Preventative Help With Debt

Although the bulk of people seeking debt help are those already in debt trouble, we think it would be helpful to help those people who are not yet in trouble, but could be. Specifically, recent college graduates and even current students. For these young people, we’d like to offer the following tips for preventative debt help.

Consolidate student loans. If all your student loans are from the same lender, you’ll have to consolidate with that lender. If you have multiple lenders, shop around for the best consolidation deal.

Pay your bills on time. Even if you don’t have much credit history to your name, it’s smart to keep it as clean as possible.

Think Hard about your future. Oftentimes, recent college graduates who are unsure about their career plans decide just to go to graduate school, hoping it’ll best guide them to a career later on. However, that can be a very expensive way to test out a career.

Smart vs. Stupid. Debt, that is. Smart debt would be your student loans, unless you’re flunking out. Stupid debt would be any debt beyond basic living expenses: Every dollar you borrow to eat out instead of feeding yourself, to buy the newest video game systems or cell phones, to go out drinking, and to have someone paint your nails is stupid debt.

Debt Help Tip: Smart management of your money is an excellent way to keep from getting into a debt quagmire later on down the road.

Thanks for reading!

Mike Welton
Financial Advisor-MyDebtWorkshop.com