Saving Money to Invest * Lower debt Everyone has debt and most will always have some debt, however if you have outstanding credit card debt, then this may not be a good time to invest. Credit card debt can be consuming and best way to become financially stable and to create and atmosphere in which you are able to save money, you must pay off high interest rate credit cards. If you have more than two credit cards or your cards have reached maximum limit and you are making minimum payments then you should invest all extra money into paying off these debts before investing in other ways.

* Create Emergency Funds Everyone should have an emergency fund for unexpected debts or accidents. Financial advisors will recommend that you have at least three months of funds or 15% of annual income to fall back on in event that you lose your job or incur unexpected expenses.

Credit counseling is a program designed to help those who are in a state of debt and cannot find a solution to their debt problems. They offer services that will allow you to work with a certified credit counselor to devise a plan that is tailored to your specific needs and goals. Credit counseling agencies often provide services for free and will help to educate you about how to avoid financial problems in future by offering debt management classes or seminars. They do not erase your debt. Instead they work with you to budget money so that you can pay off debt often times by debt consolidation. Collection will continue while using a credit counselor, however, in most cases companies who are owed money will try and work with you to help you payoff your loans. Credit counseling services often help you to reestablish credit after loans are paid.