Dear Sheila Jameson:
I have reviewed the facts from our meetings, and I think I have arrived at a plan that will help you realize your financial goals.
First, it's important that you realize that your debt is not that great. Only about 40 percent of your total income is paid in debt each month. Where I think you suffer the most is in your spending patterns. You make a large number of impulse purchases each month.
I have attached a budget sheet that I worked up for you. I suggest that you begin using it, and follow it closely. I also have added an area on that budget sheet for you to invest 20 percent of your monthly income in a mutual fund.
I suggest that you consider Easy Mutual Funds. This only requires you to have a small deposit up front. It will take an automatic monthly draft from your checking account. This company's mutual funds average an annual return of around 17 percent.
If you follow this budget closely and treat the 20 percent per month investment as a debt, you stand to make several thousand dollars in interest income each year.
I strongly suggest that you examine the documents enclosed, then make the necessary adjustments needed to put this budget into action. If you do, you will find that you are able to realize your financial goals much more quickly.
It has been a pleasure working with you. If you have any further questions, or if there is anything I can do to help you in the future, please don't hesitate to contact me.
"Written communication is extremely important," says Margaret Johnson. She is a credit counselor. "We write reports for clients daily."