Changing The Way You Think About Your Money
These are the times that everyone is beginning to feel a tightening. The ripple effect has touched us all now in some way. Our attitudes of “spend now, more money is on the way” has been replaced by the thoughts of “How do I find the money to pay my bills?” For many people this shift is a reason for great distress.
I have been one of those people who have felt the heavy weight of financial burden. I continue to feel the pinch, but I am starting to see signs of hope. Hope that is not only coming from the government and Wall Street, but hope that is coming with increasing confidence that I will get through this hard time.
I have found great confidence through making small changes. I would like to share a few things I have done that have made a big difference in both my quality of life and my budget’s bottom line.
If you are falling behind on your bills:
1) Make a list of all your financial obligations and prioritize those in order of greatest impact to your credit. For example, defaulting on your mortgage is one of the worst things you can do to your credit score. So, mortgage payment should be on the top of your list (along with property taxes and other mortgage related payments).
2) Before you become late on your payments, call your bill collector and explain your situation. THEY WANT TO HELP YOU! The water company does not want you to be without water, the electric company does not want you to be without heat.
3) Take advantage of loan deferment and forbearance opportunities. Lenders do have programs in place to get you through these times. Do not risk being late on your payments because then your interest rates may increase and you are worse-off than before.
4) Call your insurance companies and ask for lower premiums. Many times you are paying for more insurance than you need.
5) Call your service providers and cut back on unnecessary services. I cut my internet bill in half by getting a “slower” connection, but I have not even noticed the difference.
6) Stick to your budget.
Let’s have a conversation if you have some questions or if you would like to learn more.
Visit: http://www.whattoinvestinnow.com
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