| About Us > Newsroom > Press Release |
PRESS RELEASE
Thursday, July 15, 2010
How to Survive the Ongoing Recession
CCCS of Greater Dallas offers free webinars and workshops to survive a poor economy
Dallas - July 15, 2010 - Consumer Credit Counseling Service of Greater Dallas (CCCS of Greater Dallas) is offering free seminars and webinars to help consumers financially survive the ongoing recession. The agency's free "Recession-Proofing Your Finances" and "Surviving Financial Crisis" classes are offered in person and online in July and August.
"While our nation had hoped to see more improvement to our economy this summer, our stock market remains unstable, unemployment remains high and the country is facing its largest man-made disaster," said Todd Mark, vice president of education for CCCS of Greater Dallas. "We are teaching consumers how to change their spending habits so they can be prepared for and survive pay cuts, decreased benefits and even job joss."
In addition to its webinars and seminars, CCCS of Greater Dallas offers the following budget tips to consider during a recession:
Review your monthly expenses. If you haven't already, start cutting back on expenses like eating out and put that extra money into savings. You'll be glad to have the money later whether it's for an emergency or to spend on something noteworthy.
Stay current on your mortgage. If money is tight, always pay your mortgage or rent first, car payment second, utilities third, food fourth, necessary insurance fifth and everything else comes after that.
Consider the industry in which you work. Many job sectors are more vulnerable to layoffs during the current economic climate. While you are employed, save and set aside at least three months worth of emergency savings to get you through a job loss or any unexpected event. A great way to save extra cash is to put any unexpected money like a bonus or raise directly into savings. If you treat the money like you never had it available to spend, you won't miss it when it's in savings. Also, start researching other companies and industries and begin networking. It's always good to know your options before you actually need them.
Change your shopping habits. While it may be difficult, shop the discount chains instead of the gourmet grocery stores; cancel your premium cable channels; stay in for lunch; and buy generic clothes rather than expensive brand names. Also, keep a log of every dime you spend. You'll be surprised by where you actually spend your money, and this log can determine ways to cut costs.
Quit charging if you have debt that needs to be paid. If you lose your income, you certainly don't want to deal with credit card debt in addition to your necessary monthly bills. Quit charging immediately and pay your bills on time to avoid increased interest rates and late fees. Focus on paying as much as you can to your credit card so you will have less to worry about if you lose any income. Look at the bigger picture - those credit lines may be necessary to use in the case of extended unemployment. Having less debt means you have more credit to fall back on once you've exhausted emergency savings.
Pay attention to your credit card bills. Given today's economy, many creditors are cutting credit lines and raising interest rates. Be aware so you know what you have available in case of an emergency.
Find free and certified help. The recession has sparked growth among businesses that claim easy debt removal. If it sounds too good to be true it probably is. Do your homework to understand the differences between debt settlement and credit counseling, and make sure you choose a provider certified by the National Foundation for Credit Counseling and the Council on Accreditation. Approval by these governing bodies means the agency has completed a strict certification process. Additionally, you should not have to pay for help. Nonprofit agencies like CCCS of Greater Dallas provide free education and counseling services.
A list of current webinars is available online at www.cccs.net/webinars. The webinars are supported through a grant by Citibank Foundation. CCCS of Greater Dallas also partners with employers to provide financial education onsite. For more information on surviving the recession, or to inquire about free workshops available to consumers, corporations and nonprofit organizations, contact Todd Mark, vice president of education for CCCS of Greater Dallas, at (214) 540-6810 or tmark@cccs.net.
About CCCS of Greater Dallas
Consumer Credit Counseling Service of Greater Dallas, Inc. is a nonprofit, community based credit counseling and debt management service. Established in 1974, CCCS of Greater Dallas and its affiliate offices provide financial education and counseling to consumers in-person, by phone, or Internet at more than 20 locations in four states. CCCS of Greater Dallas is a HUD-approved housing counseling multi-state organization and serves as one of eight counseling agencies supporting the 888-995-HOPE Hotline. The agency is also a member of the National Foundation for Credit Counseling (NFCC), the nation's largest and longest serving national non-profit credit counseling network. To learn more about CCCS of Greater Dallas' free seminars or the agency's services www.cccs.net.
|
