When Debt is Too Much
You have too much debt if your combined bills (including rent/mortgage, car payments,
credit card payment and other revolving debt payments) exceed 50% of your income.
You need to find some way to reduce and eventually eliminate the credit cards and
other revolving loan and debt payments. You need to find debt consolidation help
now and get yourself back on track.
Where to Go
You should find a reputable nonprofit debt consolidation organization that offers
many counseling and education services for free. These groups will analyze your
financial position, help you establish a budget and long-term strategies, and provide
the financial management education you need to keep yourself in a good position
for the rest of your life. Debt management plans involve negotiations with your
creditors to get you reduction in total debt and perhaps lower interest rates for
the remainder of your payment periods. You will then make one payment to the organization,
which will then distribute the payments to your creditors as agreed. Their fee will
be about 8% of the monthly payment with a cap around $35.
In the San Jose area, Consumer Credit Counseling Services has several offices in
the San Jose area. They offer all of the services above, and all counselors are
nationally certified. Further, they provide pre-bankruptcy and reverse mortgage
counseling.
Trying to Live More Cheaply in San Jose
This is truly a difficult task, for everything in San Jose is exorbitantly expensive.
In the heart of Silicon Valley, San Jose has the highest priced real estate in the
entire nation. There won't be any bargains to find in housing.
What you can do is begin to use your environment for pleasure, to use your leisure
time inexpensively and to establish a relationship with your environment. The weather
is great, and there are lots of free parks. Use public transportation whenever possible,
as gas and parking costs are terrible. Brown bag your lunch. You need to save on
the little things so that you can enjoy a meal out or some other "luxury" once in
a while.
Some Tips for Tourists
Among attractions for tourists on a budget are the Museum of art, Happy Hollow Park
and Zoo, the Japanese Friendship Garden, and the Winchester Mystery House, the Victorian
mansion built by Sarah Winchester, complete with elaborate gardens. Accommodations
for under $100 are available at the Arena Hotel, the Doubletree, and the Alameda.
Reasonable dining is difficult to find, barring fast food, but can be found at Sonoma
Joe's or Casa Isabel.
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