The decrease in debt means more consumers are able to invest in their personal wealth.
Philadelphia, PA (PRWEB) June 12, 2013
National Debt Relief, the leading provider of debt settlement services is happy with the recent news from MarketWatch.com.
According to the article published on MarketWatch.com last May 14, 2013, “U.S. households whittle down debt again,” consumers are getting better at their debts. They have successfully reduced their mortgage balances and are starting to rely less on credit cards for purchases. The article cited statistics and figures released by the New York Federal Reserve. This time, the total debt level is now at the lowest level - right about the same level as the pre-recession period in 2006.
The article concludes that the decrease in debt means more consumers are able to invest in their personal wealth. In effect that will “drive U.S. growth higher” and will bode well for the economy. The decrease in the overall household debt is only a mere one percent but it is still a significant $110 billion amount.
BBB (Better Business Bureau) accredited company, National Debt Relief is quick to pitch in on this good news by publishing an article that will help boost this debt decrease even further. In the article “Your Answer Just Might Be... A Budget,” the debt relief company encouraged their readers to put their spending on a budget.
The report on less usage of credit cards indicates that consumers are starting to make smarter choices about their finances. Cards may have their benefits but the debt relief company cannot remove the fact that they have all the potential to put the average consumers in debt. With this mindset, people should be more willing to incorporate a budget in their daily transactions.
Through the article, National Debt Relief describes a budget as the only way that someone “can know where they stand financially.” It allows consumers to know where the money is going and to control it if the resources are limited.
The debt relief company encourages all of their clients and readers to make a budget for themselves. They claim that it is not a rocket science. It all begins by monitoring all the expenses in a month to be able to come up with a realistic budget. As the first month is up, consumers are encouraged to review all their expenses and to see if they are putting their money in the right places. The article suggests what places and expenses can be cut off. It also advises consumers to look at their budget as a game plan. Making sure that it is realistic is key to determine how the household can stick to it.
The article also suggests various methods and tools that consumers can use to make budgeting easier. It can be a tedious task to get used to at first. A simple spreadsheet is usually enough. Some consumers download mobile applications and programs that will help them track their financial transactions.
Of course, the debt relief company knows that while budgeting can help, it may not be enough. They suggest that consumers still get debt help through the many debt solutions available like debt consolidation loan, credit counseling or debt settlement.
To read the rest of the article, “Your Answer Just Might Be... A Budget” visit the National Debt Relief website.