Freedom Debt Relief Has A Quick Guide to Stable Finances

Everyone wants to avoid financial stress, especially debt, but it’s so easy for things to get out of control. Between avoiding impulsive purchases, keeping up with bills, and covering surprise expenses, there’s a minefield of potential obstacles to staying on track.

But it needn’t be so hard. The key is to leverage the power of your daily and monthly habits. Over time, small adjustments to your daily spending habits will pay huge dividends. More than preventing yourself from going into debt, you’ll be able to leverage the power of savings.

Freedom Debt Relief deals with plenty of consumers and has seen what happens when things go wrong. To help you make sure things go right, we’ve put together this quick guide.

Budget Differently

You’ve been told to make a budget before, but have you been told how? The problem with most budgets is that they assume that you need to fit your income to your budget.

While, of course, you don’t want to spend more than you earn, you should make your budget based on your whole life, not just your income. Lay out your life goals. Life goals include long-term goals, like retirement savings and short-term goals, like your desired lifestyle. If you want to take a two-week vacation each year, budget for that too. 


By focusing on what you want first, you can decide whether you need to make more money or where you can cut back to make those goals happen. Above all, a budget should set out your priorities so you can see what’s worth spending money on and what you can cut out.

Be Responsible with Credit Cards

Some savings experts will tell you to avoid credit cards altogether. But credit cards are a useful tool. You just have to use them responsibly. Only use your credit cards to pay for things you can afford. 

There are few things worse for your long-term financial health than partial, late, or unpaid credit card payments.Partial payments result in a snowball of interest, while late and unpaid payments ruin your credit score. 

Research credit card offers extensively before you choose to use one. All the information about fees and costs is there. You might have to do some digging to find it, but there’s no excuse for being surprised by a credit card fee.

Change your Shopping Habits

Whether it’s transportation, entertainment or living expenses, you can find ways to save on almost everything. Shop for clothes at second-hand stores when possible. Use promotional offers for outings to movie theaters or restaurants. 

Enroll in loyalty programs to save on groceries and gas. Wait for desired items to go on sale, and only buy certain food when it’s in season.

It may seem like a pain, but once you get in the habit of finding savings on everyday items, it will become second nature. The best part is that all those little savings add up to allow you to save for retirement and plan fun vacations.

Create a System for Bill Payment

Kevin Gallegos, of Freedom Debt Relief, recommends setting up, “a system that works for you and that you’ll use consistently.” Seems pretty simple, right? Yet, so often consumers must pay an overdraft or late fee. Avoiding those sorts of easy-to-avoid expenses is another habit that pays dividends over time.

Find out what works for you. Gallegos says that it could be “automatic online payments, a spreadsheet, a cell phone reminder, or a list on the refrigerator.” All that matters is that it gets you to pay your bills and cash your checks on time.

Map out Long-Term Goals and Review Regularly

“Financial success” is different for everyone. That’s why it’s so important to dedicate some time to figuring out what you want to accomplish and what that’s going to cost. 

No one would jump in a car with only a vague idea of the route to their desired destination and expect to arrive without getting lost. So why would anyone expect an easy road to their financial goals without extensive planning?

Create milestones for your goals so you can figure out when and how much you need to save. Then, review your finances regularly—ideally once a month—to make sure you’re on the right path.

By reviewing your finances, you serve yourself in two ways. First, you’ll be in tune to your spending habits so you can adjust accordingly to stay on track. And second, you can keep track of any discrepancies on your credit card and bank statements.

Most credit card companies have a limitation on when you can dispute a claim. So, even if you have a legitimate claim, you might not be able to work it out if you make the claim too late.

Pay Yourself First

Monthly savings cannot be viewed as anything less than mandatory. Gallegos of Freedom Debt Relief recommends considering additions to your savings as a requirement, rather than a chore. 

Treat it like a required payment to your future retired self who will need financial support. Don’t overextend yourself by paying too much, but find some room in your budget even if it means sacrificing some fun money.

“Know what you have to spend—and spend less”

This last tip comes directly from the Vice President of Freedom Debt Relief. He says that learning to live below your means, “taking responsibility and choosing where your money goes,” could help you immeasurably in avoiding financial trouble.

To use this tip, reevaluate your budget completely. Search for expenses that you can reduce or eliminate and stick to your plan. Err on the side of cutting too much—you can always add subscriptions or memberships that you end up missing. Chances are though, you won’t even notice they’re gone.

Achieving your financial goals is most easily achieved by making small changes to your daily routine. Consistently enact these changes to your spending and savings habits, and you’ll be amazed at the difference small things can make over time.

Injured Doesn’t Have to Mean Poor: How to Effectively Save Cash on Medical Expenses

Medical bills top the list of the things that most people dread. Even with health insurance, they always end up spending more than they have planned for and it is utterly frustrating. 

Most individuals can affirm that huge medical expenses are the fastest routes to bankruptcy. Making some changes can transform such situations. Do you want to spend less and save more? Here are a few steps that can be quite helpful when carefully considered.

Weigh All Your Options

You have to do some serious bargaining if you want to land on the best deal. For instance, whenever you want to get a test or procedure done, ensure that you compare the prices of different medical practitioners. 

This allows you to settle for someone who is not unreasonably expensive. In addition to this, you can ask if they can give you a discount. If you are in an adverse financial position, talk to the person who is in charge to see if they can allow you to pay less. This way, you don't have to part with everything in your pockets.

Ensure That Bills are Processed Accurately

Sometimes, when your bills are not processed correctly, you end up spending way more than you should. It doesn't hurt to be keen. Always take some time to review your bills and ensure that no mistakes have been made. 

In case of any errors, have the bill reprocessed and you might be able to save some dollars. Confirm that you need medical care before paying for it. It's okay to seek medical assistance when you are unwell, but it is also wise to confirm that you need the help before paying the bills. 

You might be diagnosed with a fatal disease one day only to realize that it was a mistake the next day. Seek the opinion of another expert and have all the tests redone to avoid paying for the treatment of a nonexistent disease.

Pest Control

Another effective way of saving on medical expenses is controlling pests in your home. Pests are one of the main reasons why we fall sick and controlling them is a safe way to minimize the amount of money that you spend on medical bills. 

For instance, pest control in Utah County, or in other areas, always helps control infestations and other pest problems. Ensure that you use the right household pesticides and when using them, be cautious to enhance safety.

Purchase Generic Prescriptions

It is advisable to buy generic medicines. According to Food and Drug administration, they are safe, helpful and cheaper. You can also go for over-the-counter prescriptions since they are less expensive than their brand-name equivalents and still as useful. After all, your goal is to get the right treatment even after spending less.

Always Have Current Health Insurance

In as much as you might wish to avoid paying for your health insurance, it is very critical. People have found themselves in devastating situations due to lack of medical insurance. 

Seek some protection so that you'll be safe in case something happens; like an accident that could wipe out all your credit cards. Again, this is an appropriate way of saving for your medical expenses.

Talk to Your Doctor

Doctors and other medical experts are willing to help you get the best. For instance, if you are faced with an expensive test or treatment that your insurance does not cover, ask them if it is needed. If it is necessary, can they charge you less? This might help you save some money.

Medical expenses don't have to be the reason why you remain poor or spend more than you even make. People make plans to make things better; apply strategies that will help you spend less on your medical treatment.

Understanding Investments, Expenses & Macroeconomic Variables

Whether you’re a first-time investor, or a seasoned professional, it’s important to understand the correlation between market factors. Various macroeconomic elements play a big part in determining which way financial assets move. 

Foremost among them are inflation rates, unemployment rates, and interest rates. Of course, there are myriad factors that need to be considered when making investments in financial assets. 

Geopolitical uncertainty – political tension, the threat of war, civil unrest, Brexit and other factors abound.

Understanding Investments

The relationship between financial markets and interest rates is an interesting one. Wall Street companies are heavily dependent on the prevailing interest rate for several reasons. 

At a basic level, higher interest rates – or rising interest rates – are synonymous with higher costs of borrowed capital. In other words, listed companies will be paying more for borrowed money when interest rates rise. This eats into their profitability by increasing costs. One way for listed companies to counter rising interest rates is to pass these costs on to consumers in the form of higher prices. 

This in turn leads to inflationary pressures. If real wages are not increasing at the same pace as rising prices, people are left with decreased purchasing power of their money.

From Macro to Micro: Interest Rates Matter

Therefore, broadly speaking the following relationship exists between equities markets and interest rates: rising interest rates tend to have a negative impact on the price of equities. The converse also holds true. 

When interest rates start falling, the cost of borrowed capital decreases, meaning that companies enjoy increased profitability at constant prices. This boosts stock prices on the New York Stock Exchange, the NASDAQ, The Dow Jones Industrial Average, the S&P 500 etc. When we move from Wall Street to Main Street, it’s important to understand how interest rates affect personal loans. 

On a personal level, rising interest rates are synonymous with higher interest repayment amounts on personal loans. Therefore it is so important for consumers to act decisively when interest rates are low, to avoid the higher rates and higher payments.

The average US household is strapped for cash. In fact, a report released in 2015 indicates that 63% of Americans cannot afford to cover a $500 - $1,000 emergency. This means that an everyday emergency such as a blowout of your tire, a trip to the ER, or a burst water pipe could put you out of pocket. 

This is precisely why it is important to have an emergency stash of cash available. A study commissioned by a leading financial and credit provider found that just 37% of US households have enough money to cover emergencies, with funds of $500 – $1000. 

The remaining 67% of US households would have to borrow against their mortgages, from friends and family, take from savings, or dip into retirement accounts for emergencies. Of that 67%, some 23% of US households would put the expenses on their credit cards.

Poor Savings Necessitate Capital Cushions for Eventualities

In 2014, the out-of-pocket costs for ER visits was $1,233, while the average cost of car repairs in the US was anywhere between $1,747 and $3,324 per visit. Much the same is true for emergency pet care during an animal’s life span. 

These expenses are all but guaranteed at some point or another. Savings are needed to cover these exorbitant costs, but if they don’t exist, alternative forms of financing are required to make up the shortfall.

Many inventive solutions are available to individuals and households in the form of short-term financing. These loans can be repaid within a year, and they are effectively bridging finance to get you from point A to point B when an emergency arises. 

Low-cost loan options such as credit lenders that provide emergency financing are increasingly popular in the US market, with tailor-made repayment schedules at affordable terms.

American households are notoriously poor savers, and this does not bode well for a downturn in economic conditions. According to Pew Charitable Trusts, the average ‘expense shock’ for families is $2,000 per year. Of course, this number depends wholly on the family’s income, and as you move up the income ladder that number rises accordingly. 

Families earning between $50,000 per year and $85,000 per year typically encounter a financial shock that is valued at 13 days’ of income. A $10,000 emergency fund is reserved for people who earn substantially more than $85,000 per annum.

5 Mistakes To Avoid When Hiring A Civil Consultant

There are several types of engineers when it comes to construction, depending on the type of work. Geotechnical engineers are hired to investigate types of soil and rock in order to decide on the most suitable foundation for a structure. 

Then there are Structural engineers who decide on structural systems that will carry the construction, such as columns or beams, as well as on the material to be employed (steel, wood, masonry, concrete, etc.) And finally, there are Civil engineers who work on maintenance, design, and building.

Whether you’re considering doing some remodeling on your house or you’re a construction company looking for consultants, there are several factors to be considered before hiring the right firm for you and here are 5 most common mistakes to be avoided when doing so.

1. Recommendations

Poke around a little bit, do not just hire the first company that comes your way. Google companies and check out forums if possible to see what other customers are saying. Also, ask around among friends and acquaintances. 

Maybe they hired a certain company which did something for them and were satisfied or they know someone in the business. Word of mouth is still the best ad and if you hear from someone they had some great work done by a company, then get in touch with them and see whether they would be suitable for the project you have in mind.

2. Ask All The Right Questions

In order to ensure that you get the most out of it, it would be a good idea to note down all questions related to the project at hand before hiring a civil consultant firm. This way you’ll be better prepared and choose your candidate more wisely. Some of the most typical questions to be asked are:

• Can I be involved in the development process and will my opinion and suggestions be taken into account?
• What sets you apart from other companies?
• Are the contract terms negotiable?
• Is there any way the construction cost may be minimized?
• Is quality control check system part of your delivery?

3. Meeting Your Needs

Not every company can meet the needs of their clients. Therefore, all the pros and cons should be carefully weighed in order to choose the right one for you. Money is another major factor to be considered as well. 

You shouldn’t merely go for the cheapest bid because it may turn out that that company doesn’t get the job done the way you want it. For example, Rise Consulting Civil and Structural Services experts work closely with their clients. Their maxim is: “Working closely with architects, builders, and other project consultants together with keeping a clear communication with our client is the key factor to our successful projects.” So, try to find a company that is willing to commit and give a 110%.

4. Forgetting to Define the Schedule Payments

It is extremely important to define the conditions and time of payment right at the start before any actual work begins. The conditions should take into account both parties’ interest to avoid any kind of delay. 

If the payment conditions favor the contractor, the customer might delay. In contrast, if it is in favor of the customer, the contractor might be the one postponing the work because of insufficient funds. The two parties should meet somewhere in the middle so that the contractor receives some 60-70% up front, and the rest when the work is finished.

5. The Contract

It’s nice to have trust and take people’s word for it, but one can never be too sure in matters such as these. It is better to have it all written down so as to avoid any possible or potential unpleasantries. 

The contract is a binding legal document that protects both parties. And once the contract has been drawn up, don’t make that stupid mistake of only skimming through it. Most people think it is superfluous to say this, but it’s not: read the contract thoroughly before signing it and make sure all the stipulations you requested are there.

These were some of the most important things that should help in your decision process. Be sure to choose what is best for you. And remember: don’t just go for the cheapest offer or the one which promises the fastest delivery. 

Pick the one that promises efficiency, quality, and cooperation and you can’t go wrong. Happy building!