls, letters, and emails fill up your mailbox and inbox from creditors. Get prepared NOW!

·         Do you know what your credit score is?

·         Do you know what’s on your credit report and who is running your credit?

·         Do you know your total student loan and Credit card debt?

·         If you answered NO to any of these questions KEEP READING!

For starters let’s get you in the know

1.       Start by going to Annualcreditreport.com—ITS FREE

2.       Creditkarma.com is your next stop to get your credit score and credit advice—ITS FREE

Now that you have this you should have a good grasp on your debt. You should know who will be calling you in 6months. Visit the website of the creditors and create log info in order to check the status of your loan, which should also be stated on the credit report too (delinquent, forbearance, deferred). Now organize that data.

Name	Log in	Passcode	Amt	%	Status	Comment
FedLoan	4****	15****	25000	5.5	Repayment	Mthly bill $25
Capital 1			1000	29.88	Delinquent
Medical			166	0	Delinquent
Student loan			30,000	5.5	Deferred	Start date Jan. 23
subscription			175	0	Repayment
Furniture			9,000	0	Delinquent
verizon			1,000	0	Delinquent

 

Before going for the big boy make a short term goal first then go on to the long term items. So let’s talk about short term financial goals. Short term in this case will refer to the smaller, delinquent or close to repayment debt.

 

Short term debt goal( less than 5,00):

 If you can “Pay It OFF” If not you have some options. Start by organizing the debt into categories of high urgency and low urgency. Below I have defined how I would develop this plan.

Bull S***

The Bull S*** Meter

The BS Meter is an essential tool in personal growth. Many of us go through life playing out this weird “I’m a celebrity in my own eye,” "Reality TV" fantasy world.  Living a high class life style on a Ramen noodle budget and wondering why at the end of the month your bank account is  -0.

It’s time to quit the BS and live your real life. The life where you sometimes have to say, “no I can’t go out tonight” nor “do I really need another red pump”.

It’s time to build a quality life and not a superficial one. Where looking at your account doesn’t create the “The Shudder Effect” (to cringe at your account amount) or deadlines don't overwhelm because they are already met.

Now what excuse do you tell yourself? I deserve it because I had a hard day. In only 10 minutes late. Do you believe the excuses?

“That’s some BS”

Free yourself from the shackles of society, opinions and guilty pleasures and here’s how to do it.

1.       Start setting  goals

2.       Keep your BS meter on at all times

3.       Create a dream board and visit it every day

4.       Recruit help from friends or professionals to help keep your motivation

5.       Have confidence in yourself and don’t give up

When it comes to goal setting here is a Tip:

Mind Your Business & Get Ahead

Mind Your Business & Get ahead

 

What is it about the job gossiper that erks your nervous? It’s the lack of professionalism, intelligence, humility and the same reasons your boss hates them too. I’m sure you know exactly who I am talking about. Keep their name to yourself but you know exactly who I’m referring too. On every job I’ve held there is always someone who shares too much or gathers info on you to use for ill intentions. I had to learn very quick that not everyone is your friend and not everyone has good intentions.

Keeping your business personal and close to home will actually help you in your career.  A great example of this is in popular figures in pop culture is mega star Beyoncé. Beyoncé has been able to keep her private life.....well "PRIVATE" and when she decided to share she did it on her own terms by releasing “Life is but a dream”. We all should adopt this philosophy controlling the information that is said about  us. It gives  you control over the sources. There is nothing wrong with having a work persona and a home persona, mixing the two can taint the way others perceive you.

Think about your ultimate goal of working, make more money, and make more money! So who do you think they will give the promotion to? The employee who wines all the time, comes to work mad at the world, and everyone knows exactly what’s happening in their household or the respectable, friendly well-polished, never letting personal stuff effect there appearance or attitude employee. Im sure your picked the second employee.

Here are some tips on topics that are off limits

·         Negative stories about your significant other

·         Your financial state

·         Your daily health aches

·         Anything sexual

·         Other co-workers

·         Unnecessary gossip

·         Complaining about pay or the job

Try keeping the conversations light, even if your co-workers don’t share the same philosophy. I’m not saying don’t share anything about you. I’m saying censor the information you disseminate. Stick to topics such as:

·         How was your day(people they don’t really want to know, just say FINE)

·         Weather

·         Children accomplishments

·         Current events

·         Recipes

·         Sports

The main thing is to keep them guessing. Your co-workers shouldn’t be able to tell your life story for you. So think about what picture your co-workers can paint about you.

By: Shakiyah Woods

 

Thoughts on a snowy day!

This Snowy day has brought me happiness!

Being an entrepreneur can be extremely tough. So many people doubting your abilities, cultural stigmas, and economic downfalls. However, I know what really makes an entrepreneur is a person who sees the success through it all, pushes forward even when the odds are stacked against them. I think about that so often and its what gets me through. I constantly ask the man above for guidance and honesty. I ask him for trials and tribulation because I know those tests are what will get me through my next crisis.

I want to succeed so bad I can visualize it but I know there are steps, goals to accomplish, and work that has to be done. I have made the necessary steps to be success. I am making decisions that will develop my craft and set me up for success. 

So I ask what are you doing in order to create your happiness? No one is going to give it to you not even the man above. He even requires good works to get your blessings. 

Just thought I would drop a note on this snowy day!

Get your House in Order

Get Your House in Order

Its time to reflect on your spending for 2013, AHHHHHHHHHH I know, I know, you don't want to reveal all your bad habits right. Even though you should be doing this weekly but we will not go there this time. Well in order to change the future you have to reflect upon the past. Every bank now has purchase analyzers, and budget tools. Take a minute to look at your institution. It should give you a snapshot like the one below:

 





 

So now that you have taken that brave next step and taken a look at your current financial state.

 

What does it say? Are you proud, sad, disappointed?

 

If you find that your banks tool are not user friendly or easy then there are other options.

 

My rule of thumb is make it easy for yourself. Most people don't budget b/c they over think it. This technology era we live in has made life so easy."There's an App for that"