Six Top Tips for Paying Down Debt
This is it — that time of year where we make resolutions and fresh starts.  With the average family carrying more than $8,000 in credit card debt, and an economy still making adjustments, for many, it just makes good sense to put debt resolution a little higher on the annual “to-do” list.  To help you do that, let’s take a look at six top tips for getting out of debt.

• Make a list and check it twice.  List every credit card you have, the balance owed and the interest rate you’re paying.  That will give you the best snapshot of where you are, and allow you to create a plan for where you want to be in the timeframe that makes the most sense for your family.
• Pick a card - but not just any card.  Choose the card with the highest interest rate, and adjust your monthly payments so that you’re paying as much as possible on that card until it is paid off, then re-adjust your payments for the next highest interest rate, and so on.  Also consider moving balances on cards with high interest rates to cards with lower interest rates.
• Weekly vs. Monthly.  If you carry a balance on your credit card, and you’re only able to afford paying the minimum monthly amount, pay weekly installments instead of one monthly payment. For example, if you owe $100 per month, pay $25 per week. Very often, credit card companies accrue interest daily on your balance, so paying only once a month can be detrimental. Switch to weekly and you could find yourself saving anywhere from $10-$100 per month.
• Use your savings to pay down debt.  Consider that it just doesn’t make sense to earn 1-3% interest on your savings account while paying 12, 15, or 18% interest on credit cards.
• Cut it up.  Choose the card with the most favorable rates and terms, and put it in a safe place (other than your wallet.)  Use this card for emergencies and cut the rest up.  It may seem extreme, but it is effective.  You can’t go deeper in debt if you’re not actively charging on your cards!
• Get creative.  Consider ways you can reduce your monthly expenses by $10, $20, or even $50 or more a month and put that towards a specific debt. You can reduce your repayment schedule by months or even years.  Some ideas for saving include:  Cancelling magazine subscriptions - many could save you more than $10 per month.   Instead of going out as a family, consider game nights and family picnics as less expensive alternatives. This can save anywhere from $20-$60 per month or more depending on the size of your family.  Check the internet for restaurant and grocery coupons, especially the two-for-one varieties, which can save you another $10-$50 a month or more!

Make this year your year for building wealth and eliminating debt.  Little steps here and there may just help you and your family save in some very big ways! 

Buying Jitters

Are you still Renting

SHOULD I SELL OVER THE HOLIDAYS?

That’s a question we’re actually asked a lot this time of year and while every situation is unique, there are a few rules of thumb to live by, such as:

1. It can’t sell if it’s OFF the market.  While “traffic” is historically slower over the winter and holiday months, those buyers you do see are often more serious, and with a greater sense of urgency than the spring and summer months where you historically see a lot more “lookers.” Remember — it only takes ONE buyer to accomplish your goal.

2. Analyze your price.  If your house has been on the market for a while, you’re not seeing any action and spring is still months away, the first thing you need to do is truly evaluate your price.  A home priced at or below market value is a great way to pro-actively raise interest in your property.  I have some great tools you can use to best understand how to calculate price.

3. Consistency is key.  Historically, it does take time to find the right buyer or for them to find you.  Taking your home off the market breaks the consistency of a true marketing plan and lowers your exposure in the marketplace.  If pricing is right, marketing is in place and exposure is good — chances are your home will sell.
 
Call me today to learn all the inside tips and tricks for getting your home sold ANY time of year.  I can help!

Peace on Earth

Peace on Earth and goodwill to all should be our wish all year long. When the days are busy and schedules hurried, it is easy to lose touch with all that is important and all those who bless our lives and brighten our days. While individually we may not be able to exact peace globally, we can do our part for our little corner of the world.
This holiday season, we can take the time to break bread with our family and friends. We can reach out to those we’ve been missing, and we can serve our communities by lending a helping hand to those in need. Gifts of service, or random acts of kindness and charity, are no small thing to the lives they touch.
Consider offering your time or resources to the local food bank, children’s homes, shelters, nursing homes or children’s hospitals. You may even want to adopt a family in need and bring joy to children who would otherwise do without. The guidance department at your local school is often a good resource for this information.
However your family chooses to spread the joy and spirit of the season, know that you are treasured.  Your gift of friendship and the ability to help you with your real estate needs is a tremendous blessing to me. I thank you so much and wish you and yours a very safe and happy holiday!