Posts Tagged With 'Debt Management'

Sticking to cash may help some consumers dealing with debt management issues

Posted by Anthony Jackson at Mar 26, 2010 | No Comments »

Debit and credit cards may provide a certain amount of convenience when making purchases, but it’s that very ease that may end up putting some people in need of debt relief.

In a recent column for ABC News, David McPherson noted that he has taken a different approach when it comes to making smaller purchases, one that may help consumers trying to concentrate on savings. Rather than pull out a card for everyday purchases, McPherson has suggested the use of cash only.

“My belief is that relying on cash in the wallet rather than plastic instills greater budget discipline and reduces impulse purchases,” McPherson said. “By relying only on the 10s, 20s and maybe even 50s in your wallet, you buy only what you really need rather than what you think you need or want.”

When it comes to credit cards, it may be easy to see why consumers would avoid the use of plastic and opt for cash instead. Read more…

Tags: Debt Debt Management

The credit card debt management

Posted by admin at Jan 03, 2010 | No Comments »

Though a lot of folks are snug with going forward with credit card debt management all by themselves, not everyone is. There are folks who don’t extremely want to tread into the territory of financial issues (mastercard debt management included). Such people usually prefer visiting debt help firms for recommendation on credit card debt management or for getting the credit card debt management done through them. However, even before we speak further on this subject of credit card debt management, it’s imperative to understand that any external person or agency will only do a correct credit card debt management for you if you strictly follow the recommendation/guidelines that they formulate as half of credit card debt management. The

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Tags: Card Debt Card Debt Management Debt Management Management

Consumers unlikely to shake debt management problems soon

Posted by admin at Nov 26, 2009 | No Comments »

Shoppers struggling with debt management issues have long faced the extra burden of dealing with various fees and high interest rates.

This could ease somewhat in the coming months as federal credit card reforms begin to take effect, placing new limits on the late fees and penalty interest rates that companies can charge. The pending reforms have in many cases led credit card companies to hike rates and take other measures to try to boost profits that are expected to be affected by the new reforms.

With that in mind, a recent report by CNNMoney.com notes that consumers could find themselves saddled with new debit card fees in the future, and that in 2010, debit card transactions are expected to rise to $1.64 trillion in purchases.

The report adds that lenders are also eyeing loyalty and rewards programs for debit card users, which have the potential to generate annual fees and other potential revenue. Read more…

Tags: Debt Management Management

Consumers not giving up debt management for the holidays

Posted by admin at Oct 28, 2009 | No Comments »

Debt management remains on the mind of many consumers judging from recent surveys that suggest the coming holiday shopping season will be a weak one.

A new survey from Consumer Reports found that 65 percent of shoppers say the economy will weigh on their purchasing decisions this year, and that people are likely to cut back in areas like gifts and entertaining.

“This year, it all comes down to value and getting the best bang for your shopping dollar,” said Tod Marks of Consumer Reports, adding that “retailers are getting more sophisticated about targeting their promotions to their best customers.”

In one sign that retailers are nervous about the shopping season, many of them aren’t waiting until late November to begin offering holiday deals. Recent media reports have also noted that a trend in the retail industry this year is likely to focus on tradition and nostalgia, since these tend to be more warmly received by consumers during tough economic times. Read more…

Tags: Debt Management Management

Elderly more likely to face debt management problems

Posted by admin at Oct 18, 2009 | No Comments »

A recent report finds that among all the people having debt management problems in the current economy, senior citizens are increasingly likely to owe money to creditors.

According to the Employee Benefit Research Institute, the percentage of American families headed by someone over the age of 55 with various levels of debt increased to 63 percent in 2007, up from about 60 percent in 2004. In 1992 that figure was closer to 53 percent, indicating an upward progression in debt levels for older Americans.

The report notes that this is problematic for many Americans because they are now more likely to be facing debt just as they are getting ready for their retirement years. The recession has also seen considerable damage inflicted on 401(k) accounts and other savings, making retirement a more uncertain prospect for millions of people. Read more…

Tags: Debt Management Debt Management Problems Management Problems Problems

Government offers poor example for debt management

Posted by admin at Oct 06, 2009 | No Comments »

Consumers who are worried about debt management would do well not to take their cues from the federal government.

That’s because the Congressional Budget Office has announced that the federal budget deficit grew by nearly $1 trillion over the past fiscal year, to a new high of $1.4 trillion. The new figures are due to a combination of falling revenues, which declined by 17 percent, and higher spending, which increased by 18 percent.

The federal deficit now stands at about 25 percent of the gross domestic product, which is the highest level recorded since the end of World War II.

The latest figures present a sharp contrast with a nationwide trend of consumers paying down their debts by substantial margins, with the latest government report showing that credit card debt plunged at a 13.1 percent annual rate in August. Read more…

Tags: Debt Management Management

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