Debt Management

What is debt management?

 

As a modern consumer, you need credit. When you were growing up, you may have heard your parents or grandparents say, “If you can’t pay for it with cash, then you can’t afford to buy it.” That may have been sound advice 40 or even 20 years ago, but such attitudes about credit are outdated and unrealistic for most adults working and living in modern times. The average cost of a car, house, or college education has skyrocketed when compared to the average household income, so typical consumers need to borrow money if they want to buy a home, drive a car, or educate themselves or their children. Throw in a handful of charge accounts and credit cards, and it is no wonder that the average consumer is carrying more debt than ever before. With greater credit needs comes a greater need for debt management.

Good debt management ensures that you will have credit when you need it, make wise borrowing decisions, and avoid disaster if you become overextended. You can ensure that loans are available when you need them by establishing and maintaining a positive credit record. You can benefit from many specialized loan programs if you are aware of your borrowing options. You can save money by taking steps to reduce the cost of debt and save yourself from disaster if you know what to do when you can no longer meet your financial obligations.

Visit https://www.inthedollarweworship.com for a Biblical reference to this topic.

By Kingdom Financial Ministries

A financial professional can apply his or her skills to your specific needs. Just as important, you have someone who can answer questions about things that you may find confusing or anxiety-provoking. When the financial markets go through one of their periodic downturns, having someone you can turn to may help you make sense of it all. Donald A. Galade is a self-starting motivated individual who believes the Bible is the inspired Word of God. Don is President of Galade Financial Services, Inc. a full-service insurance brokerage firm, and CEO of GFS Financial Advisors, LLC. which is a registered investment advisory (RIA) firm located in Drums, PA. Don is a home-schooling dad who blends his passion for others and his professional skills to help clients define and meet their financial goals. He has worked in the Financial Services industry since 1987 and has been a Financial Advisor since 2004 Don routinely attends intense training and continuing education sessions that deal exclusively with the financial needs of those who are near or currently in retirement and is well versed in the latest strategies designed to meet those needs. He is a former Vice President of the Hazleton, PA chapter of the Pennsylvanians for Human Life, and is also a former member of the Kiwanis, Unico, and Rotary clubs in North-East PA.