St. Louis Park, Minnesota (PRWEB) February 14, 2014
Any Minnesota resident can take advantage of Consumer Credit of Minnesota’s services by visiting the Consumer Credit of Minnesota website, or by calling 952-544-6800.
Here are some tips for financial health and peace of mind from Consumer Credit of Minnesota’s certified credit counselor, Kent Johnson:
1. Get spending under control by tracking expenses for a month. Put all receipts in an envelope and total them at the end of 30 days.
2. Use a combo of checking, savings, and debit cards to separate bills, savings, and spending.
3. Borrow only for those items or assets that hold or appreciate in value or that last longer than the length of a loan.
4. Try to limit monthly debt payments to less than 40% of your monthly net income.
5. Make sure your car payment doesn’t exceed 15-20% of your net income.
6. Secure two types of credit: installment loans, and rotating credit to satisfy future lenders
7. Only take on a second mortgage to increase the value of your home.
8. Never borrow from payday loan or payday advance companies. They generally create more problems than they solve.
9. Set up an automatic deduction from your checking account to force yourself to save.
10. If you need help or are feeling stressed about money and debt, call one of our expert credit counselors for advice.
“Almost 70% of those in financial trouble are able to resolve their money troubles. We’re here to help. It’s great to meet with people, do a credit counseling session, and to see them get back on track,” says Kent Johnson, Co-Director at Consumer Credit of Minnesota.
Consumer Credit of Minnesota has been counseling, advising and structuring debt consolidation and repayment programs for Minnesotans for several years. Our debt consolidation and repayment programs, and educational efforts touch thousands of families and individuals. Our repayment programs return millions of dollars per year to unsecured creditors - helping the people we serve regain self-sufficiency while avoiding bankruptcy.
The Consumer Credit of Minnesota team and credit counseling experts are available for speaking engagements or interviews. To schedule a media appearance, please contact RayeAnn Hoffman at 952-544-6800 or rayeann(at)ccofminnesota(dot)com.
Visit us at http://www.ccofminnesota.com or on Twitter @ccofmn.
SOURCE: Consumer Credit of Minnesota
For further information about Consumer Credit of Minnesota:
Telephone 952-201-4350 or email kentj(at)ccofminnesota(dot)com
Telephone 952-544-6800 or email rayeann(at)ccofminnesota(dot)com