Association of Independent Consumer Credit Counseling Agencies (AICCCA)

Press Release

AICCCA Offers Tips on Cutting Budgets without Cutting Essentials

Fairfax, VA — June 11, 2009 — As families continue to cope with the effects of the economic downturn, many are looking for ways to cut expenses. The Association of Independent Consumer Credit Counseling Agencies (AICCCA) applauds those who are looking for ways to live within their means, but cautions against drastic cuts that affect basic necessities.

"People expect to be able to feed, clothe and shelter their families," said Dave Jones, president, AICCCA. "A job loss or unexpected expense can tip the scales the wrong way for families that are already struggling, so any means of saving or making money can really help."

AICCCA says do:

Identify wants versus needs. Call a family meeting after tracking expenses for a month and look at where your money is going. Be honest. Tough times call for tough choices. This is an excellent chance to teach your children a lesson that will be of value to them for the rest of their lives.

Sell something. Look through your garage and attic with an eye for things you no longer want or need. Have the kids go through their toys and books. Then hold a garage sale or take advantage of online auction sites. Remember that one person's trash is another's treasure.

Inquire about overtime or get a second job. Although the news seems dismal on this front, it could be that opportunities exist. Your second job probably won't be something you'll want to make a career of, but the extra cash earned can see you through a rough patch.

But don't:

Ignore your health. Doctor and dental check-ups are crucial to remaining in good health. Basic care definitely falls under the "needs" category.

Neglect your home. Plumbing problems, roof leaks and electrical hazards must be taken care of in a timely manner or you run the risk of causing damage that could be financially devastating.

Put off auto maintenance. Failure to change your oil and other routine auto repairs could result in a much more costly mechanic's bill down the line. It could even result in the need to purchase another vehicle sooner than you expected or planned for.

Founded in 1993, Association of Independent Consumer Credit Counseling Agencies (AICCCA) is a national membership organization, established to promote quality and consistent delivery of credit counseling services. AICCCA and its members are focused on improved creditor relations, efficient processes and advanced technology to best serve clients and creditors. AICCCA members are independent nonprofit agencies that advocate for debtors, counsel millions of consumers annually nationwide and provide debt management services to consumers with excessive unsecured debt. For more information or to contact an AICCCA member office call 866-703-TRUSTAICCCA (866-703-8787) or visit www.aiccca.org.