• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar

National Debt Relief

National Debt Relief - A+ BBB Accredited Business - Get Relief From Credit Card Debt, Medical Bills And Unsecured Loans

Talk to a debt counselor toll free:

800-300-9550

Get Relief From Credit Card Debt

Medical Bills and Unsecured Loans

  • Services
    • Debt Settlement
    • Debt Relief Benefits
    • Qualifications
    • Is Debt Settlement Right For Me?
    • Debt Help By State
    • Debt Relief FAQs
      • How Debt Relief Affects Your Credit Score
    • Free Budget Planner Worksheets
    • Free Debt Calculator
  • Options
    • Debt Relief
    • Bankruptcy
    • Credit Card Debt Relief
    • Debt Consolidation
  • About Us
    • Who Is National Debt Relief?
    • Accreditations
    • Proven Results – Debt Settlement Letters
  • Contact Us
    • Apply Now
    • Contact Us
  • Client Login
  • Careers
  • Blog
HomeBlog Debt ReliefHow To Use Financial Management As A Debt Solution
Video Transcript

Free Debt Relief Quote

  • National Debt Relief, LLC BBB Business Review
  • McAfee SECURE sites help keep you safe from identity theft, credit card fraud, spyware, spam, viruses and online scams

How To Use Financial Management As A Debt Solution

July 27, 2013 by National Debt Relief

couple worrying about financesDebt is proof that you had been messing up your finances. If you really want to conquer this problem, you may want to pay attention to how your money is moving in your life.

Financial management is a key aspect in any debt relief program. Regardless of how small or grave your credit problem is, you need to improve your finances by making sure you are managing it properly. This is not only helps you with your payments, it will eventually give you the ability to keep yourself from landing in the same debt situation again.

How can your debts benefit from better money management?

There are many ways that your debt problem can be helped by proper financial management. Anything that you control and your manage wisely will always be organized and can easily be kept from any harm. And even if you encounter an external factor that can negatively affect your finances, you can easily ride it out because you know your money very well. You can devise a way to get out of a tight spot simply because you know how much you have and your capabilities to recover. If your finances cannot deal with the problem, you will know it immediately and you can act on it urgently.

Here are various scenarios on how money management can assist you while you get out of debt.

  • You keep yourself from incurring more debt. This can be done through a budget plan – which is a must in financial management. You can view how much money is coming in and how much of it is going out. That will help you define just how much you should be spending on various household costs.

  • You make sure your debts are always funded. This, again, can be achieved through a budget plan. You can set up your budget in such a way that when you get your monthly income, you can shave off the debt payment fund right from the start. That way you are assured of your contribution for that month. If you keep to your payments, you will never have to worry about late penalties.

  • You know if you need to earn more. Proper financial management requires you to always have a general idea of where your finances currently stand. That means you will know if you are lacking in anything. It will be easy for you to come up with a plan to earn more to compensate for any deficit in your budget and payments.

When you are in debt, that signifies that you need to make a conscious effort to put your finances in order. To do that, you need to learn how to manage it properly. At the very least, it will help you speed up payments for your existing debt.

Personal finance concepts that help you stay debt free

All of us need to learn how to manage our money not just properly, but also wisely. You should always consider the fact that the uncertainty of our future puts us at a disadvantage – but only if we are not prepared for it. Emergency situations can sometimes lead to debt but not if you prepared for it. This is where personal finance can play a role. Regardless of what milestone you are facing now, you need to consider your finances when making life decisions.

There are actually three important concepts that will help you stay debt free. The main objective is not just to live within your means, but to live below your means.

Budgeting. We have mentioned earlier how a budget plan can help you pay off your debts. It allows you to ensure that your debt payments are intact and will always be funded. Well that benefit is not just for getting out of debt but also for staying out of it. A budget plan will help you maximize your income so that you can live comfortably while meeting all your financial obligations. Not only that, budgeting teaches you positive financial habits. For instance, it allows you to shift funds around so that you can afford to buy the things that you normally would put yourself in debt for.

Smart spending. Another important concept that you need to learn is smart spending. This is not just about saying no to purchases when you cannot afford it. This is more targeted towards the things that you should not purchase even when you can afford it. That is the real challenge. You budget will tell you how much you can spend for every expense category but proper financial management will tell you if it is wise to buy it or not.

Saving. There is much to gain when you have the patience to save up for something. However, did you know that your savings can help you achieve not just debt freedom but financial security as well? When you have money put aside, you live with less stress because you know that you can face any obstacle and have the funds to finance it. All the uncertainties of your future does not have to bother you because you know that you have a back up plan to survive – which is your debt.

In the end, it all boils down to planning. If you notice, all three concepts involve analysis and planning. This is why you may want to start by setting up a financial plan for yourself. If you are uncertain as to where you can start practicing your money management efforts, start with a plan. If you do not know how, you can hire a financial planner to help you out. Get one plan from a Certified Financial Planner. Start your search from the website of the National Association of Personal Financial Advisors or NAPFA. You can also do a search online and download a template for financial planning.

Do you qualify for debt consolidation?

National Debt Relief

National Debt Relief

National Debt Relief is one of the largest and best-rated debt settlement companies in the country. In addition to providing excellent, 5-star services to our clients, we also focus on educating consumers across America on how to best manage their money. Our posts cover topics around personal finance, saving tips, and much more. We’ve served thousands of clients, settled over $1 billion in consumer debt, and our services have been featured on sites like NerdWallet, Mashable, HuffPost, and Glamour.

Follow National Debt Relief: Facebook Twitter Instagram Linkedin

Filed Under: Debt Relief, Personal Finance Tagged With: budgeting, debt relief, financial management, personal finance, saving, smart spending

Primary Sidebar

Trusted By Our Clients

Excellent

Rated Five Stars Trustpilot star rating Trustpilot star rating Trustpilot star rating Trustpilot star rating Trustpilot star rating

based on 24,642 REVIEWS

"Best decision I've ever made!"

They really care about "you" and making your life easier. They answer all of your questions and are very detailed.

Trustpilot star rating Trustpilot star rating Trustpilot star rating Trustpilot star rating Trustpilot star rating

Kolbie P.

"Saved me from drowning in the debt."

I was up to my eyeballs in debt and National Debt Relief saved me from drowning in the debt.

Trustpilot star rating Trustpilot star rating Trustpilot star rating Trustpilot star rating Trustpilot star rating

Joanna W.
Canal Winchester, OH

"Helped me settle my debts that were choking me."

National Debt Relief helped me settle my debts that were choking me.

Trustpilot star rating Trustpilot star rating Trustpilot star rating Trustpilot star rating Trustpilot star rating

Bobbie A.
Charlotte, MI

"Taken a big weight off of my shoulders."

National Debt Relief has taken a big weight off of my shoulders.

Trustpilot star rating Trustpilot star rating Trustpilot star rating Trustpilot star rating Trustpilot star rating

Richard D.
Piffard, NY

"Stopped all collection calls."

National Debt Relief stopped all collection calls and are working with my creditors to settle my debts.

Trustpilot star rating Trustpilot star rating Trustpilot star rating Trustpilot star rating Trustpilot star rating

Patricia G.
Oran, MO

"Now I can see a light at the end of the tunnel finally."

I was in a tough spot, financially and emotionally. Now I can see a light at the end of the tunnel finally.

Trustpilot star rating Trustpilot star rating Trustpilot star rating Trustpilot star rating Trustpilot star rating

Susan W.
Valparaiso, IN

"I'm sleeping better knowing they are helping me to eliminate my debt."

I'm sleeping better knowing National Debt Relief is helping me to eliminate my debt.

Trustpilot star rating Trustpilot star rating Trustpilot star rating Trustpilot star rating Trustpilot star rating

Jodi W.
Springfield, OH
Trust Pilot Reviews

Free Debt Relief Quote

By submitting, you agree that the phone number you are providing may be used to contact you by National Debt Relief (including autodialed and prerecorded calls or text/SMS messages). Msg. and data rates apply. You are not required to opt in as a condition of purchase.

The sooner you call,
the sooner we can help:

800-300-9550

Search NDR Blog

Recent Posts

  • Free Holiday Shopping Budget Template To Keep You Out Of Debt
  • How To Host Thanksgiving Dinner On A Budget
  • Tips For Finding Good Last Minute Travel Deals
  • How To Spend Less Money For The Holidays
  • Take Note And Save Money While Holiday Gift Shopping
  • How To Scare Up Some Extra Cash To Pay Down Your Debt [Slideshare]
  • 10 Ways To Rock The Gratitude Challenge This Thanksgiving
  • How To Write The Perfect Salary Negotiation Email
  • When Should You Start Saving Money For Your Kids
  • The Best Budgeting App For Your Family

 

FAQs about debt relief

AFCC disclosure

National Debt Relief, LLC BBB Business Review AFCC Top Ten Reviews Gold Top Consumer Reviews Consumers Advocate Trust Pilot
  • About Us
  • Contact Us
  • Free Debt Calculator
  • Privacy Policy
  • Terms Of Site
  • Disclaimer
  • Sitemap

© 2019, National Debt Relief, All Rights Reserved.