Financial Counseling

Reduce your Expenses

Reducing your monthly expenses helps you make the most out of every dollar you earn and frees up more cash flow in your budget. It also helps you avoid financial distress so you don't have to struggle to make ends meet. The following strategies and tips can help you reduce your monthly spending so you can save money and achieve your financial goals faster.

Getting out of Debt

Debt consolidation can help you find relief from your credit card debts by reducing your interest rates and easing the monthly burden of your debts. However, there are a number of options available when you decide to consolidate your debts.

Debt-to-Income Ratio

Your debt-to-income ratio offers a way to easily assess the state of your finances. The ratio compares your total monthly debt (not including your rent or mortgage payment each month) to your total monthly income. A debt-to-income ratio that is less than 20% is considered to be a good number. Effectively, this indicates you are financially stable.