VOLUME 12 #11

• Revisiting Your Fixed Expenses • Reaping The Benefits Of Rewards Programs • UCAN • Spare Change • Get Home Ready For Winter • Frugal Last-Minute Gift Ideas

As life changes, our spending priorities may need a quick Do-It-Yourself fix. You can keep your budget in working

order if you regularly reconsider your individual decisions and needs.

Take Inventory

Take a look at the bills and necessary expenses you have and reconsider the ones that no longer

make any sense to your current needs.

For example, what about that yearly recurring

debit card deduction for a magazine subscription that you never use? Many of the expenses we think are needed may just be passive withdrawals for things based on decisions you made long ago.

Perhaps you are paying for a house that has become too big for your needs now that your children have moved out.

Record everything you purchase and how much it costs using an application on your phone, an Excel spreadsheet or by writing it down. Try to save all receipts so you can account for every penny you spend. Then make sure your fixed expenses still work for your current living situation.

Reassess Your Priorities

Once you have tracked your expenses and discovered what you need to fix,

it’s time to consider what purchases mean the most to your life and financial future.

Figure out your income and subtract necessities such as rent, utilities, car insurance and food from your total income. Take a look at what you have remaining.

To help break things down you may want to divide your expenses into categories and begin thinking monthly. Start with what you absolutely need to pay, such as utilities and other bills. You

should include expenses such as food in your breakdown, however it would be wise to set limits.

For example, dining out may be considered ‘food’ but it is not a good idea to eat out frequently when you are paying down debt.

Make sure you set a reasonable amount aside for necessities each month so that you don’t spend on things you don’t need.

After you’ve tracked spending for an allotted time, evaluate how much you spent on non-necessities. What can you cut back on?

Evaluate Your Spending History

Track your expenses for several weeks to get a clearer picture of where your money is going. Look through your list of purchases for small things like daily coffee drinks, vending machine snacks or impulse buys. These types of expenditures may seem insignificant, however they can add up if you aren’t prudent.

Set Goals

Continue to write down budgeting goals for yourself on a regular basis. Feel free to revisit that list as often as possible. If you want to spend less in a particular category each month, consider ways to accomplish this goal. Once you are more aware of your money habits you may find it easier to pinpoint trouble areas in your budget.

As you reassess your spending, consider where your money goes.

Remember that once you fix your budget and pay off your debt you will be more able to put money toward things that are really important to you.

For example, once you complete your program, take the money you were putting toward debt and put it into a ‘new car’ fund or ‘special trip’ fund. Also consider that the faster you fix your finances and pay off your debt, the sooner you can prepare yourself for retirement.

If you are having difficulty getting on track, try to start with baby steps. As you achieve one goal, move onto the next. It might be a wise idea to cut back in one area of your budget. Then, once you are comfortable with a new routine, begin looking at ways you can save in other areas of your life.

When you do need to shop, make a shopping list and stick to it. Place only things on your list that meet your needs and fall within your budget.

If you see something you like, give yourself time to think about the purchase, You may want to write the item down, wait a few days and then revisit it to see if the urge

to purchase the item is still as strong as when you were in

the store.

RevisitingYour ‘Fixed’

ExpensesGet A Handle On Finances

Once you graduate from your debt settlement program you may choose to use credit cards.

If a vacation fits into your budget, the right credit cards can possibly help you save money.

When you begin researching credit card offers, try to become familiar with the benefits each one offers. Here are a few questions to ask yourself.

Does It Offer Perks For Extra Baggage?

Some airlines offer perks to travelers who use their credit cards to pay for a flight. Other cards that offer travel perks might reimburse travelers for other various charges.

Is Insurance Covered?

Some cardholders may already have certain perks such as foreign medical emergency coverage, accident insurance, purchase protection and extended warranty benefits. However, be aware that these services will not be adequate

enough to completely replace your regular insurance. It would be a good idea to find out exactly how much insurance is covered by the card you are considering and what exactly is covered.

What About Mileage?

Savvy travelers will know about their mileage perks and use them wisely. Be aware that some airlines offer their own credit cards. You may get a bonus just for signing up plus one mile for every dollar spent. Other airlines may even offer to waive the annual fee for one year as a bonus.

Rental Car Discounts?

Prior to renting a vehicle, you may want to check with your card issuer to see if you already benefit through them from car rental coverage with little or no deductible. Try to be sure you understand any limitations and rules associated with the coverage if you have any. Keep the fact in mind that if you purchase insurance through your rental car company it may void the policy you get from your card issuer.

In addition, if you carry full insurance coverage on your own vehicle paying extra for your rental may not be budget friendly.

Is It Worth It?

While researching credit card rewards programs try to ask yourself often if the rewards are worth the risks. For example, will a nice reward package outweigh paying a high interest rate? Will you still qualify for rewards if you pay your balance in full each month? Looking ahead may help you avoid financial mistakes in the future.

Reaping The BenefitsOf Rewards Programs

Credit Corner

Fun, Frugal Last-Minute Holiday GiftsLast-minute holiday gifts can be a tricky undertaking. You probably

want to give a gift that shows your thoughtfulness and will provide enjoyment on the recipient’s part. However, you don’t want to

break your budget. Here are a few ideas for you.

For The Coffee Lover

Consider a coffee gift basket. You can find many unique and exotic blends in larger chain stores and not all of them are expensive. Start with a pretty, inexpensive basket and some pretty decorative paper to jazz things up. Then fill your gift basket with your coffee-related items. Need a little something extra? Add a travel mug or gift card with a nominal amount from your local coffee shop.

App-tastic Idea

Who doesn’t like apps? There are so many for adults and children that the possibilities

are endless. Or, if you need a unique gift for an adult or child who likes to read, consider buying an e-book you think they would enjoy or an e-subscription to their favorite magazine.

Perfect For Movie Lovers

Need a frugal idea that would be perfect for the movie-lover in your life? Perhaps the recipient would benefit from a Netflix subscription. The signup is easy and can be done from your computer. Netflix plans are on a month-to-month basis which allows the gift recipient the option to continue their subscription once it runs out.

Know A Pet Lover?

If you have exhausted all of your options for an individual consider whether they have a pet.

You might want to put together a basket full of animal necessities or fun goodies. For example, laser pointers usually provide hours of fun for cats as do furry toy mice, especially if they are filled with catnip. Dogs love durable chew toys. Just try to take the animals age and size into consideration when choosing a gift.

To Regift Or Not To Regift

Regifting is acceptable to some and not to others. If you do decide to pass on an unwanted gift, try not to re-gift just for the sake of getting rid of something.

For example, perhaps you received an gift, such as a kitchen appliance or gadget, that you already have. Would a recipient on your list need it, use it and love it? Make an effort to pair your gift with the interest of the receiver. Also, make sure the package is unopened and free of old wrapping paper.

Fun Exchange

If you and your friends want to celebrate a little holiday cheer by exchanging gifts you might be able to stay frugal by having a gift swap with a budget-friendly limit.

Bring small, unwanted gifts that you do not want or know what to do with and see if they’re a better match for others in your group.

I just wanted to thank you so much. The staff is amazing! You have helped

me take another step toward home ownership and restoring my credit. - J.S.

Get Your Home Ready For WinterWith winter just around the corner,

it is possible to save money on energy and heating costs by

completing a few simple Do-It-Yourself tasks.

Thermostat. Take your household’s needs into consideration and think about how to adjust your thermostat to save money. If you are used to 70 degrees, you might want to start out reducing the temperature to 67 degrees for a week. Gradually adjust the temperature and find where you are most comfortable.

Check For Leaks. You could keep warm air from escaping by caulking leaks. ‘This Old House’ magazine suggests using one of four varieties of caulk - butyl, latex with silicone, acrylic with silicone or tripolymer.

Check for cracks, holes or gaps around ductwork, plumbing pipes, window and door frames and any electrical outlets and switches.

It is also a good idea at this time to make sure your storm doors close properly. If they don’t, you could tighten seals by adding some weather-stripping around the door. Plastic sheets of window insulation may also fit your needs.

Water Use. According to Bankrate.com, you should make sure your gutters and down spouts are clear of any debris that could freeze and prevent proper water drainage leading to

expensive repairs later on. Also, the United States Department of Energy

(Energy.gov) suggests lowering your water heater temperature to 120°F as well as insulating your water heater and your hot water pipes.

If you are having trouble paying your utility costs, you may want to contact your local utility company to see if you qualify for a rebate.

Monitor Electricity Use. Changing your light bulbs to energy-saving compact fluorescent lights (CFL) may save money and energy throughout the year. Also, try to turn off lights when you leave a room.

Home Heating. Try to heat only the rooms you use. Consider weather-stripping the seams around your current heating unit if you find any gaps or cracks.

Another idea might be to ‘reverse’ the blades or rotation of your ceiling fan during the winter

months which might help force the rising warm air down into the living area.

Remember that the sun has a very practical purpose! On bright winter days, think about opening the blinds to let the light and heat in. After the sun sets, snug fitting drapes over the windows might keep warmth inside, saving you money.

Apps Can HelpSimplify

Shopping Here are a few apps,

courtesy

of AppSafari.com, that might be able to help you organize your holiday shopping while staying within your budget.

The Christmas List: This app enables users to organize gift recipients into groups such as business recipients, family or friends. You may also develop your lists for each individual gift recipient.

In addition, you can create a shopping list that allows users to determine what is ordered, what gifts you aim to purchase, and what gifts are second-choice in case your preferred gift is unavailable. You can even organize gifts by stores to make things more streamlined.

If you adjust your settings to do so, your shopping list for a particular store will appear on screen. Shop from that frugal list to stay within your budget! (.99 For iPhone, iPod Touch & iPad)

Christmas Gift Organizer: You can monitor everyone on your gift list with this app and help keep track of how much you spend on each recipient.

It is simple to add someone new to your gift list as well as a budget including price, notes and status for that person. The app also enables users to keep track of spending as well as how far along you are in completing your shopping. (.99 for Android and iPhone)

Better Christmas List: If you are visual then this app might be for you.

Wrapping and shipping lists are displayed with an image instead of words. Family and friends groups are already created for you. This app also allows plenty of room for you to type in notes to help with your shopping. (.99 for iPhone, iPod Touch, and iPad)

ShopSavvy: This app can help you save money on your shopping all year long. You can scan an item while you’re in the store and if ShopSavvy turns up a better deal you can use the one-tap purchasing option for a variety of retailers without ever leaving the app.

Users can also benefit from a section for local deals, promotions and coupons, filtered by retailer and category. (Free for Android)

The Road to Financial Freedom (RTFF) is published by The Premier Institute for Financial Freedom. Photos courtesy of Shutterstock.com and iStock.com. While articles in the RTFF newsletter are factual and accurate, they are not intended to replace the advice of professional financial, accounting, and/or legal advisers. As with all decisions regarding your finances, the advice, techniques, ideas and suggestions offered herein

should be followed under the supervision of the appropriate competent professional.

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Concerned About Your Credit Score? Completing a debt settlement program can be a rewarding experience. However, once you have graduated from your program, you may be concerned about your credit rating. Century Negotiations has partnered with Century Credit Services whose vision is to provide a low cost,

yet highly effective, credit restoration program to clients who have inconsistent or inaccurate information reporting on his or her credit report. CCS staff members would like to speak

with you! CCS offers a free consultation and will help you in reviewing your current credit report. If your report includes any incorrect items, it may be determined that you are a good candidate for credit restoration. CCS has a pay per deletion policy and many clients see

improvements after the first month. Call 877-809-6610 today!

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Company Announcements

In the case of problematic collection calls, we at United Consumer Advocacy Network (UCAN) recommend that you document all calls as close to the time of the occurrence as possible. This will

allow you to give us a clear and accurate report of the details, which could be vital information if UCAN has to take further action and investigate this occurrence.

Importance Of Call Logs

At this time, you may be using your call logs to log phone calls you are receiving from collectors. These documents can help us detect a pattern of calls or give us a general idea of a possible harassment problem.

Unfortunately, you may occasionally engage in a particularly unpleasant conversation with a collector. We would usually recommend that you avoid getting into a dialogue.

However, if you do engage in conversation of a harassing or threatening nature, you should write a summary of the conversation after you end the call. It is important that you sign, date, and send your summary to UCAN as soon as possible.

Although you may be upset after a disturbing phone call, it is important that you write down what happened as accurately as possible so we can try to help you. This information could be used as proof against a collector in the future.

Third Party Contact

Certain collectors may also contact neighbors and/or relatives for location information or to relay a message.

According to the Fair Debt Collection Practices Act (FDCPA), a collector can call a third party in an attempt to obtain updated contact information or to leave a message. However, a collector is not permitted to discuss a debt with a third party. If you discover that a collection agency divulged information about your debt, ask your neighbor or relative to also write a summary about what happened. Forward this signed and dated letter to UCAN as well.

We realize that documenting these incidents requires you to do some paperwork and UCAN appreciates your time and energy.

At UCAN, we dedicate ourselves to reducing collector harassment and protecting the rights of our clients.

When you inform us of dishonest collection activity, our knowledgeable consumer advocates immediately begin to assist you.

Feel free to contact us at 1-877-462-8226 or e-mail us at info@ucan.net. Our normal business hours are Monday thru Thursday 9 a.m. to 6 p.m. EST and Friday 9 a.m. to 5 p.m. EST.

Document Questionable Conversations with Collectors As They Occur

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