Here, on Rich Girl’s Club, with the help of various financial experts we continue to remind you of how important it is to control and increase your wealth. Our easy tips will help you stay financially fit. Here is one more article, written by Angela Brown – financial writer whose specialization is in dealing with financial problems and its solutions. I would also love to hear back from you, to know if you find these kind of articles valuable and should we continue bringing such topics up here on Rich Girl’s Club?! Yours, Rich Girl.

The rich people in the United States of America are pretty anxious these days with the expiration of the Bush-era tax cuts. Though the banks and the private financial institutions are responding to their credit problems and are trying their best to raise financial boot camps to ease off the worries of the super-wealthy class, yet there are no such changes. The rich girls are using multiple credit cards with outrageously high interest rates and are landing up in unsecured debt mire. Though the debt settlement companies are there to help such wealthy girls, yet it is always recommended that one should try to manage her debts on her own so that she doesn’t require running to professional financial companies. Here are some easy debt settlement tips that the rich girls may follow in order to seek financial freedom.You can also visit http://www.debtconsolidationcare.com/debt-settlement.html for more info regarding this.

• Make sure you know where your pennies are spent: You can never begin to save a dime unless you know where your pennies are going. Craft a frugal budget so that you get to track your monthly income and your expenditure. Though it is a fact that rich girls find it extremely tough to keep track on their pennies, yet you have to try and make this possible. Accumulate the bills so that you know what you’re spending and how much it costs from your income.
• Make a list of your total debt amount: You then need to make a list of the total debts that you owe your creditors. Most researches show that the rich and the wealthy people are the ones who use multiple cards and they are the ones who drown themselves in a sea of high interest debt. Also make a list of the interest rate and the due dates on each account so that you can make a solid plan of action.
• Stop relying on your credit cards: Since you’re already rich, you must concentrate on using cash while shopping so that you don’t incur too much high interest debt. The rich girls usually have the habit of whipping the plastics even while making purchases like groceries. Shun this fatal financial habit as this can push you deeper into the debt hole. Carry cash and stop shopping whenever you exhaust your cash.
• Negotiate with your creditors: It is usually said that girls have better money management skills and that they can also plead people into believing them. Capitalize on all such skills and negotiate with your creditors. Tell them about your financial hardship and the reason that is barring you from making the payments on time. Make them believe that you can make timely payments if they reduce the principal balance.

As soon as the creditors agree to a debt settlement, start making the monthly payments on time to lessen the impact on your credit score. Rich girls must always remember that living beyond their means is always a bad habit. As you’re wealthy, you may not be concerned about your finances but make sure you pay your bills on time to avoid unnecessary late fees and penalties. Stay wealthy and preserve your wealth for more important purposes by practicing effective personal finance management.

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