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r e d f c u.o r g
Need a "get out of debt" plan or just
need someone to read over your credit
report with you? Redstone Federal
Credit Union's accredited financial
counselors can help.
Call Redstone at (256) 722-3796 to schedule an appointment with an accredited
financial counselor or send your financial questions to aspire@redfcu.org.
Do not email any account or personal identification information.
Do I have to include EVERYTHING in my budget?
Your budget must include everything you spend. Look at an entire month – not just a
week. e biggest budget buster is food. Not sure how much you spend? Save and review
your receipts for an entire month. ey should be a real eye-opener. Write it down. By
putting it on paper, you tell it what to do.
YOU ASK – WE ANSWER!
How do I pay off credit card debt quickly?
Here are four steps to follow:
• Target one debt at a time. Either pay
off the card with the highest interest
rate or concentrate on the one with the
smallest balance. Once you pay off one
card, continue to the next.
• Pay more than the minimum payment
amount. If you pay more than the
minimum payment monthly, you will
pay less in interest overall. Every dollar
over the minimum payment will go
towards reducing your balance – the
smaller your balance, the less you have
to pay in interest.
• Combine and conquer. Consolidating
your debt will allow you to pay off
several higher interest debts with one
lower monthly payment.
• Reprioritize your debt. Start by
categorizing your monthly spending.
Next, look at areas where you can cut
back. en take the money you have
freed up and apply it towards a credit
card balance.
Money Repair
