Improve Your Finances by Taking a Step-by-Step Approach

booksPhoto courtesy of Bravo_Zulu_

As you are making your way along the path to financial freedom in 2013, Veitengruber Law has solutions to any complicated financial situation that you may be dealing with whether you are having trouble paying your mortgage, are dealing with steep credit card debt, or have a plethora of overdue utility bills. We can also help you collect on a debt that is owed to you or your business.

On the other hand, if your financial situation is relatively stable, in all probability you still have financial goals that you would like to meet. The advice we give our clients who are in a similar position is to make small changes to your everyday routine that can really make a significant difference by the end of the year. Put as many of the following tasks into action as possible, and be persistent about them. You won’t see a big difference right away, but if you persevere, a successful financial outlook is definitely on your horizon.

  1. Eliminate. Take a good inventory of everything that is currently cluttering up your home, garage and attic. Have a yard sale to make some profits from the things you simply no longer have a use for, or start up a small eBay side business.
  2. Create your own gifts. You can learn how to make all kinds of interesting consumable gifts like candles, bread, soap, etc. You’ll save money and since they are consumable, they won’t end up re-gifted or cluttering up someone’s home.
  3. Use coupons! Shop only one time per week to eliminate impulse buys and always check store sales to coordinate them with weekly coupons. Always take a list with you to the grocery store.
  4. Cut your own hair. This is actually a lot easier than it sounds. There are a lot of helpful YouTube videos on this topic, and you can even learn how to cut all of your family members’ hair for additional savings!
  5. Shop vintage. If you haven’t checked out vintage shops lately, put it on your priority list. Not only will shopping vintage save you a staggering amount of money, but vintage wear is actually in style right now.
  6. Start packing. Pack your lunch at least one time per week if you work outside of the home. Packing even more than once is ideal.
  7. Start a ‘no spending week’ experiment. This is a great way to put a little bit more money in your savings account. Pick one week every few months and don’t spend any money that week at all. This is aside from the cost of gas to get to and from work and any daycare expenses. Use up all of the food in your pantry and refrigerator. Entertain yourselves with books and movies you already own. Visit the library to stock up on books if you need more entertainment. You can intensify this experiment by even cutting out the cost of gas by biking to work or carpooling.
  8. Shop around for deals on car and home insurance.
  9. Get familiar with your library. Instead of renting a movie or stopping by Redbox on a Friday night, pick up a few movies from the library on your way home from work. Not only do they have a huge selection of awesome books, but you would be surprised at the movie selection available at most libraries these days.
  10. Stop and think. Never make an expensive purchase (unless it is absolutely necessary for your survival) without thinking about it for at least a month. Usually what happens is you will have forgotten about the unnecessary purchase by the end of the thinking period.

Look for more helpful money saving ideas right here at the Veitengruber Law blog next week. Please feel free to add your own suggestions in the comments!

Securing Your Financial Stability in 2013

money ideaPhoto courtesy of Serge Melki

Here at Veitengruber Law, we understand that not everyone makes New Year’s resolutions. It’s true that resolutions made on a whim often go ignored, making the entire concept of New Year’s resolutions seem obsolete and trite. However, because of the incredible importance of your credit score, making a promise to yourself to improve your financial stability this year is something that you can “resolve” to do and feel good about when you see the results in several months’ time.

Most people have some understanding of just how many things your credit score affects.  Mortgage lenders, insurance agents, auto dealerships, credit card companies, landlords, utility companies, cell phone companies, and now even many employers are allowed to (and do) check your credit score and report in order to determine if they would like to enter into dealings with you in some way. Your credit report tells people a lot about your reliability financially and alerts them to problems that you have had repaying debts.

If your credit report has negative things to say about you, it’s high time you did something about it.

Copious numbers of people have previously hesitated to take steps to to improve their credit rating due to that nasty four letter F-word. It is easy to let Fear of the unknown prevent you from moving forward. Perhaps you don’t even know what your credit report has to say, and you are afraid of finding out, much like some people are afraid of going to the doctor for fear of any bad news he may share with them.

You can now put at least your credit report fears to rest (We can’t help you with fear of the doctor, though). Even if your financial situation is dire, there is nowhere for you to go but up, and the good news is that our attorneys have experience getting even the worst credit scores turned around and moving in the right direction in six months to a year’s time.  We can get you on your way to a credit score that shows all lenders and employers that you are responsible and that you are a person that they would like to be involved with.

Our extensive experience negotiating with mortgage lenders guarantees that we will be able to help you modify any existing home loans that you are having difficulty repaying.  We will also help you negotiate terms with any other creditors so that all loan terms are a better fit for your income.  Even if you have racked up an astronomical credit card bill, we can work out a streamlined plan with the credit card lender(s) so that you will be able to to pay your bill(s) and so that the lender will be satisfied as well.  This means they will no longer be reporting you to a collections agency, and your credit score will respond accordingly. We will negotiate with utility companies, and any other creditor to whom you are currently indebted.

It is possible that you even have errors in your credit report that you are not aware of which can be causing your credit score to dip even lower. There are, in fact, studies that show that the credit reporting system is flawed and that up to 80% of credit reports have mistakes in them. It is also highly likely that your credit report has financial information that is out of date or irrelevant at this point.  This can be giving creditors and potential employers the wrong idea about who you are as a borrower, employee and individual. Mistakes on your credit report can also be the reason that you are paying higher than average interest rates, which, if addressed and fixed, can end up saving you money every month on loans that you currently hold.  This will cause your credit score to rise even more quickly, because payments will be easier for you to make, and your loan balances will begin to to drop.

Regardless of the reason(s) for your financial difficulties in the past, it is fabulous news that you are now looking to the future and are determined to secure your financial stability in 2013 and beyond. It is even more encouraging that you have reached out to find a credit repair attorney with experience under his belt and a “get it done” attitude.   Our firm has done it many times before, and we look forward to bringing your credit score up from the depths of financial hell by formulating a plan that will set you on a course to financial freedom.