is anyone a financial planner?

ddnsp618 Posted: Feb 03, 2009 10:36 PM

is anyone a financial planner?

we need help! lol

we went through our cc debt and we have a ton...we only have joint accounts so we want to work our debt down together...preferably by the wedding.

any help would be great!

MrsKtoBe Posted: Feb 03, 2009 11:14 PM

Re: is anyone a financial planner?

I'm not a financial planner but I bought Suze Orman's 'the young the broke and the fabulous' book, and its been SOOO helpful.

ddnsp618 Posted: Feb 03, 2009 11:18 PM

Re: is anyone a financial planner?

Posted by MrsKtoBe

I'm not a financial planner but I bought Suze Orman's 'the young the broke and the fabulous' book, and its been SOOO helpful.

thanks i need suze....maybe ill rent it from library!

flairforfashion Posted: Feb 04, 2009 04:37 AM

Re: is anyone a financial planner?

You have FM.

Utterhappiness Posted: Feb 04, 2009 07:25 AM

Re: is anyone a financial planner?

My FH took the tests recently and is toying with a change of career because he was offered a job with a financial planner... if you need some advice he may be able to help. Let me know!

Good luck... I totally know how you guys feel

IrishBrideASmiling Posted: Feb 04, 2009 08:33 AM

Re: is anyone a financial planner?

I will pass along some advice that was given to me...

Pay off your highest rate interest cc first. The thing that helped me was to cut them up so I would not be tempted to use them again.

Also, I did keep the cc I had the longest (the interest rate wasnt that high either). Ive had the card since I was 18 and 'they' say that its good to have long relationships with credit so that it shows your patterns of paying things back. From time to time I put stuff on the card, then pay it off by the time the bill comes.

ELluvsMB Posted: Feb 04, 2009 10:40 AM

Re: is anyone a financial planner?

I'm not one either but I'm very good with saving and what not. I would go through and figure out how much income u have combined then figure out your expenses. Try to write everything down even things that come up along the way and things you can possibly cut out (coffee, movies, whatever) Once you can see a bottom line number if it is positive then I would start by paying off the credit cards with the highest interest. Also, try to transfer the balance to a low interest card if possible.

FutureMrsC614 Posted: Feb 04, 2009 12:38 PM

Re: is anyone a financial planner?

once you pay off your credit cards DO NOT CLOSE THEM!!!! leave them open. Your FICO score decreases when you close a credit card!!!!
Pay off the highest interest rate cards first. Take all of your credit cards and prioritize them by interest rate. Pay at least the minimum due every month, but pay more than that on the highest card. Once that card is payed off, take whatever you were paying on that card, and pay your next highest card with that every month (plus that cards minimum), until that cards gone, and keeping doing it until all your debt is payed off. BUT DON'T CLOSE THEM!!!!