Consider credit cards as your worst financial enemy. Do not buy everyday items such as food, gas, and groceries on credit when you can use cash. Banks are in a virtual panic to sign up as many people as quickly as possible even if your credit is bad or unknown, because their profits on credit cards run into billions of dollars. If a bank offers you a credit card, refuse it or send it back. Financial Planning Work out a financial plan for you and your family.
Most people have no idea how much money they have coming in compared to what they are spending.
You can get a financial planning worksheet from us, free, by just giving us a call. Start by working out your total monthly income for the family from all sources and include things like child support etc. List ALL your monthly income. Next, list all your fixed monthly expenses. These are the things that remain the same every month, such as mortgage or rent payments, car payments, education and insurance.