Right now we are all trying to tighten the belt in any way we can. The ripple effect has touches 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 Our attitudes of “spend now, more money is on the way” has been replaced by the thoughts of “How do I find the money to pay my bills?”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 too am feeling the 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.
You will be amazed how your confidence will grow by making these simple 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:Make a list of all your financial obligations and prioritize those in order of greatest impact to your credit. Here is strong example that by defaulting on your mortgage you can do very serious damage to your credit score. All mortgage related payments should be at the top of the list, make sure you get you property taxes are payed as well.
If you feel that you are going to be late on a payment call the collectors and explain your situation they will listen. 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.
Take advantage of loan deferment and forbearance opportunities. Make sure you are talking to your lenders they have programs to help you if you are willing to do the leg work. Do not risk being late on you payments because then your interest rates may increase and you are worse-off than before.Your insurance company’s will be happy to lower your premiums if they know they will loose you as a customer.
Many times you are paying for more insurance than you need. Call your service providers and cut back on unnecessary services.
One thing i did that is cool is i got the slower internet connection, to be honest with you I have not noticed a thing.