FOR IMMEDIATE RELEASE
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Cindy Stranad
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Local Wealth Strategist Offers Eight Tips to Reduce Debt
Landon Watts Offers Advice on Taking Control of Finances
RALEIGH, N.C. (June 5, 2008) – W. Landon Watts, a financial strategist at Banyan Rock & Talent, a Raleigh-based collaboration of wealth strategists, provides guidelines to assist individuals in reducing their debt. With many Americans looking for ways to counter rising prices, Watts advises that taking steps to address debt now will reduce payments later.
“There is no quick fix to getting out of debt,†says Watts. “Solving your debt dilemma requires
commitment and patience.â€
Watts offers the following eight tips to gain control of your finances and reduce debt:
1. Take control now – evaluate your financial records to determine your income and expenses.
2. Create a budget – based on your income and expenses, establish a plan that allows you to allocate money for all of your categories of spending. Try to eliminate any unnecessary costs.
3. Pay off your credit cards – paying down credit card debt will give you flexibility and allow you to free up cash for other items.
4. Reduce the number of credit cards you have – consider having only a few credit cards and make sure they have the lowest rate available.
5. Don’t take on additional debt – work toward paying down what you currently owe before adding any new debt. Avoid any unnecessary purchases.
6. Contact your creditors – speak directly to the companies to which you owe money. They may be willing to set up a payment schedule that will enable you to reduce monthly payments.
7. Ask credit counselors – assistance is available for little or no cost through government programs or credit counseling services, which will work with you to develop a long-term plan to pay off debt.
8. Stay vigilant – once you’ve reduced or paid off your balances, remember to guard against incurring debt again. If you lack self-discipline, consider phasing out credit cards and using debit cards or cash instead.
About W. Landon Watts:
W. Landon Watts specializes in wealth strategy solutions for individuals, corporations and institutions, focusing on retirement and insurance planning in both the non-profit and for-profit sectors. Watts joined Banyan Rock & Talent in 1997. He currently holds an Investment Company and Variable Contract license, as well as a Life and Health Insurance license. Though not a CPA, Watts and Banyan Rock & Talent wealth strategists work within specific legal parameters to indicate tax-advantage opportunities that clients along with their accountants can utilize. Watts understands everyone has different goals, risk tolerances and objectives; he enjoys customizing each portfolio for his clients. Watts received a Bachelor of Science degree from Appalachian State University in 1993. He is licensed to conduct business in Florida, North Carolina, South Carolina and Virginia. Visit www.LandonWatts.com for more information,
or call (919) 782-0033.
For more information on reducing credit card debt, call Watts at (919) 782-0030 or visit
www.LandonWatts.com.
Material discussed herewith is meant for general illustration and/or informational purposes only, please note that individual situations can vary. Therefore, the information should be relied upon when coordinated with individual professional advice.
Information discussed in this release is reproduced with permission of MFS and its Heritage Planning newsletter.
About Banyan Rock & Talent:
Based in Raleigh, Banyan Rock & Talent is a collaboration of registered reps with FSC Securities
Corporation. Founded in 1986 on the philosophy that strength, growth and the diversification of their client’s hard-earned money is made possible through knowledge, diligence and years of experience, Banyan Rock & Talent specializes in areas including stocks, bonds, mutual funds, variable annuities, retirement strategies, market timers, life insurance, disability insurance and applied real estate. All strategists are registered representatives offering securities through FSC Securities Corporation, a registered broker-dealer, and member of FINRA/SIPC. For further information visit 3356 Six Forks Road Raleigh, NC 27609, or call (919) 782-0033.
About AIG Advisor Group, Inc.:
The AIG Advisor Group, Inc. is among the largest independent Registered Representative networks in the United States and consists of Advantage Capital Corporation, AIG Financial Advisors, Inc., FSC Securities Corporation and Royal Alliance Associates, Inc. that are all members of FINRA & SIPC. These independent broker-dealers, with more than 7,000 independent financial professionals, are all wholly-owned subsidiaries of American International Group, Inc. (AIG). AIG Advisor Group is a marketing designation for certain broker-dealers, and investment advisers affiliated with American International Group, Inc.
Securities offered through FSC Securities Corporation, Member FINRA/SIPC. Banyan, Rock & Talent is not affiliated with FSC Securities Corporation or registered as a broker/dealer or investment advisor.
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