Allison ShirkFor more articles about personal finance see the
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As the New Year unfolds and people set resolutions to hit the gym more or begin tracking calories, Latricia Schobert from Consumer Credit Counseling Service in Chattanooga said many others will also vow to start tracking their money.
The beginning of the year is undoubtedly the busiest for the nonprofit that provides financial literacy services under the umbrella of the Partnership for Families, Children and Adults. The end of January and early February is often when the first credit card payment of the year is due and when people begin to realize they overspent during the holiday season, according to Schobert, the director of Consumer Credit Counseling Service, or CCCS.
“Budgeting is kind of like being on a diet,” she said. “You just need a little bit of advice and to track your spending to become self-aware about what you are spending money on.”
The agency has some good tips for those with resolutions to get their finances in order this year. The average CCCS client is about 45 years old and makes approximately $65,000 a year, but clients can range from retirees on a fixed income to those making six figures who still need help with debt management, Schobert said.