Is a Monthly Savings Plan Worth It?

October 28, 2020 at 6:00 AM
How can a monthly savings plan get you out of debt?

Getting out of debt is one of the most important things for many Americans. The weight of debt eats into each aspect of our lives and often prevents us from living the lives we want and deserve. While each person’s financial situation is unique, a monthly savings plan can help most people get on a path to financial freedom.

But one of the most important considerations is whether or not you have the income to allocate to a monthly savings plan if much of your income is going to basic needs like rent/mortgage, food, and medical bills. But consider this: the longer debt lingers, the more you’ll pay over time. Here’s how to determine whether or not a monthly savings plan is worth it for you.

Why consider a monthly savings plan?

Let’s be honest: saving money is hard. Especially when there are so many other things that we can spend our money on, whether those are absolute needs or wants. Sometimes, it can feel like chipping away at debt gets us nowhere, because we see little difference. But remember that any allocation to your debt is progress.

Monthly savings plans help us get a clearer picture of our financial state, including:

  • Exactly how much we must spend each month on the necessities
  • How much we have left to spend on the things we want
  • And how much we can comfortably direct towards debt

Once we know exactly where we stand, we can then begin reallocating funds to debt. While it’s rarely easy to make this decision, it’s an important one, and means that we’re doing what we can to inch towards financial freedom.

Debt Help, Inc.’s monthly savings plan

While many of those in debt may be able to pay off their debt without assistance, DebtHelp’s Plan for financial freedom expedites the process while also implementing a monthly savings plan.

While The Plan is not right for everyone, it does help most Americans who hold unsecured debt of more than $5,000. Keep in mind, though, that debt settlement is not the solution for everyone. When you reach out to us about your financial situation and needs, you can be sure that a debt advisor will help determine if you and your financial situation are right for our solution.

If you meet the qualifications, we’ll help you create a personalized monthly savings plan. This plan is essential to how much you’ll pay to DebtHelp throughout your individualized plan. We understand that your financial situation is unique, and we believe that your plan should be, too.

While your plan will be different from all others who benefit from DebtHelp, it will serve the same purpose: getting you on the path to financial freedom and the financial state you deserve.

Remember, though, that DebtHelp is not a credit repair organization. We’re here to help you settle debt with creditors. This process will impact your credit, so you must be sure that DebtHelp is right for you. We’re happy to answer any questions you may have before determining if you qualify.

Gain financial freedom with DebtHelp

Debt is one of the leading causes of stress in the United States—and we want to be part of the solution. DebtHelp’s monthly savings plan helps you get out of debt by repaying on a timeline that works for you. Contact us today to learn more, and to get on the path to financial freedom.