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Posts tagged "Credit Card Debt"

Get credit card debt under control

Many consumers in Florida and around the nation utilize credit cards as part of maintaining their budgets. However, the average family in the county now owes more than $8,000 in credit card debt. The total of this debt for the nation has now increased to over $1 trillion. Experts strongly recommend that individuals reduce the amount of credit card balances. Advisers from a national financial television network offered suggestions on how to eliminate credit card debt.

Debt consolidation one way to reduce credit card debt

Many Florida residents and others around the country often use the equity in their homes to get a debt consolidation loan. Interest costs can be considerably lower, and proceeds are frequently used to pay down mounting credit card debt. While paying down debt is important, experts from a consumer financial website don't recommend using funds from a home's equity to do so.

Credit card debt a problem for many Florida consumers

For the average Florida consumer, credit cards are fairly easy to obtain. Companies send offers through the mail; department stores offer them with almost every purchase. While the offers may be enticing and the benefits attractive, credit card debt can prove to be a financial problem for many individuals.

Helpful tip to better manage credit card debt

Many consumers in Florida and around the nation use credit cards every day for various financial transactions. Analysts from a financial planning website acknowledge that the use of credit cards is not a bad thing. However, credit card debt is a growing problem in the country. Experts offer advice on how to reach financial goals more quickly and how credit card usage may affect those goals.

Rules to keep credit card debt under control

Many households in Florida and around the country have a least one credit card utilized for a variety of reasons. While credit card debt in the nation is growing at an alarming rate, it is vital to be informed on how to most effectively use this common financial tool. A consumer financial website has offered advice on how to wisely make the most of the credit cards someone has.

Credit card debt continuing to increase in United States

Financial industry experts report that the economy in Florida and around the nation is steadily improving since the recession in 2008. One indicator of this improvement is a willingness to lend money to consumers again after years of strict guidelines. While this is a sign of a strengthening economy, levels of credit card debt and other consumer debt are increasing for many households.

Consumers need more emergency funds than credit card debt

Many Florida residents and others around the nation maintain an emergency savings account to help them when unforeseen expenses occur. However, a financial services company recently reported that nearly half of all consumers have more credit card debt than money in their emergency funds. While roughly 17 percent of people in this country have no credit card debt, it was determined that they have no emergency account. Analysts are concerned that many in this situation face the real possibility of experiencing high-interest debt should an emergency occur.

Avoid this mistake when paying off credit card debt

The consequences of overspending can prove costly for Florida families. For many, overspending can result in a large amount of credit card debt. In the short term, it may mean that a consumer has less money to use for current needs since there are fees and interest to be paid. For the future, someone would likely be left with less money for investment. While reducing or eliminating credit card debt is often a goal for consumers, approaching it the wrong way can lead to a negative impact on finances.

Remedies exist to prevent credit card debt causing insomnia

Although it is true that money cannot guarantee happiness, it can certainly provide peace of mind to most people in Florida and elsewhere. However, when things like credit cards are not handled responsibly, sleepless nights may follow. An interesting new study shows that more than 65 percent of consumers who suffer insomnia also have money problems that -- in many cases -- include credit card debt

Ways to reduce credit card debt

Many families in Florida and around the country have managed with one income for a period of time, either by choice or necessity. However, there are times when both parents are in the workforce again. An issue then arises on how best to manage an increased income for the family. A personal website addresses financial situations such as saving more, spending less and paying off credit card debt.

Paul Urich
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Law Office of Paul L. Urich, P.A.
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