Last year, Arkansas resident Cheree Miller was buried under $30,000 in credit card debt. The financial burden of caring for an elderly parent, car problems, and unexpected home repairs contributed to a situation that was spiraling out of control when Miller entered a video contest on debt. She won the $10,000 prize. Thanks to the prize money and an online financial management course, Cheree has only $4,000 in credit card debt today, and it’s melting quickly. “Winning the contest changed my life,” says Miller.
Could $10,000 turn your debt problems around? That is the question nonprofit credit counseling agency InCharge Debt Solutions is asking America during April, Financial Literacy month, with the 2nd annual “Be InCharge of Your Debt” contest. The lucky winner will receive $10,000 toward unsecured debt.
For a chance to win the grand prize, contestants must first complete the Mind Your Finances e-learning course (it’s free) and then create a video about how they will apply the principals they’ve learned to their personal debt situation.
Helping thousands of people climb out of debt each year, InCharge Debt Solutions understands the commitment and creativity that come with living on a budget hemmed in by debt. InCharge encourages clients to “get creative” on the road to becoming debt free. If you’ve never thought of budget-living as a creative endeavor, here are some ideas to change your mind.
Boring: Picking up lunch at the fast food restaurant near your work.
Creative: Learning how to cook with low cost bulk ingredients, seasoning with spices. Freezing leftovers.
Boring: Buying a treadmill at a big box retailer for $300.
Creative: Finding one at a garage sale for $25 (along with 20 children’s books for 25 cents/each and a new dress for $5.00).
Boring: Buying your mother a gift certificate for her birthday.
Creative: Combing your digital photo archives, ordering prints (.09/each), and making a new family album.
Boring: Not doing anything about your debt.
Creative: Learning about money management, putting a plan together and knocking out your debt once and for all.
If you’re inspired to learn how to manage your finances, check out the “Be InCharge of Your Debt” contest today. It’s as easy as 1-2-3.
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Learn how to Mind Your Finances.
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Make a video about how what you learned will help you to “Be InCharge of Your Debt.
- Get aggressive with your debt repayment, either by tackling it on your own or with the help of a debt management program through nonprofit organization InCharge.org.
Cheree Miller won a contest and $10K to put toward her debt, but with a little financial education, commitment and a creative budgeting approach, she’s paid off an additional $16,000. This year, thousands of consumers are paying off hundreds of millions of dollars in debt by enrolling in InCharge Debt Solutions debt management program. Benefits of a debt management program include: reduced interest rates, one convenient monthly payment, ability to pay off your debts faster than on your own and elimination of over-the-limit fees.
So, what are you waiting for? Be InCharge of Your Debt now!