♪ Thousands of Albertans carry
some form of unsecured debt
from month to month. Some are managing modest payments
and for others, debt is a huge
burden hanging down their necks. ♪ Number one. Start with a
realistic plan. Identify exactly what you
would like to achieve, choose a timeline that suits
your budget, and get specific.
And remember, write it down. Number two. Get Organized. Have a clear picture of
where you stand financially. Review your income, investments,
insurance, assets and debt. Number three. You need a budget. In order to reach your
destination, you need to know
how you are getting there. A budget can help you make
informed financial decisions. Number four. Negotiate with your
creditors. Just one phone call to your
creditors can reduce your
interest rate. If you have good credit and
you are a long-term customer,
they may listen to your story
and help you. Number five. Consolidate
your loans. Consider a consolidation loan
that brings together all of your
debts under one loan so you only have to make one
monthly payment. And make sure that that loan
has a low interest rate. Consider FREE Credit Counselling
to achieve your goal of
financial independence. Money Mentors has fully
accredited counsellors that can help you review
your debt situation and identify repayment options
that you may not have thought of
on your own. Visit moneymentors.ca for
more information, tips,
and tools for financial management. ♪