Common Cents Budgeting Tips

September 2004

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In This Month's Issue
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Inspiration for the Month
From The Budget Coach
Featured Tips or Information
Finding the Right Credit Help
Your Question for the Day
Special Offer of the Month
Recommended Resources
Contact/General & Unsubscribe Info

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Inspiration for the Month
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'Never spend your money before you have it.'
--Thomas Jefferson

'Remember happiness doesn't depend upon who you are or what you have. It depends upon what you think.'
--Dale Carnegie

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From The Budget Coach
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Welcome to my 'Common Cents Budgeting Tips' Newsletter.

I'm delighted to have the opportunity to share these tips with you. Remember, you are a vital part of this whole exchange and if you ever have questions or some valuable experience or resource you want to share with others, please don't hesitate to let me know.

Many of the new sections that were added to The Budget Kit workbook over the various revisions these last many years, came from insightful readers and clients like you who wanted to help make a difference.

'Common Cents Budgeting Tips' is published monthly. The focus of this monthly newsletter is to provide you with some quick money management tips and ideas you can immediately begin to use. I may go bi-weekly and add a second issue soon to touch on the personal side of money and budgets.

Remember to email me judycents@moneytracker.com with any tips, resources or comments you would like to share as well as any questions. Working together is how we can all make a difference in our financial lives.

I am offering a complimentary 30 minute coaching session with me.

I would love to hear how you are doing and help in anyway I can. For your free session, email me with 'Time Slot Request' in the subject area.

Have a fulfilling and prosperous day!

To Your Success,

Judy Lawrence
Personal Budget Coach
Best-selling Author, The Budget Kit, 4th Edition
judycents@moneytracker.com
http://www.moneytracker.com

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Tips & Information - Finding the Right Credit Help
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This past month I've received many calls requesting my
recommendation for finding legitimate credit help. With the
holiday season fast approaching, the topic seemed very
appropriate for this month's newsletter.

It's really getting very challenging to know who to trust
and what to do with the bombardment of debt management
service ads coming from all directions.

Unfortunately, some of these 'non-profit' agencies have
close ties to for-profit companies and are actually harming
the consumer and creating more debt.

The last thing a stressed, debt-ridden consumer wants is to
spend time investigating every credit counseling agency
they call. Yet, the responsibility is still on the
consumer to beware and do the research.

To streamline this process, let's go over 7 key questions
to ask before doing any business with a company.

==>How long have they been in business? Look for a company
that has a history of at least 10 years and been through
some of the various economic cycles.

==>Have any complaints been filed with the local Better
Business Bureau or State Attorney General's office?

==>What company policies exist to protect the client funds?
Do they retain any of the monthly payments or portion of
those payments?

==>What are the fees? Look for set up fees no higher than
$50 and monthly fees lower than $25. Don't fall for the
'Voluntary' fees unless you are allowed to pay only what
you can afford and don't feel pressured. Beware of any
required educational materials costing over $25. Ask for
specific information about these fees. Get this quote
in writing.

==>Are employees paid by commission if you sign up? Do you
detect a hard sell? Someone may sound like they are reading
from a script or may be trying to sell you on a
consolidation loan.

==>What services does the agency provide? Look for
appropriate services beyond debt-management, such as
budget counseling, educational classes or other resources.

==>How much time will they spend with you? If you are
offered a debt management plan in less than 30 minutes
flee that situation. What took you years to build up can
not be evaluated and resolved in 30 minutes. A reputable
service will take at least 30 to 90 minutes and carefully
review all of your debts, bills, income and personal
situation.

So where do you start?

==>Ask around with people you know and trust. Often
professionals you know in the financial industry -
mortgage brokers, realtors, financial advisors, planners
or counselors, bankers, insurance agents, and accountants
often have reputable resources. They will do their own due
diligence before recommending anyone.

==>Contact your local Consumer Credit Counseling Service
(CCCS). They are still the best place to start. Be sure
they are a member of National Foundation for Credit
Counseling (NFCC) or Association of Independent Consumer
Credit Counseling Agencies (AICCCA). Both have
established professional and training standards all members
must meet. Even so, when you call, ask them the above
questions.

==>And finally, do all the obvious steps yourself: contact
the creditors to work out payment arrangements, pay down
your debt, stop spending, find ways to cut costs in all
areas and explore ways to raise more money.

The most important message is to stay focused and patient.
Be sure to have some moral support and remember not to
give up!

For more information feel free to contact me at
judy@moneytracker.com

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Your Question for the Day
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Do I sometimes buy things I don't need with money I don't have to impress people I don't even like or to fill some emptiness I don't even know exists?

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Special Offers for the Month
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FREE 'Budgeting Without Tears' e-Course

If you haven't already, sign up for my f.ree e-course 'Budgeting Without Tears'.

You will receive a series of educational tips to help you get your finances in order and your budget plan started. Granted, you will not be supplied with all the worksheets, road maps and formulas that you get in The Budget Kit, but this will provide you with additional information that will prove to be very useful in getting started!

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Resources
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A network of non profit community organizations providing
consumer credit education and debt management services
http://www.nfcc.org/

Association of Independent Consumer Credit Counseling
Agencies (AICCCA)
http://www.aiccca.org/

Article on CBS MarketWatch site
CBS MarketWatch - Credit counseling industry in upheaval

Nonprofit resource for financial information and personal
finance education
http://www.financial-education-icfe.org/

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Books by Judy Lawrence
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Feel free to visit my Money Tracker website to learn more:

http://www.moneytracker.com/books.htm

The Budget Kit:Common Cents Money Management Workbook
The Money Tracker: Find the CASH to Get What You REALLY Want
Daily Riches: A Journal of Gratitude and Awareness
The Family Memory Book: Highlights of Our Times Together

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General, Contact & Unsubscribe Info
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