It’s unfortunate that we’re not taught better spending habits as children. Our society is based on consumerism which means our economy only functions as long as we are spending money. When we stop spending money our economy suffers, so we’re trained to spend money, but not how to spend money without over extending ourselves. This cycle of spending money and not earning enough to cover what we spend has led us to the situation we find ourselves in. Even the media is covering how our country has overspent to the point our deficit is something we’ll having difficulty recovering from if something drastic doesn’t change. But enough politics.
FES(Financial Education Services) has a product that will help you develop better spending habits and will help you to break out of the spending cycle and actually pay off the debt you’ve accumulated. FES is committed to helping educate people on financial matters and provides the tools to provide for your own financial well being. Debt Zero is sort of like having an at home accountant. You sit down and it asks you questions about where your money is coming from and where it is going. You tell it what your current income is, and then you tell it what sort of expenses you have. It will also ask about what debt you currently have as well as the interest rate on those debts. So if you have $5500 on a Best Buy Credit card at 19% you would put that in, and you would put your car payment at 7 ½%, etc. It will then break down for you how you should go about paying off those debts. It will also take into account your bills and expenses (like food and entertainment) and will create a budget. Once it has gathered all your information it will generate a report that will break down for you how you should go about paying off your debt so you can reduce your debt to zero(hence the name).
The great thing about the product is that not only will it help you create a budget and tell you how you should pay off your debt, it will also show you how much in interest you will save by paying off your debts in the way it shows you. You want to pay off your highest interest rate debts first because these are costing you the most money. The quicker you get your debts paid off the more money you save in the long run.
If you have any more questions about how this product works or what it can do for you, or if you’re interested in getting signed up so you can start using the product feel free to contact any of our agents on the Agent Locator tab.
To Your Financial Future,