Lessons From The Detroit Bankruptcy

A couple of weeks ago, the federal bankruptcy court approved the petition of the city of Detroit to declare themselves bankrupt. This means the city’s debts will be discharged - municipal bonds, pension debts, healthcare benefit debts, and other credit obligations to financial institutions. They are asked to submit a restructuring plan on March of 2014 that will indicate the city assets (e.g. art collections) that they can sell off. The profit will be distributed towards their creditors and whatever cannot be paid will be discharged.

The reason why Detroit had to file for Chapter 9 bankruptcy is because of their dwindling revenues from taxes. The local government had to rely on credit to pay for running their city and providing the benefits that they needed to satisfy. It was really a disaster waiting to happen and we can learn a lot from their mistakes.

Here are some of the lessons that we can get off of them.

• Take action now. In our own personal finances, we always try to make light of many things to keep ourselves from feeling too depressed about our mistakes. While this is okay for motivation’s sake, it can sometimes be dangerous. If you can act on the problem now, then make the necessary sacrifices to avoid further destruction of your finances. Stop deluding yourself that your debts will go away if you ignore them. If you need to earn more, there are legitimate work at home jobs that can help you grow your money for debt payments. It is better to sacrifice your time now if it means you can save yourself from bankruptcy later on.
• When all else fails, it is okay to opt for bankruptcy. In case things have gotten out of hand and you have no choice but to declare yourself bankrupt, then just dive into it. If you think that no second job or negotiation efforts will save you from your creditors, then just file for bankruptcy. Prolonging the situation after exhausting all the other options and still be in a financial rut will only make things worse. The interest, charges and other fees will only add up to grow your debt even more.
• Let go of the disappointment. Bankruptcy, although it paints you as a financial failure, should be taken as a positive light. Do not wallow in self pity and just be as optimistic as the mayor of Detroit. He encouraged his city to just move forward and concentrate on fixing their city.

As Detroit is trying to get back up to rebuild their city, so you need to start looking at how they will do it to find motivation to get yourself back up as well. This whole event makes you realize that financial difficulties can target anyone. You need to stop deluding yourself into thinking that you are immune to it. Even if you are earning a lot right now, that is not an excuse to be reckless with your money. Be wise with your financial choices to keep yourself out of financial difficulties.

Does It Make Sense To Use Credit Cards During Emergencies?

It seems like a good idea to get rid of all your credit cards save for one. The purpose of this one credit card that will be left behind is to help you maintain a good credit score and help tide you over an emergency situation.

But then again, is it really a good idea to use your credit card in times of emergency? If you had just gone through the tedious debt consolidation or the risky debt reduction, you are sure to be committed to staying away from debt. Don’t you think that an emergency credit card can push you over another debt pit? There are instances wherein this seems like a good idea but do you really want to rely on it when the unexpected happens?  

The thing about the unexpected is you do not know when or what will happen. There is no doubt that your emergency credit card can handle the amount no matter how expensive it is. However, there are a couple of important facts that you may want to consider.

First of all, you just solved the unexpected situation with another problem. Remember that you just used a credit card to pay for that situation. Although the crisis is past, you have to face yet another problem - paying off the debt on your card. Remember that any purchase that you will make must be paid back to the creditor. If you spent it on an expensive purchase, you will be carrying it over to the next billing cycle. That will incur finance charges and grow your debts. The interest in itself is a waste of your money.

Another problem that you may not realize at first is you will no longer be forced to look for better options. Using credit cards are much more hassle free and convenient. Why go through all the trouble of looking for financial assistance from government agencies when you can easily swipe your card to pay off something? You will be losing the benefits that you could have qualified for.

Lastly, and as mentioned previously, using credit cards to tide you over an emergency situation will endanger you to fall into another debt pit. You do not know how much it will really cost you. One emergency can drag you back into debt. You have to go through the debt relief process all over again.

It is alright to keep your card but it has to be for the purpose of keeping your credit score high. That way, the expenses you make on your credit account will be something that you planned and budgeted for. You can pay it off immediately and that will really keep your credit score up.

But what about emergencies? Simple. You have to save up some cash for it. A cash reserve fund will serve you better than a credit card. When you use it to pay off your emergency situation, you can forget about it immediately. You don’t have to worry about the payments that you have to make after. Your credit card can still be used but only when your cash fund is already depleted.

To Give Or Not To Give: Credit Cards And College Kids

When your kid is about to go to college, you need to prepare them for a lot of changes and responsibilities. They will be living on their own while getting a higher education and you need to equip them with the right knowledge and skills that will teach them how to be mature adults.

One of the hardest lessons to teach is financial management. Even parents still have a lot to learn about it. The average American household is burdened with debt and you want to make sure that the future household of your child will not be part of this statistic. But to teach them how to avoid debt, you have to dangle in front of them the temptation of debt. And what better debt temptation is there than credit cards.

These plastic cards are one of the things that you have to entrust to your child before they go away to college. They need this to help finance their daily expenses and to help them build a good credit reputation. Some parents, especially those who are struggling with credit card debt themselves may be hesitant to pass on this problem to their child. However, if you do not let your children make their own mistakes, they will never learn the lessons that will make them stronger in the future.

Credit cards are the perfect way to teach your kids about proper financial management. It’s actually all about establishing rules about credit cards.

One of the important rules include who gets to pay for the card. This has to be very clear. You can ask your child to get a part time job to pay for the credit card. Or you can tell them that the payment should come from the allowance that will be coming from you every month. Teach them how to create a budget so they can learn how to live within their means. Make sure to teach them that basics of budgeting before they move away to college.

You also have two options in issuing credit cards. One is to co-sign it with your child and the other is to let them own the card themselves. Again, whatever you decide, make sure your child understands that any purchase on those cards will be on their tab. Be firm about not bailing them out if they rack up a huge debt in their cards.

Before you issue the credit card, make sure the following points are clear:

1. Purchases made on credit card uses the money of the credit card company - not your own. They need to pay it back.

2. Credit card companies are not patient when it comes to payments. The have to pay them at least the minimum amount and pay them on time.

3. Late penalty charges and interest rates are a waste of money so try not to add this to the balance. Learn about the billing cycle and the grace period to avoid incurring both.

4. Credit scores can be greatly affected by credit card use.

Trust your children when it comes to their financial decisions so that means you have to maintain a respectable distance. Do not make the decisions for them but make sure you are still near enough to remind them of how to make the right choices.

Of course, the best teacher is one who lives by what they teach. You cannot force your child to practice wise financial management if you do not implement it in your life.

Debt Traps That You Should Avoid

There are many causes for your debts and most of them come from your own decisions. However, there are subtle hints that are coming from your own circle and society in general that contribute to the wrong decisions that you make in your life.

Consumerism is rooted deep into our system that you need to be very careful about the suggestions that you receive from your environment. Though most of them mean well, they can actually be considered as debt traps that can give you quite a problem in the future.

One of the obvious debt traps that you should be wary of are advertisements. Remember that corporations spend millions on their marketing campaigns. They design every detail to encourage you to spend your money on them. Be very careful when you get the urge to buy something after seeing an advertisement dedicated to it.

Sale events and product promotions are also something that you have to filter when you are deciding to buy something. If you do not need it, no discount can be considered as savings. Despite the smaller expense, it will still be a waste of your money simply because you do not need it. Make that a rule in your spending. If you do not need it and if you cannot afford it, do not buy it. Even if you have the money to spend, just put it in your savings or invest it in something else that will make it grow. That the how you make wise spending choices.

Suggestions from the people close to you can also be considered as debt traps. We all want to give everything to our children but you have to keep your budget in mind. It is better to save for their college fund instead of buying them another high tech car when they have trunk loads at home. It is better to let them wear hand me downs when you know that they will outgrow the clothing in a month or two. It is not really about being frugal. It is knowing where your money is best spent on to benefit your future. You are not really depriving yourself or making yourself go hungry.

It is important for you to understand that making smarter spending choices now will keep you in debt through your savings. Instead of making all those unnecessary purchases, deciding to put them in your savings account will help you finance any emergency need in the future.

Always consider your own personal needs before you decide to purchase something. As mentioned, most of the suggestions may mean well but if you cannot afford it, that can lead to a financial disaster. If you are battling with it, give yourself some time. A need to buy something usually goes away if it is just fueled by hype. But if there is a real need for it, time will not quench the thirst of acquiring it. A couple of days should be enough time for smaller purchases but for expensive ones, give yourself a month to think it over.

How To Put Your Personal Finances In Order

Debt stems from the fact that you have been unable to put your finances in order. That is true even if the primary reason for your debt is a current illness that is digging deep into your monthly salary. If you had been good at practicing the right personal financial management, you should have savings to finance that emergency situation. You should not have been put in a position that requires you to borrow money. The same is true if your debt was a result of a job loss.

So the simple solution to your money problems is actually just a better financial management on your part. But the question is, how can you do that. Debt requires you to change something in your life and that will depend on the gravity of your problem. To help you out, here are four important concepts that you should think about adapting in your life.

Financial goals. If you really want to improve the financial aspect of your life, you want to set up goals for yourself. This is a good motivator and will push you even as you go through the tough times in your financial life. You will be besieged with spending temptations always and your goals will help keep you from straying. You can aim for bigger savings to buy a home or put up a business. Or you can aim for a debt free life in 5 years. These are goals that you can set your eyes on for your future self.

Monitor your spending. It is also important that you monitor where your money goes. This is one of the biggest culprits in putting your finances in complete disaster. See where every penny is spent on. If you have to write down the details, you may have to put yourself through the tedious task. This is a great way for you to define the problem in your finances. Are you spending too much on entertainment? You need to cut back on that a bit. Do you have too many subscriptions? You may have to consider terminating some of them. Or are your credit card payments taking up most of your extra money? You could put yourself through a debt relief program to help pay it all down.

Set up a budget. Once you have identified the problem, you need to make sure that you will not put yourself further in debt. This requires you to create a budget that will tell you where every penny should go to. The technique to keep yourself from falling short is to place your net income - not the gross. Identify your priority expenses and ensure that they are all funded. Align your budget so it supports your financial goals. For instance, if your goal is to boost your savings, put that in your budget. As soon as you receive your income, you can remove it off the top so you won’t miss it.

Track your net worth. You have to know your personal net worth so you can see your progress. This figure is the sum of your cash and the value of your personal assets against any debt that you owe. If your net worth is growing, you know that you are on the right track when it comes to your personal finances. If it is steadily going down, then you know that something is wrong and you have to fix that.

As you organize your finances, you will begin to develop the right financial management skills like budgeting, saving, smarter spending and the other habits that will help you live within your means.

Know When Credit Cards Are Just About To Make Your Life Hell

Let us make one thing clear: credit cards are not from hell. We are pretty sure that those who created these cards meant well by providing us with the means to protect our cash. If you lose your cash, the chances of you seeing it again is next to impossible. But if you lose your card, you can simply call your credit card company and have it cut off so the person who found (or stole?) it will not get the chance to use it. There are also the reward points and its capability to increase your credit score.

These are only a few of the things that credit cards will do for you. However, we cannot erase the current statistics of it being one of the top three debts that is crippling the average American household. But you need to be clear on what caused it in the first place - which, unfortunately, puts the blame on yourself.

Our debt is a result of several wrong financial decisions. For a lot of us, we fail to recognize the signs that our credit cards are leading us to ruin. To help you avoid this, here are some of the telltale signs that your credit card is about to make your life a living hell.

First is your use of credit cards. Are you using it to purchase the most basic needs of your family? If so, then your debt is in danger of growing. Credit cards should only be used for emergencies. If you want to use it for the most basic purchase, you should have the cash in your account so you can pay off what you owe during the grace period of the billing cycle.

Another sign that indicates your card debt is about to be unmanageable is when you can barely pay the minimum on your card bill. This is an indication that your debt has grown to a sizable amount. Sticking to the minimum payment will keep you in debt for a very long time. If you are working longer hours just to have enough to pay your cards or you are considering a cash advance just to pay off the incoming bill, then you need to reassess your finances.

If you have multiple cards, you may want check all of their credit limit. If you are about to reach all of them, then you are in big trouble. You need to stop using them and concentrate on paying them off one by one. If you are purchasing more than you can pay for the minimum every month, then you are setting up your card debt to grow exponentially.

Lastly, a clear sign that your card is going to start making your life undesirable is when collectors begin calling you. That means you have been late on one or more card payment. If that is the case, you should start to think about how you will pay it off.

If you don’t have these signs yet, that does not mean you should continue using your card for unnecessary purchases. Do not create a credit card problem for yourself because it is very difficult to get out of this type of debt. The high interest rate and the penalties just keep on mounting.

Fortunately for you, there are various ways to eliminate credit card debt. Look for the right debt relief option that is perfect for your debt and your financial capabilities.

How To Implement Budgeting In Your Home

If you really want to solve your financial problems, you have to learn how to take control of it. The best tool that you can use for that is a budget plan. It allows you to get a general overview of your income so you can make sure that you are only spending within your means.

Of course, deciding to budget is easy. The challenge is in the implementation - especially when it involves the rest of the household. But before you can implement, let us discuss how you can prep your budget so the family can adapt to it easily.

The creation of your budget involves a simple detailing of your income and expenses. While that is simple, it can be very tedious. But it has to be done so that you and your family can take control where your money goes to.

Here are some of the household costs that you will analyze in your budget.

The bulk of your budget will go to your home expenses. Usually, 40% of your expenses are spent for your home. Most of it goes to either rent or mortgage. Make sure that you list down the things that you need at home and you will not leave out the annual or quarterly expenses. Some people fail to place these costs on their monthly budget and usually, when the time comes for these financial obligations, their budget goes down the drain. So consider carefully and make sure your list is complete. The home expenses also includes your home taxes, insurance, maintenance and utility bills.

The second expense on your list is your transportation costs. This is the second expensive spend that you will have on your budget - at least when you own your car. From the car loan, insurance, fuel expenses and saving up for the maintenance - all of these will take up approximately 20% of your budget. If you want to trim this down, you can opt to use the mass transport system or carpool with colleagues. And if you have to run errands, make sure they are done in bulk so that you save on gas.

Another expense is for the food. This takes up around 15% of your total monthly budget. Although it is unwise to sacrifice the quality of your food, there are ways to save like buying in bulk or cooking at home instead of eating out. Marketing tips like buying fruits that are in season will allow you to eat them without spending too much.

Savings, health care and insurance expenses should also be a part of the list. Unfortunately, most households do not consider these as priorities. When there is are debt payments, this is the first to be cut off. These are all important and when prioritized, can keep the household from incurring debt when an emergency strikes.

Lastly, the personal expense is also a part of your budget. This is where you will get a lot of savings. If you really want to cut back on your expenses, this is where you will get most of them. This is where your entertainment expenses fall into. You need to regulate and make smarter choices on how much of your money goes to personal wants and needs.

When you are creating your budget, it helps to involve the rest of the family. This way, you can all decide on what sacrifices everyone can pitch into so you can start living within your means and in the long run, grow your household wealth.

Combine saving and debt relief for a lasting debt freedom

If you really want a lasting debt freedom, the best way to achieve that is by combining your chosen debt relief program with saving. Choosing between the two is not really an option. Both are equally important to take care of immediately.

We don’t have to go into details when it comes to debt payments. The bottom line is, if you refuse to pay off your debts immediately, your debts will grow because of the interest rates and other penalties that will be imposed on you. This is probably why people are opting to prioritize this over their savings.

Well that is where they are wrong. In order for them to solidify their quest for debt freedom, they need to combine savings with any debt relief effort that they will use. The thing about saving is it will keep you from incurring more debts.

Here’s how it works. When you are in a debt relief program, the chances of you putting all your extra money into your debt payment is very likely. You only use your income for the basic necessities so you can maximize your contributions towards your debt.

But what if something happens that requires immediate financing? It can be the car suddenly breaking down or it can be a busted AC. It can also come in form of a health issue. Where will you get your funds? Since your expenses are down to the bare necessity, you may have to use the money set aside for your debt payments. But if you have your savings, you don’t have to sacrifice any of your usual expenses. You only have to dip into your savings, pay off the immediate expense and work on replacing what you got in your own time. You don’t even have to put yourself further in debt anymore.

Another situation wherein your savings will come in handy is when your main source of income is suddenly gone. It can be due to job loss or you are not well enough to keep on working. Your savings can help provide for your family and debt payments for the next few months as you go and look for another source of income.

Of course, the importance of saving is easy to understand - it is the actual “saving” that is hard to do. If you are in debt, the chances that you are living on a limited income is very high. The technique to having enough to send towards debt payments and save at the same time is to choose debt relief option that will free some of your limited funds. Debt consolidation loans, debt management, debt settlement, balance transfer - any of these will help you achieve this.

You can also combine it with a frugal budget. You may be hesitant because of the harsh restrictions but it is only until you have grown your savings. Once you have enough on your reserve fund, then you can loosen your budget.

Earning more is also an option. There are many legitimate work at home opportunities that you can use to achieve this. Get a second source of income that will not burn your out. That way, you have more to allot for your savings and even a little extra for your entertainment needs.

Is It Possible To Use Debt Consolidation To Solve Student Debt?

Wondering if debt consolidation can help solve student debt? Of course it can. However, it will not be the same as the options of mortgage, credit card and other personal loans.

Putting yourself in debt for your education is a smart move but only if you are certain that you can afford to pay it off. While saving up for it is still a better option, there are certain programs that can help you get out of debt if things get too tough.

Student debt is a fast rising problem for everyone. Not only is it causing much distress to students and graduates, the retiring generation (baby boomers) find themselves in a deep fix because they are still not done paying this off. Also, it is scaring off high school students into pursuing a college education. We want to solve this as much as possible by letting people know that there are ways to make student debt payments more manageable.

We are of course, talking about debt consolidation. As mentioned it is a bit different from other types of consumer debt.

Your option will be more like debt consolidation loans. You will apply for it and when you are qualified, the Department of Education will buy your loan and you will end up paying them. The great thing about this is you will be paying a fixed interest rate from now on - much like in mortgage payments. This is another type of refinancing. Those paying off their student debt in this manner will enjoy a much lower payment requirement every month. Unlike in private debt companies, the Department of Education will not charge any fees for this transfer of debt. It gives consumers a higher chance of completing their payments because a bigger percentage of their monthly contribution will be sent towards the principal loan amount.

And if you are not qualified for this federal assistance, you can still use debt consolidation - however, it will not be a direct help to your student loans. If you have other debts that qualify for debt consolidation, enroll them in the program. It will allow you to make smaller monthly payments and thus free up some funds for student loans. If not to increase your debt payment fund you should use it to put money into your savings account. Growing your reserve fund will help ensure that any unexpected expense will not compromise your debt payments - especially those towards your student loan.

If you combine them, you will find more funds are freed that will keep your budget from being too restrictive. While the temptation to spend it may be great, try not to give in and grow your savings instead. Practice smart spending habits and put all your extra money into your savings. That will not only help you get out of debt but also out of debt.

Life Changing Decisions That Will Keep You Debt Free

Putting yourself in debt and getting yourself out of it both requires some serious decisions. You cannot accomplish it on a come-what-may attitude. You have to think about everything that you will do because it could land you deeper in debt or successfully out of it.

What you need to realize is that you should take charge of your debt because that is your personal responsibility. Despite external factors that seem to have made things worse, it all roots from certain decisions that you made in the past that affected your financial situation today. For instance, not saving in the past forced you to borrow money just so you can afford the sudden expenses required by your broken car.

So to help you keep a debt free life, here are some decisions that you may want to consider implementing.

First of all, you need to make a decision to save. Regardless of your financial condition, this will help you achieve financial freedom - or more specifically debt freedom. When you save, you are putting aside money that can finance unexpected purchases or expenses that you may have to make. These can be repairs for the house, your car or even that medication or treatment that is needed to cure an illness. Your reserve fund can literally save you - in the sense that it will keep you from the need to borrow and thus waste money on interest rates. Not only that, your savings will also help you purchase items or avail of services that would have otherwise forced you to use your credit card. It allows you to keep your luxury expenses without compromising the priority costs on your list.

Speaking or credit cards, this is another decision that you have to work on. Most of the time, people get into trouble with these plastic cards because they do not know how to use them. You need to make smart spending choices and that does not include making purchases on credit. If you cannot control your spending, you need to make a decision to stick to cash purchases. If not, you could rack up a significant credit card debt amount that can spiral out of control if you cannot pay for it immediately. The downside of this is the high interest rate and the many finance charges that can quickly grow your debt balance.

If you stop using credit to pay off your expenses, you may have a fighting chance to be successful in living within your means - which is another decision that you will have to make. For some people, this can mean a complete lifestyle change. If you got yourself in debt, that could mean you are spending more than what you are earning. You need to change this by making sure that you will stick to what your cash inflow can afford. Not only that, you need to remember to live below your means so that you have enough extra for your savings.

There are other decisions that can be as simple as buying that shirt or something more grand like downgrading your living conditions. Whatever decision you have to make, ensure that it will be smart and will keep you from incurring debts at present or in the future.

How To Use Your Credit Cards So It Doesn't Lead to Debt

Most of the time, people burdened with credit card debt are encouraged to give up using them for purchases. The whole concept of these plastic cards teach consumers bad spending habits. It gives them the ability to buy things even if they do not have the cash to pay it off. That makes it difficult to live within one’s means.

However, there are instances wherein people are forced to use their credit cards. If you find yourself in this situation, there are techniques to use them without putting yourself in debt for it. Here are some important guidelines when using your card.

If you will keep a credit card, make sure you impose rules as to when you can use it. If you want to keep a card for emergencies, define what constitutes an emergency. It is best not to use card for your basic purchases. Make sure the definition is clear and you can stick to it.

Secondly, you need to go back to the fine prints of your credit card agreement. This is the piece of paper you signed when you applied for your card. You need to find out the grace period of your account. This is the time between the end date of your billing cycle and the due date of your billing statement. If you pay your purchase in full within this period, you will not be given an interest. That is the best way for you to keep your payments small. If you cannot find the signed agreement, call your credit card company to inquire.

After every purchase, you will always be required to sign a slip of paper with the amount of your purchase. Make sure that you encircle the amount to guarantee that it is the right amount that should be charged to you. Then you can sign the paper. Keep your copy for reference purposes and be ready with that amount when the billing statement comes in.

If you want to use it for expensive purchases, try not to go over 30% of your credit card limit. You should also create a payment plan to help keep track and make sure that the contributions are made on time.

These are only a few of the things that you should do so you can continue using your credit card without it leading to any debt. In truth, using these cards does not have to lead to destruction - at least if you use them correctly.

Practicing smart spending habits will guarantee that you will not get into any financial troubles. Even if you are paying in cash, there is still the possibility of you putting yourself in debt. Credit cards are not the sole culprit in debt. You need to develop the right habits that displays the right financial management skills. Know how much you can afford to spend every month and stick to it. You should also build up your reserve fund so that you will not miss any payment in case your credit card payments end up being compromised.

Tips To Keep Your Finances On Track And Be Debt Free

Keeping your finances on track is an important part of living a debt free life. Regardless if you had been able to keep up with debt payments or you are drowning in it already, you have to understand that this is one monitoring that you have to fulfill. It allows you to guard your expenses and to make sure that you are prepared for any eventuality that can compromise your current financial standing.

Here are some tips to help you accomplish this task.

First of all, the key to put your finances on track is to know your personal finances. And if you are in debt, you need to know how much you owe. This is very important. If you want to fix something, you need to know what you need to fix, how much damage has to be fixed and your capabilities of fixing it.

You should also get into the habit of checking your credit score as often as you can. It allows you to monitor your debts and see if you became a victim of identity theft or any unauthorized financial transactions made under your name. There is a way to get this for free. The three major credit bureaus are mandated by the government to provide you with a free copy of your credit report every year. You can go to the Annual Credit Report website and you can download one copy from any of the bureaus. Do this on three separate occasions every year and you should be able to monitor your credit without spending for anything.

You also have to monitor your accounts strictly. Make sure all your email address and contact information are accurate so that any missed payments that you may have overlooked will be reported to you. Know when your due dates are and make sure that you pay them on time. In case the credit card company fails to send you your statement, inform them before your due date is up.

Saving is also a good idea. While it will not directly help you monitor to keep your finances on track, it will definitely serve you once your current income is compromised. It allows you to stay true to your usual payments even when there are unexpected expenses cropping up.

Budgeting is one tool that can really help you accomplish all of these feats. It is a great monitoring tool that will allow you to maintain a firm grasp on your financial activities. Your budget will effectively help you manage your finances and control your spending so you are able to prioritize the important expenses.

Being debt free and making the commitment to maintain it means you have to lower your lifestyle. It is not even enough that you lower it up to what your finances can afford. You have to lower it further than that so that you have the extra cash to add to your emergency fund and save up for your retirement.

If you find one that is worthy, get a mentor. They can be your spouse, partner, parent or a close friend. Find someone whom you want to emulate when it comes to financial management. Get their advice and let them know that you want to enlist their aid with your financial problems. Having someone to talk to will really help you overcome your difficulties.