Primerica Presents Tips for a Healthy Financial Life

Primerica Financial Services
Press Release
December 1, 2008

According to the February 1, 2008 issue of Newsweek, the average household “owes 20 percent more than it makes each year.” With the current financial crisis, that percentage may even increase as families go deeper into debt just to maintain their lifestyles.

Primerica, a financial services industry leader, recognizes that education is the first step toward helping clients learn to develop a healthier financial life. Primerica believes a good understanding of how money works is key to long‑term success.

Avoid the revolving consumer debt trap.
Most credit card debt is revolving debt. Because of the way interest is calculated on revolving debt, it's hard for clients to know exactly how long it will take to pay off their balance. All that interest can add up to big bucks along the way.

With fixed debt, clients make payments over a set span of time. It's easy to tell when the principal will be paid off and – even with the same interest rate and monthly payments – the pay off date is usually much sooner than with revolving debt. Consolidating revolving debt into one fixed rate loan can potentially eliminate those debts sooner and reduce a client's monthly payment.

Understand compound interest.
With a revolving debt account, compound interest can eat away at a client's financial health. But when a client uses compound interest in their favor, it can really help savings grow. The more a client saves, the more interest they can potentially earn on that money.

Make a lifestyle change.
When it comes to reducing debt, little changes can make a big difference. By separating “wants” from “needs,” and making the “needs” the priority in spending, clients can begin saving toward their future.

Clients should also do periodic checkups with a financial services professional to make sure they are on track for their goals. Primerica, for example, offers a free Financial Needs Analysis that is designed to highlight problem areas and present strategies to deal with them. Visit Primerica Financial Needs Analysis to learn more about this complimentary service.


Arizona: Loans solicited by Limited Partners in Primerica Financial Services Home Mortgages Limited Partnership of Arizona (Primerica Financial Services Home Mortgages, Inc., General Partner. 6135 North 7th Street, Suite 201, Phoenix, AZ 85014. Mortgage Banker License No. BK 15594). Loans originated by Citicorp Trust Bank, fsb. California: Primerica Financial Services Home Mortgages, Inc. Loans arranged pursuant to a Department of Corporations, California Finance Lenders License. Connecticut: Primerica Financial Services Home Mortgages, Inc., MORTGAGE BROKER ONLY, NOT A MORTGAGE LENDER OR MORTGAGE CORRESPONDENT LENDER. Delaware: Primerica Financial Services Home Mortgages, Inc., (PFSHMI): A Delaware Licensed Mortgage Loan Broker. Florida: Licensed Florida Mortgage Broker/Representing: Primerica Financial Services Home Mortgages, Inc., Licensed Mortgage Brokerage Business. Georgia: Primerica Financial Services Home Mortgages, Inc. (PFSHMI), 3120 Breckinridge Blvd., Duluth, GA 30099: A Georgia Residential Mortgage Licensee, License #6078. Illinois: Primerica Financial Services Home Mortgages, Inc. (PFSHMI), 3120 Breckinridge Blvd., Duluth, GA 30099: Illinois Residential Mortgage Licensee. Citicorp Trust Bank, fsb, the lender, would provide the funds for these loans. Citicorp Trust Bank, fsb, not PFSHMI, is the entity which affects the availability of funds. Interest rates or charges for loans are in no way recommended, approved, set or established by the State of Illinois. Kansas: Kansas Licensed Mortgage Company. Primerica Financial Services Home Mortgages, Inc. 3120 Breckinridge Blvd., Duluth, GA 30099. License No. 96-209. Kentucky: Representing Primerica Financial Services Home Mortgages, Inc., 3120 Breckinridge Blvd, Duluth, Georgia 30099. EQUAL HOUSING OPPORTUNITY. Maine: Primerica Financial Services Home Mortgages, Inc., Loan Broker License #CSO07173. Massachusetts: Primerica Financial Services Home Mortgages, Inc., Massachusetts Mortgage Broker License Number MB 0056. Minnesota: Representing: Primerica Financial Services Home Mortgages, Inc., Minnesota Residential Mortgage Originator. Missouri: Primerica Financial Services Home Mortgages, Inc. (PFSHMI): A Residential Mortgage Licensee. Montana: Primerica Financial Services Home Mortgages, Inc., 3120 Breckinridge Blvd., Duluth, GA 30099, license number 000381. Nebraska: Primerica Financial Services Home Mortgages, Inc. (PFSHMI): Licensed as a Mortgage Banker. Nevada: Primerica Financial Services Home Mortgages, Inc., 9055 West Post Road, Las Vegas, NV 89148; 702-870-3200. New Hampshire: Licensed by the New Hampshire Banking Department. New Hampshire Mortgage Broker License Number 5367-MBR. New Jersey: Primerica Financial Services Home Mortgages, Inc. (PFSHMI), 3120 Breckinridge Blvd., Duluth, GA 30099-0001, (770) 381-1000: Licensee, New Jersey Licensed Lenders Act, Licensed Mortgage Banker, Licensed by the New Jersey Department of Banking and Insurance (Certain Locations). PFSHMI does not make any mortgage loan commitments or fund any mortgage loans. PFSHMI arranges loans with 3rd party providers. (1st/2nd) Citicorp Trust Bank, fsb, the lender, would provide the funds for these FIRST OR SECONDARY MORTGAGE LOANS. New York: Representing Primerica Financial Services Home Mortgages, Inc. New York State Banking Department, 3rd Party Mortgages arranged, Registered Mortgage Broker. North Carolina: Loans solicited by Representatives of Primerica Financial Services Home Mortgages, Inc. Oregon: Primerica Financial Services Home Mortgages, Inc. (PFSHMI), License Number: ML-131. Pennsylvania: PFSHMI - Licensed by the Pennsylvania Department of Banking as a Partially Exempt First Mortgage Broker. Licensed as a Secondary Mortgage Loan Broker. Rhode Island: PFSHMI: A Rhode Island loan broker licensee. Texas: Primerica Financial Services Home Mortgages, Inc., Financial Services Company #71355, 3120 Breckinridge Blvd., Duluth, Georgia 30099-0001, 770-381-1000. Virginia: Primerica Financial Services Home Mortgages, Inc., Licensed as a Mortgage Broker by the Virginia State Corporation Commission, License #MB-1504. Washington: Washington Mortgage Broker Practices Act Licensee. This document is not intended as an offer to extend credit nor a commitment to lend. The loan interest rates, fees, and terms presented herein are for illustrative purposes only and may not be currently available. This document has been prepared to assist real estate professionals in illustrating some of the financing options available to consumers.

Lenders and Primerica Financial Services Home Mortgages, Inc. are affiliated companies of Citigroup. Loans secured by residential real estate. Loans secured by residential real estate are made by Citicorp Trust Bank, fsb. Unsecured loans made by Primerica affiliates Citibank, N.A., Citibank, F.S.B., Citibank (West) FSB, and Citibank Texas, N.A., Equal Housing Lenders. All loans subject to credit approval. Not available in all states.EQUAL HOUSING OPPORTUNITY.