Unpaid credit card bills and late fees are some of the financial scenarios most commonly found in American households. Since the debt crisis in 2008, things have been going downhill dramatically for many, and chances are, you are one of those people caught up in it. If you are worried or feeling stressed out about bills, having been forced to put off the dream life you envisioned for yourself and your family, or living paycheck to paycheck to satisfy basic needs, you are not alone. With the tips below, you can have more money in the bank every month, buy a home, save for retirement, launch a business, and take full control of your finances like a gentleman.

If you are dealing with creditors that won’t budge on sky-high interest rates that you have been paying for quite a while now, be willing to switch to a new card or new creditor as soon as you can. Like a new suit, credit can be tailored to fit your specific needs and circumstances.

With comparison shopping, you can do things like compare interest rates, ask questions, get knowledge about debt consolidation, credit scoring, and learn the latest tactics to save money. Here is the bottom line as a gentleman – don’t open a barrage of new accounts at once. Having a single account with a single-digit interest rate can go a long way in not only saving you big bucks but improving your credit score as well.

Credit unions serve their clients’ interests at heart. They are not out to take advantage of your financial situation, misfortune, or naivety like some people assume. In reality, they are places where you can get a wealth of information about becoming financially responsible. So, if you are looking for a low-interest rate credit card or mortgage, try a credit union local to your area. By joining a credit union, you will be helping your local community. Most credit unions offer free checking account options, late fee waivers, low rate balance transfers, and other perks. You can find information about various credit unions and their service regions by visiting the Credit Union National Association website. 

Some people with overwhelming money problems or other reasons defer paying taxes to the government at the end of each year. Paying taxes is not fun. However, being delinquent in taxes can become a nightmare down the road. If you owe back taxes to the IRS and are wondering what to do, know that you can propose an offer to settle them and get your debt under control. Almost all taxing authorities will accept a payment plan or tax amount paid in full to settle old taxes. They may even negotiate to lower the overall taxes, late fees, and interest charges that have been collected over the months or years.

Wills and trusts are worth having for a better future if you had past credit problems. You may feel ill-equipped to have your assets and liabilities under your name, let alone manage finance regularly. If this is the case, transfer those assets to a trust. A trust can help avoid probate and keep the creditors away, legally.