Personal Finance Counseling Expert Vonda Bowens Reveals Little-Known Financial Services Help to Improve Credit Rating and Escape Debt – Hyattsville, MD

Personal finance expert and founder at Life More Abundantly, LLC in Hyattsville, MD, Vonda Bowens, has just revealed little-known strategies to help eliminate debt. For more information please visit

In a recent interview, Vonda Bowens, founder and personal finance expert at Life More Abundantly, LLC in Hyattsville, MD, has just revealed little-known strategies to help eliminate debt and begin to create financial freedom.

For more information please visit

When asked to comment, she said, “My clients are often overwhelmed by the amount of money they owe, and they don’t have the tools to get themselves out of debt. My job is to provide these tools.”

1. Accelerate Debt Payoff

One way Bowens helps her clients is by making a debt elimination plan that “repositions money they already had” to quickly pay off debt.

When asked to elaborate, she said, “As part of the plan, I ask my clients to list their debts in ascending order from the lowest to the highest amount. Once they have paid off the smallest amount, then they can use that money to resolve the next debt on the list.”

“I also ask my clients to examine and categorize their spending habits by going through their debit card statements from the past couple of months. Normally, 90% of my clients are shocked to see how much money they are wasting on eating out, a portion of which they could use to pay down debt,” Bowens commented.

2. Rapidly Improve Credit Scores

One way that someone can boost their score is by understanding that credit scoring gives more importance to some things than others.

When asked to comment, Bowens said, “For example, understanding your credit card utilization rate is key. This is the ratio between the credit card balance and the available credit line.”

“If your balance is more than 30% of your available credit, then it brings your credit score down. For instance, if you have an available credit of $1,000, then a $300 balance will add points to your score while $500 will decrease your score, even if you have kept up to date with payments,” she said.

Another little known fact is to avoid paying credit card debt in full.

“My clients are always shocked to hear that paying off a balance in full actually hurts their credit score. Creditors want to see how you handle money over the long term, and they can only do this if you gradually pay off your balance,” she said.

3. Increase Cash Flow

Many people can minimize their tax liability and increase cash flow by reporting income they normally don’t claim on returns.

When asked to elaborate, Bowens said, “While this may seem counterintuitive, people who are earning extra cash such as renting a room in their house should state this as income on their tax return to help them create a loss.”

“We are able to do this by reporting allocated expenses such as electricity as a deductible expense and can also take advantage of an extra deduction called depreciation, which reduces taxable income in the majority of cases,” she said.


Contact Info:
Name: Vonda Bowens
Email: Send Email
Organization: Life More Abundantly, LLC
Address: 8181 Professional Place, #110f
Phone: (301) 603-3700

Release ID: 320021