Financial tips and advice from Gail Cunningham from The National Foundation for Credit Counseling and others in our weekly #credtichat

1. SAVE MONEY OR PAY OFF DEBT ?

2. Join our #CreditChat every Wednesday at 3 p.m. ET.
This week, we talked with Gail Cunningham from
The National Foundation for Credit Counseling.“ Check Out All the Tweets and Resources:
bit.ly/nfcc-chat

3. Gail Cunningham is a financial expert for the nation’s
top media outlets and chief spokesperson for the
National Foundation for Credit Counseling (NFCC).
Follow her @NFCCGAIL
FEATURING

4. #CreditChat
The NFCC is the largest and longest-serving network
of community based, nonprofit credit counseling
agencies in the nation.
#CreditChat

5. Tweet by @AmericaSaves
Less than ⅓ of low-income households have a savings account.
#CreditChat

6. 51% of Americans don’t have extra funds available
Tweet by @AmericaSaves
to pay for an unexpected expense of $1K.
#CreditChat

7. #CreditChat
50% of household decision-makers believe they
Tweet by @AmericaSaves
“just don’t earn enough money to save regularly”

8. Why is it difficult for many to save?
#CreditChat

9. #CreditChat
Tweet by @JosephBrownUFL
You must have an emergency savings before paying off debt
otherwise you’re susceptible to incurring more debt.

10. Tweet by @MyMoneyCoach.Ca
Not having a budget makes it difficult to save and spend money wisely.
#CreditChat

11. Tweet by @ReadyForZero
Living paycheck to paycheck is probably the hardest
#CreditChat
situation to be in when trying to save money.

12. #CreditChat
Tweet by @Magnify_Money
People don’t realize how much they’ll pay in interest alone.

13. #CreditChat
Tweet by @MoneyCrashers
If you do your savings first (automate it!)
It makes it so much easier. Pay yourself first.

14. What are simple ways to save
more money while still enjoying life?
#CreditChat

15. Three keys to successful savings: set a goal,
Tweet by @AmericaSaves
make a plan, and save automatically.

16. Creating a budget shows you where your
hard-earned money is going.
#CreditChat
Tweet by @NFCCdebtadvice

17. Tweet by @MsMadamMoney
Most of us spend first then save what’s left (usually nothing).
We should save first then spend what’s left.
#CreditChat

18. #CreditChat
Budgets are imperative, but so is understanding the financial
Tweet by @magnify_money
#CreditChat
products you’re using. Know interest rates on loans and credit cards.

19. How do you stay motivated
to pay off debt?
#CreditChat

20. A budget is not designed to tell us what we can’t do,
Tweet by @MsMadamMoney
#CreditChat
rather it is to show us everything we can do!

21. Tweet by @NFCCdebtadvice
It doesn’t matter which method you choose to pay off your debt,
pick one that motivates you and keep at it.

22. How do you decide how much you
should save vs. pay down debt?
#CreditChat

23. It’s a good idea to have an emergency fund on hand
#CreditChat
Tweet by @NFCCdebtadvice
before you decide to pay down debt.

24. #CreditChat
Tweet by @MoneyWisdoms
When it comes to saving, just start.
Build your savings muscle.

25. #CreditChat
Tweet by @MoneyCrashers
to negotiate your debt payments so you can still save.
Always put your emergency fund first and don’t forget

26. What should you look for in a financial
counselor? Any warning signs to watch for?
#CreditChat

27. #CreditChat
#CreditChat
HOW TO CHOOSE A FINANCIAL ADVISOR
One of the best tips I’ve heard is to ask them
what *their* finances look like.
If they divulge (and good), A+
Tweet by @BudgetsAreSexy

28. Tweet by @Magnify_Money
#CreditChat
If someone keeps pushing products on you then walk away.
They should have your best interests in mind not commission!

29. Tweet by @NFCCdebtadvice
Look for a certified counselor at a nonprofit agency
#CreditChat
that is accredited by an independent third party.

30. Any final tips for those looking to
save money and pay down debt?
#CreditChat

31. Tweet by @NFCCdebtadvice
Take charge of your financial situation and take the first step.
#CreditChat

32. Tweet by @CecilliaBarr
Talk to your lender/creditor. Grab the reins and take control. You can do it!
Don’t get overwhelmed by your debt.
#CreditChat

33. Find a career that gives you a purpose greater than yourself.
Tweet by Brian @FinEdChat
#CreditChat

34. Join us every Wednesday at 3 p.m. on Twitter!