4 Step Guide to Budget Planning

Written By Minh Tong
Feb 13, 2020
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Whether you’re budget planning to save for college or retirement, your debt challenges are unique and we understand that. This guide is designed to help you save money and get out of debt, yet the entire process of doing so is easier said than done.

That said, here are a few things that you will need to get started on to begin the process of saving and budget planning.

Drawing Up Comprehensive Budget Planning Guides

This step isn’t as complicated as it sounds. Essentially, this process entails determining your monthly income, expenses, and of course debt, while totaling it up to generate your official income report. To do this, you must first break down your expenses into categories. Here is a great way to segment your income:

1. Determine your monthly income

This is the first rational step. Ideally, your monthly income is also your monthly budget. Your salary, almonony income, government assistance checks, etc should all be totaled up to one singular number.

2. Calculate your essential living expenses

These basically include your mortgage or rent, transportation, medical expenses, and utilities.

3. Calculate your non-essential living expenses

Everyone wants to live a comfortable life so make sure you account for the optional things in your life such as vacations, pets, and holiday expenses.

4. Total up your debt

Now that your expenses are totaled, debt guides can help you begin figuring out how much you owe, from credit card debt to student loan debt to mortgages and more.

Using Financial Planning Guides for Your Benefit

Once these steps are done, you can fill out our custom financial planning guides to get your spending back on track, while figuring out unique ways to pay off your debt within your budget.


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About Americor

Americor provides debt solutions to thousands individuals and families all over the country. We’re a next-generation debt relief company with a proprietary platform designed to help clients get out of debt quickly. Together we’ll develop a strategy for you to enjoy a debt free lifestyle. Learn more about how Americor can help relieve the burdens of debt today.

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We provide debt resolution services. Our clients who make all monthly program payments save approximately 40 – 50% of their enrolled debt (average of 43%) upon successful program completion, before program fees. Fees are based on a percentage of your enrolled debt at the time of starting the program and range from 15%-25% of your enrolled debt. Programs range from 20-48 months. Clients must save at least 25% of each debt due to an enrolled creditor before a bona fide settlement offer will be made. On average, clients receive their first settlement within 4-7 months of enrollment and approximately every 3-6 months thereafter from when the prior debt was settled. Not all Clients complete the program. Estimates are based on prior results and may not match your results. We cannot guarantee that your debts will be resolved for a specific amount or percentage or within a specific timeframe. We do not assume your debts, make monthly payments to creditors or provide tax, bankruptcy, accounting, legal advice or credit repair services. Our program is not available in all states; fees may vary by state. Some programs may be offered through The Law Firm of Higbee & Associates d/b/a Advantage Law. The use of debt resolution services will likely adversely affect your credit. You may be subject to collections or lawsuits by creditors or collectors. Your outstanding debt may increase from the accrual of fees and interest. Any amount of debt forgiven by your creditors may be subject to income tax. Clients may withdraw from the program at any time without penalty and receive all funds from their dedicated account, other than funds earned by the company or fees paid to third-party service providers, as may be applicable. Read and understand all program materials prior to enrolling. Certain types of debts are not eligible for enrollment. Some creditors are not eligible for enrollment because they do not negotiate with debt relief companies. To determine the offers you may be eligible for, Americor conducts a “soft credit pull.” This credit pull does not impact your credit score, creditworthiness, or ability to obtain credit from other sources. The soft pull is not a tradeline entry, it does not report against your score and will only take a few minutes.

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