If your financial situation is starting to get out of control, you might have a hard time deciding whether you can manage it on your own or you need outside assistance. In this podcast, we explain some parameters that can help make this a clearer decision for you.
Welcome to the CredAbility [now Clearpoint Credit Counseling Solutions] podcast. Along with your host Mechel Glass, here’s Steve Moore to open today’s discussion on whether now might be the time to get help with your finances.
Steve: Well Mechel, where does one turn when you realize you need financial help or maybe you don’t even realize you need financial help, what would be the symptoms of that?
Mechel: Maybe they’re making only the minimum payments on their credit cards or they’re experiencing over the limit fees and late fees. There are collection agencies that are calling their home or calling their workplace, maybe they’re having trouble sleeping because the bills are just overwhelming. Those are some signs that maybe it’s time to seek out some financial help. A place that can give me tips, a place that I can trust, that’s going to handle my information confidentially and can give me guidance as to what should I do because I’m overwhelmed with this debt.
Steve: Yeah, if you’re getting phone calls and you can’t sleep at night, those are two very good signs. And what else?
Mechel: Let’s say that it feels like you’re constantly living Paycheck-To-Paycheck even when you get a raise. Many Americans are living Paycheck-To-Paycheck and that’s not how it should be. When you get a raise, it should be extra money that you can do something fun with, but if you get a raise and the money is already gone before you’ve even got it in your checking account, that’s a sign that you might be in some financial trouble. So I would suggest that people visit us on the website at CredAbility [now Clearpoint Credit Counseling Solutions].org, where we have tips and resources that can provide them with guidance to help them get back on track. Also, if they really need assistance and they want to talk with someone, then call a full-service credit counseling agency like CredAbility [now Clearpoint Credit Counseling Solutions], where we can help anyone across the United States with their personal finances.
Steve: Financial problems often show up in our credit card bill, don’t they?
Mechel: That’s exactly right. If you have credit cards that are at 28% interest rate or 30%, that’s a sign that maybe I need to do something about this. And if you’re using one credit card to pay another credit card and you’re constantly switching balances from one card to the next and getting charged each time you do that, that is not the way to go. That’s where you need to stop, assess your situation, and if you can’t do it yourself, call for help. We have several classes that are online that teach people how they can help themselves get out of debt. So let us help you through this process. Understand that you’re not alone. There are millions of people out there going through the same problem and there’s nothing to be ashamed about. Just call us and let us help you out.
Steve: This may sound a bit outside the box, but if you’re thinking about making a trip to Vegas or buying more lottery tickets to get out of debt, to get your family on even footing, again a sign that things aren’t quite right in your finances and you need some assistance.
Mechel: That’s exactly right. Don’t look at the lottery as a way to try to raise money or to get out of a situation. And if you and your spouse are fighting over money, that is a sign that you need to get some help. And we can have both of you, you and your spouse, on the line or in our office and work together as a team to change the situation not only for you but for your children.
Steve: Thanks, Mechel.
Mechel: Thank you.