Americans May Find Themselves in Financial Ruin

TROY, Mich. - Dec. 9, 2015 - PRLog -- Our nation’s finances appear to be in trouble.  Overspending, debt and interest rates could be killing the American dream one swipe at a time.  The U.S. as a whole is more than $11.85 trillion in debt with the average household owing more than $16,140 in credit card debt alone (Chen, 2015).  Out of the thousands of client interviews conducted by financial planner Daniel Hoban, most do not have enough saved to survive more than 2 months after potential job loss or illness.

“There are financial planners for a reason,” says Daniel Hoban, president of Spectrum Financial Resources. “Our goal is to help clients manage their money and avoid debt.  We advise clients to have at least three months’ worth of earnings saved for emergencies.”

Secure your financial future with these money saving tips:

·         Use balance transfers wisely – do not transfer debt unless it is to lower your interest rate.

·         Use cash – people spend 12-18% more when they use a card (Zuliani, 2011).

·         Check your credit report – correct any mistakes that could be causing you credit grief.

·         Pack a lunch – you can save more than $112,000 over a lifetime (Zuliani, 2011).

For an informative interview, contact Daniel Hoban at (248) 643 0033.

###

Daniel Hoban is a registered Principal offering securities through United Planners Financial Services of America, Member: FINRA, SIPC. Advisory service offered through Spectrum Financial Resources.  Spectrum Financial Resources and United Planners are not affiliated companies.