Page 12 - January 2024 Issue.indd

when you applied for and were approved for your credit card
or loan. You need to hold up your end of the deal and at least
make your minimum payment.
I wish I had a dollar for every person whose credit I have
run only to find a low credit score because of late payments

on a credit card when the minimum was only $59, or some
amount like that. To me, there is no excuse for not making a
minimum payment on a credit card.
The third action step necessary to crawl out from under a

lead blanket of debt is to make payments according to the
Kathleen Brenton outstanding balance. This is sometimes called the snowball

Broker strategy and it works like this.
Cell: 410-829-3430 Look at the current outstanding balances on all of your credit
Kathleen.brenton@gmail.com cards and line them up according to the lowest balance card
KĸĐĞ͗ ϰϭϬͲϰϳϵͲϰϲϲϯ to the highest.
BRENTON REALTY GROUP LLC
Next, follow step number #2 and make the minimum payment
ϭϬϳϵϰ 'ƌĞĞŶƐďŽƌŽ ZĚ͕ ĞŶƚŽŶ D
on all of your cards except for the card with the lowest balance.

After determining how much additional you can pay on your
Wishing you a happy, healthy, cards that month, let’s say its $400, pay that additional amount
on the lowest balance card. If the lowest balance card is $600
and prosperous 2024! then your balance will be $200 the following month. So, in

May it be your best ever! month two you pay off that $200 balance and begin paying
what you can on the next lowest balance card.

WWW.THEBRENTONREALTYGROUP.COM By doing this you will achieve a sense of accomplishment and
be more motivated as the number of checks or payments you
are making is going down. Even if you do not get to where all
Don’t hide your hair under a hat! of your credit cards are paid in full, at the very least you will
Come in for a cut you’ll be glad to uncover. have fewer monthly payments to make.
Janet Dove, stylist If you are overwhelmed with balances and have no additional
v
, stylist
Ja
net Do
e
funds to apply to the snowball strategy you should consider
contacting National Debt Relief or Consumer Credit
on
S
t
920 Gay
., Dent
920 Gay St., Denton Counseling Services. They will negotiate a repayment plan

410- 310-4586 that will stop or greatly diminish the monthly interest charges
410-310-4586
and get you to a point where all balances are paid.
Appointments ONLY!
Appointments ONLY!
Please call to schedule
Please call to schedule With all the economic uncertainty that comes with
a presidential election year the smart money will be on
CUTS • COL OR • PERMS • HIGHLIGHTS managing and using credit conservatively with a focus on
CUTS • COLOR • PERMS • HIGHLIGHTS
at least keeping current on payments. With higher savings
85% to 90% of a minimum payment. In order to make a dent interest rates it is also a great time to put away any additional

in what is owed, you will need to pay significantly more than money you have and earn 5% or even more in safe money
the minimum payment. market accounts. It has been a long time since we have seen
savings rates this high. Take advantage of it.
Working your way out from under the heavy weight of a lot

of credit card debt can be very daunting. The hardest thing to Mr. Rowe is Vice President/Lending for Bay Capital Mortgage

do is to park your cards and stop using them. This is by far the Corp. with offices in Easton and Annapolis. He has lived
hardest to do, but as that old Chinese proverb says, “a journey in Caroline for his entire life and supports the county by
of a thousand miles begins with a single step.” volunteering in a variety of ways. He currently lives near
Greensboro with his wife Jeanne and daughter Kelsey.

The second step is critical to maintaining or increasing your
credit score and is by far the simplest. Make your “required”
or minimum payment. You agreed to repay your obligation
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