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United Settlement » Improving Your Financial Situation
admin August 29, 2017

Improving Your Financial Situation

Looking at your finances from where they sit today, your situation may feel more than a bit challenging. However, with proper planning and discipline, you can turn things around. The first step toward making your situation better is to fully accept that you have a serious debt problem that needs to be addressed. Once this is done, you can begin to clear a path toward eventual financial recovery.

Begin by taking a fair and balanced look at your current financial situation. Take stock of your monthly cash inflows and outflows, and determine what your true bottom line looks like on a monthly basis. If you’re running a deficit, you will have to make choices, both obvious and difficult, to better manage expenses.

Save money, prevent debt
cut your credit cards

No More Plastic

The next step is to stop using your credit cards and credit lines any further. There’s simply no good reason to fall deeper into debt. Importantly, do not close any of your existing accounts, as doing so can lower your credit score. Simply refrain from using your accounts while still maintaining them and focus on paying down your debts with any extra money that you earn. Live by your cash and debit card alone while following the following hard and simple rule – If you don’t have the money to buy it, then live without it.

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Get Working and Simplify

To enhance your earnings, pursue a second job with flexible evening and weekend hours. Restaurants, retailers and other service businesses are viable candidates for securing extra income. You can also consider leveraging any specific skills that you possess related to teaching, writing, editing, photography, web design, the arts, tax preparation, and salesmanship, for starters.

It will require discipline and sacrifice to improve your financial situation. It will be necessary for you to learn to live without some things to which you may have grown accustomed. Until you’re on firmer ground with your debt, gone are the days of attending expensive sporting events and concerts. Gone are the days of spending money on high-end clothing. Gone are the days of trying new restaurants. When you’re not working, you may have to spend more time than you’d otherwise prefer simply relaxing at home, reading or watching television for entertainment. However, look at it this way – It’s a matter of sacrificing in the present so that you can have plenty of time to enjoy more of life’s little extras in the future.

budget yourself

You Can Do This

Permanently reducing your debts will require you to take consistent long-term action. Think of debt-reduction as a new habit, and not something that you merely do some of the time, or only when you feel like it. No. Rome wasn’t built in a day, and just as getting into better physical shape takes time and effort, so it will be with your debt-reduction process. Clear your mind of any questionable financial decisions that you may have made in the past and instead focus on your future. Understand from the outset that embracing a new and simpler lifestyle probably won’t prove easy or feel very good in the beginning. However, you will generate momentum, so remind yourself that making the full effort is in your long-term interest. Things will indeed get better. You’re not the first person to fall on hard times – and you most certainly won’t be the last – but this can be the last time that you journey down the debt-reduction road in your lifetime.

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December 04

Federal student loans were the reason I ended up at United Settlement

Federal student loans were the reason I ended up at United Settlement. I had about $200K to pay back and I was not quite sure where to tackle that debt once I got out of school. But I reached out to that company and they provided...

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December 03

Everyone knows how horrible student loans are

Everyone knows how horrible student loans are. For me and my family, they had become more than just an annoying monthly bill. They had taken over our lives. That’s why I decided to take action and find a company like United Settlement...

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I cannot believe I was finally able to find a company to actually help me pay off my debt

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November 19

Dealing with high interest auto loan debt was difficult for me and my wife

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No one really wants to go bankrupt, and neither did my family

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November 08

I had been through about 5 different credit counseling agencies before I found United Settlement

I had been through about 5 different credit counseling agencies before I found United Settlement. I had read through their reviews and made the decision to move forward with them. I also was so impressed by their free information...

Filip Rosas
November 07

As a business facing some unwanted financial difficulties

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Warren Hutchinson
November 02

I had no clue how to create a debt management plan

I had no clue how to create a debt management plan and in fact, I didn't even know what a debt management plan was. Fortunately, I reached out to United Settlement before I had too much debt to tackle. I was so pleased with the...

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Being burdened by debt is one of the biggest struggles we faced as a family

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Dawn Mercer
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Student loan debt was my worst enemy before I ran into United Settlement

Student loan debt was my worst enemy before I ran into United Settlement. I really thought I would just have terrible credit for the rest of my life because I will never get out from underneath it. It was so stressful of an experience....

Forrest Guest
October 25

I never thought about settling our credit and auto loan debts

I never thought about settling our credit and auto loan debts. I honestly thought the only way out of our situation was to go bankrupt. But that all changed when we reached out to United Settlement. We were able to successfully...

Henrietta Cline
October 18

We were dealing with extremely high-interest rates on debt

We were dealing with extremely high-interest rates on debt. That made it difficult to make improvements in what we owed. We were pretty much devastated. By our debt because we really wanted to buy a house for our new family. So,...

Ehsan Burris
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Auto loans are my family’s biggest problem

Auto loans are my family’s biggest problem. Sure, having them is a necessary evil in our modern era. We spent years trying to pay our auto loans off. But the problem was, we never could make headway. We missed several payments...

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Bankruptcy was not an option I wanted to use

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Zachary Armstrong
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United Settlement was there for me when I could not be there for myself

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Alicia Nichols
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Everybody knows how ridiculous student loans are

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Keyaan Hilton
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I had no clue that I was paying more than 100% APR on my small business loan

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NicoDerm Sumner
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Clients who stay according to debt relief program can realize approximate savings of 50% before fees, or 30% including fees, over 12 to 48 months. All claims are based on enrolled debts. Not all debts are eligible for enrollment. Not all clients complete our program for reasons such as: their ability to save sufficient funds. Estimates based on prior results, which will vary based on specific circumstances. We do not guarantee that your debts will be lowered by a specific amount or percentage or that you will be debt-free within a specific period. We do not assume consumer and/or business debt, provide tax, bankruptcy, accounting, legal or credit repair services/ advice. Our program is not available in all states. Please contact a tax professional to discuss tax consequences of settlement. Please consult with a bankruptcy attorney for more information on bankruptcy. If you have any additional questions please contact us.
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