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May 5, 2008 5:30 pm US/Eastern
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South Floridians Try To Survive The Credit Crunch
Credit Counseling Services Inc. - 1-800-SAVE-ME-2
MIAMI (CBS4) ―
Between the housing market and the high cost of fuel and food- many people are having a hard time making ends meet.
"I mean I just don't think there's too much of a debate about it," said Laha Schonali. "There is a problem, a serious problem."
More families are relying on credit cards, but that means the risk of debt is on the rise.
"We're extremely busy, explained Howard Dvorking founder of Consolidated Credit Counseling Services. "There's about a 60 to 70 percent increase in traffic compared to last year and what that tells us, there's a huge need out there."
Some call on the help of credit counselors to reduce payments, interest rates or even learn how to make a budget and stick to it.
"It's a situation where I wanted to be able to get out of debt faster, not necessarily behind, but I just wanted to be able to make more of an impact every month," said David Field who wanted help. "Have more money go toward the premiums as opposed to the banks."
Now, more than ever, you've got to be smart with your money: Work off a budget, make sure you're making a purchase that's necessary, and pay cash whenever possible. And remember, to look for cheaper credit card interest rates and home loans.
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