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Tips on Handling High Inflation

by Rick Munster
Debt Reduction Services, Inc.

By now, you’ve probably noticed that inflation is all over the news, television, social media, and the internet. If you’ve recently purchased just about anything, you’ve surely noticed the effect of prices rising drastically. According to the U.S Bureau of Labor Statistics, following a 7.9% increase from February 2021 to February 2022, the Consumer Price Index gained 8.5% for the year ended March 2022. The Inflation of 8.5% in March was the greatest in 12 months since December 1981.

Inflation is most commonly caused by a supply or demand imbalance. As the world continues to encounter activities that produce supply or demand imbalances, inflation will continue. While consumers have no control over the pricing of the goods they want and need, here are inflation tips to help you reduce costs, save money, and meet your financial obligation to withstand the greater inflation period. [Read more…] about Tips on Handling High Inflation

Financial Rules of Thumb for College Graduates

Todd Christensen, Education Manager
Debt Reduction Services, Inc.

Each spring, we see arenas and grandstands full of families and friends gathered to celebrate the group of college students about to receive their associates, bachelors, or masters degrees, or even their Ph.D.s. After years of enduring long nights of study and the stresses of projects, research, and finals, these graduates now face their next major life obstacle: financial independence often without any formal personal finance training or coursework. Simple rules of thumb can help during such busy and demanding times. [Read more…] about Financial Rules of Thumb for College Graduates

Debt Repayment Options – One Size Fits All?

by Lori Pollack, Executive Director
Financial Counseling Association of America (FCAA)

Being in debt can be overwhelming. As you start to think about the best ways to pay off your debt know there are options; there is hope.

How much debt do you have?
Are you able to make your monthly payments on time, or do you wind up paying late fees? Or have you fallen behind and stopped making payments altogether? [Read more…] about Debt Repayment Options – One Size Fits All?

FCAA Announces its Free Debt Freedom Tool

It can never be too early in the year to get serious about your personal finances. The Financial Counseling Association of America (FCAA) has a no-charge new tool that can help you get your personal finances back on track in 2022!

The FCAA is pleased to announce the FCAA Debt Freedom Tool. This no fee calculator was developed with you in mind and designed to give you the truest sense financially of where you are and how to get where you want to be financially. [Read more…] about FCAA Announces its Free Debt Freedom Tool

We Aren’t Just for People in Trouble!

by Linda Jacob, AFC®, CFP®, Consumer Credit of Des Moines

If you are able to make your monthly payments on your credit cards, but the balances just don’t seem to
go anywhere, perhaps a Debt Management Plan (DMP) is right for you. You do not have to be late on
your payments to qualify for a DMP. But if you do qualify, you will be eligible for concessions from your
creditors such as lower interest rates. Depending upon your situation, you may also be making smaller
monthly payments than you currently are. [Read more…] about We Aren’t Just for People in Trouble!

Still Experiencing COVID-19 Related Financial Hardships?

Financial Counseling Association of America (FCAA) member credit counseling agencies offer debt relief programs to assist consumers experiencing financial hardships related to COVID-19 pandemic.

COVID-19 financial hardships still loom large. Without relief through government aid, consumers are likely relying more and more on credit cards to help manage household expenses. Added to that is the concern that it may become more difficult for consumers to pay the bills when deferments offered by credit cards issuers end.

Now more than ever, consumers need to be aware of their options when it comes to seeking help repaying their unsecured credit card debts. [Read more…] about Still Experiencing COVID-19 Related Financial Hardships?

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