Ameritech Financial Helps Clients With a Budgetary Analysis to Jumpstart Student Loan Repayment Journey
ROHNERT PARK, Calif., April 10, 2018 /PRNewswire/ -- Discussions on personal finances often lead to one word that many people dread: budgeting. For many, the concept of budgeting means cutting back on fun or comforting expenses, like coffee or movies, and focusing on the uncomfortable, like student debt and other bills. While budgeting can be a chore, it can also help reduce financial stress and establish a plan for a healthy financial future. Ameritech Financial, a document preparation company that helps federal student loan borrowers with income-driven repayment plan applications, helps clients analyze their monthly spending and encourages all student loan borrowers to do the same.
"Knowing where your money is going can be very valuable in figuring out how to meet future financial goals," said Tom Knickerbocker, executive vice president of Ameritech Financial. "The value in budgeting for some may be in tracking every penny, but others may benefit simply from an overview as a starting point in making financial goals and plans."
Budgeting, like dieting, can be restrictive. Households that may prioritize non-essential purchases over essential expenses, like bills or debt payments, may need to budget in order to switch their priorities. Households that may feel short on money each month might find that one simple change can improve their ability to pay all their bills.
In a basic sense, budgeting simply requires individuals or households to list all income and all expenses, even ones that may vary each month. Any positive value left over can be applied in different ways, depending on financial goals. Those hoping to reduce their debt can put that extra money toward the debt. Those hoping to build an emergency fund or boost retirement savings can put that money toward those saving goals.
Federal student loan borrowers who feel that their monthly loan payment is too high relative to their budget may be able to reduce those payments through enrollment in a federal income-driven repayment plan (IDR). Such plans calculate payments based on income and family size and may end in forgiveness after 20 to 25 years of enrollment in the program. Any reduction in payment may free up funds to go toward other financial goals outlined in a budget.
"Budgeting can be tedious but it doesn't have to control anyone's life," said Knickerbocker. "At Ameritech Financial, we help each client with an initial budgetary analysis that gives them a financial snapshot. We talk about IDRs and how they can affect their personal finances through the lens of their budget analysis. And if they choose to pursue an IDR, we help them with the paperwork to make it as easy as possible to apply for a federal IDR program."
About Ameritech Financial
Ameritech Financial is a private company located in Rohnert Park, California. Ameritech Financial has already helped thousands of consumers with financial analysis and student loan document preparation to apply for federal student loan repayment programs offered through the Department of Education.
Ameritech Financial is a member of the Association for Student Loan Relief (AFSLR), and each representative on the phone has received the Certified Student Loan Professional certification through the International Association of Professional Debt Arbitrators (IAPDA).
Ameritech Financial prides itself on its exceptional customer service.
Contact
To learn more about Ameritech Financial, please contact:
Ameritech Financial
5789 State Farm Drive #265
Rohnert Park, CA 94928
1-800-792-8621
[email protected]
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