Credit Card Debt and Emergency Funds Saugerties NY

Without a budget, you won't have money for either debt or savings (let alone something like a nice vacation). Here in the following article, you will learn some information about how to manage personal finance.

Local Companies

Ulster Savings
(845) 338-6322
180 Schwenk Drive
Kingston, NY
Debt Reduction Services of New York
(631) 727-4540
Riverhead, NY
Credit Services
(631) 549-2900
775 Park Ave Ste 255
Halesite, NY
Consumer Credit Counseling Svces
(716) 712-2060
40 Gardenville Pkwy W Ste 300
Buffalo, NY
Debt Consolidation
(585) 271-4080
Rochester, NY
Community Credit Counseling
(631) 233-8700
95 Oser Ave Ste B
Hauppauge, NY
1 2 3 Credit and Debit Counseling Service
(315) 797-7020
Utica, NY
Isaacson David
(845) 638-3333
130 N Main St
New City, NY
Scient Debtor In Possessions
(917) 368-8433
405 Lexington Ave
New York, NY
1 2 3 Credit and Debt Counseling Service
(914) 664-2107
Mount Vernon, NY

The Debt Adviser by Steve Bucci • Bankrate.com

Dear Debt Adviser,
I have a significant amount of credit card debt that I have accumulated through the years -- about $18,000, actually. My credit is fine. I pay more than the minimum payment and on the small balances I pay it in full each month. I know one of the reasons why the balances haven't decreased is because I continue to spend money on things I "need." I have $13,000 in my savings. I've been trying to start my emergency fund while paying down my debt. My question is: Should I use my savings to pay off most of my debt? Thank you.
-- Rachel

Dear Rachel,
Ah, yes, those things we "need." They'll get us every time if we're not careful. Using your savings now to pay off your debt is not something I would recommend. You are clearly spending more than you are earning, and I am concerned that if you bled your savings to pay your debts, you'd be so impressed with your new low balance that you would spend back up to the $18,000 limit or beyond. I am also worried that you think things are fine, and yet you have a credit card debt level that would choke a horse!

Let me tell you about two of the people who came to see me during my credit counseling days. One had a $500 balance for the first time and thought the world was going to end. Another had 23 credit cards and, until the last one maxed out, didn't think he had a problem.

Click here to read more from Bankrate.com

Featured Local Company

Ulster Savings

(845) 338-6322
180 Schwenk Drive
Kingston, NY
http://www.ulstersavings.com

Related Local Event
Learn How to Reduce Your Credit Card Processing Expenses
Dates: 11/11/2009 - 11/11/2009
Location: Albany-Colonie Regional Chamber of Commerce
Albany, NY
View Details

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