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STORM SEASON
Important Note:

June through November our agency may become prohibited from binding coverage should a “Tropical Disturbance” enter the Gulf of Mexico or Caribbean Sea.

In these cases we may be unable to bind new coverage quoted in open proposals until the storm leaves our area and our binding authority has been restored.

Please arrange your coverage protection early to avoid this type of delay. While we regret any inconvenience, the carriers impose these restrictions on all agencies.

Simple Steps to Get Out of Debt

Debt can be stressful for anyone. Things happen each day which can change employment, financial, and living status. In other cases, spending habits, medical care, and family create additional stressors. Loans and other financial obligations will have to be met regardless. Rather than throwing in the towel, overcome debt and get back on track. Reduce and overcome debt with these 5 steps to a debt-free life:

1. Stop Borrowing

To get ahead quickly, eliminate credit spending. This goes for credit furniture, credit cards, payday loans, new vehicles and more. The first step to eliminating debt is to stop feeding the monster. Once the debt has a set total, it will be easier to figure out how to eliminate it completely.

2. Start Saving

Create an emergency fund of $1000. This fund prevents the unexpected from adding to the debt. This buffer may be a challenge to create initially but may help avoid multiple loans later on.

3. Create a Budget

Creating a budget and sticking to it tracks income and expenses. Learning where the money is coming and going will help plan a strategy for overcoming debt. Money left over after essential expenses are covered should go toward reducing overall debt. Creating an excess is possible by either increasing income or reducing expenses.

  • Increasing income. Those with the means can increase income a number of ways. Extra jobs, overtime, commission, and other avenues for increasing exist depending on career options. Get creative. Many home-based businesses allow for extra income while maintaining a regular routine.
  • Spending less. Reducing spending helps create a budget excess at the end of the month. Look at monthly expenses to find opportunities for saving. Gym memberships, entertainment subscriptions, and eating out add up. Shop smarter by comparing prices.

4. Get Organized

Organizing debt is the next step in developing a strategy. Using one of two methods, organize all debts according to size and interest rate to begin reducing them to zero. Watching loans reduce down is satisfying and motivating for reducing more.

Organize based on size. Line up debts from smallest to largest regardless of interest rate. Begin by paying the smallest off first, then roll payments into the next debt until paying the final loan.

Organize based on interest rate. Otherwise known as credit laddering, this solution has debts arranged based on interest rate, with the highest at the top. This method reduces total amount spent on interest.

Once a method is arranged, stick to it. Begin with paying one loan, and roll payments into following loans after accounts are brought to zero. Take care in closing accounts, as closing accounts completely may cause damage to credit score. These methods work for debts large and small.

5. Get Ahead

Spend any additional income on debt. At the end of the month, excess money should be placed toward debts before entertainment. Smart spending with tax returns, inheritance money, and unexpected income will help reduce debts for good. The more placed towards paying off debt, the faster it will disappear. Create a strategy for overcoming debt today.

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