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In an era of economic uncertainty, Extension is working to provide Alabamians of all ages and economic background with practical, research-based knowledge and skills they need to make sounder financial choices – choices that, in turn, contribute to stronger, happier families.
You Can Be Debt Free
Personal debt is the total of all nonmortgage debt for which you are responsible. This includes credit cards, medical bills, car payments, student loans, and other short-term loans. Using credit today may mean having less money available for next month's expenses. All too often, a reduction in cash is met by an increase in credit use.
Credit is an easy trap. Unplanned decisions about how we spend our limited cash resources and careless use of credit can limit our financial freedom. Credit advertisements would have us believe that with credit we can "have it all, right away!" But depending on credit can slowly rob us of our financial freedom.
Have you taken a close look at your spending lately? Do you find yourself charging items that used to be cash purchases? Do you make only minimum payments to creditors or skip payments when allowed? Have you requested increases in credit lines or been turned down on recent credit applications? Have you considered making a consolidation loan? Have you considered filing for bankruptcy? more...