Free Debt Management & Bankruptcy Articles

Professional Authors - Professional Articles

Drowning Under Bills? Get You Finances Under Control With These Tips!

Are you feeling like you are drowning under all of the bills that you have like your credit cards, your car loan, house payment and a variety of other things that you simply didn't think would get you to where you find yourself right now? Most people do have some sort of debts but there are those though that feel that they are so overwhelmed by it that they might have to consider bankruptcy or debt consolidation because there is nothing else they can do. Before doing that, you should try and get your finances back in order on your own if you can.

First thing you need to do is to sit down and assess your financial situation. You need to face your debt problem head on. Sure you are aware of how much you pay each month on each bill but have you sat down and added up all of the total balances that you owe? If not, then you need to do so. As daunting of a task you think this might be, you need to take all of your debts and add each and ever one of them together to see just how much your really owe all of the creditors out there.

Now that you have the grand total of what you owe everyone, you are going to need to set up a budget. This is going to help you figure out whether or not you are going to be able to afford to repay everything that you owe. So the first thing you will need to do is to keep track of every thing that you spend. You not only need to have the total for debts owed but other spending as well and this should include your utilities, your insurance, how much is spent of food, etc. After you have all of this, add it to your debt total and then subtract that total for the total amount of money that you make each month. This is going to show you how much money you have left, if any after you pay all of these debts and bills. If it turns out that you are spending more than you make you are going to have to come up with a quick solution to solve this problem.

If it turns out that you are spending more than you earn each month then you are going to have to try to figure out what expenses you can cut down on or get rid of altogether. For instance, do you really need that cable bill? Not if you are in the negative each month, so get rid of it. If you can't get rid of your Internet, you should at least downgrade to a slower service in order to save money. Stop going out to eat as much or just stop altogether until you have your finances in check. Anything you can do to save money is going to help.

Try to figure out a way to earn more money. You might want to consider looking into getting yourself a part time job. Even just a few hours a week is going to work wonders on you ability to pay your bills and get caught up on them. However, when you do look for a part time job, make sure that it is one that is close to home so that you don't waste money on gas.

Make a list of all of your debts and make sure that the debt you owe the most on and has the highest interest rate is the one that you put at the top of your list. Then pay just the minimum amount required on all of your bills and combine the money you save by doing that with the extra income that you are getting from the part time job and use that to pay on that one bill at the top of your list. The sooner you get rid of that one, the better off all of your finances are going to be.

Post has no comments.
Post a Comment

Captcha Image

receipt credit company payment behavior debt company younger children overcharging negotiate cancer ongoing bills common debt traps credit checks checks stop harassment loan agents borrower financial education worksheet seperate accounts illness saving extra payments loan companies rebuild good credit home equity handling money charitable organisation credit card debt short sale debts credit line installment plans interest rates budget categories injury purchases visualization income extra money regain control saving money sickness ill health debt collectors modified payment plan software taking responsibility spend money debt programs down payment good credit rating medical bill financial security account charges family assistance credit scores payday loan home debts savings gambling problem household items monthly budget debt relief agency common debt check card credit repair tracking money insurance school jobs credit cards phone calls monthly payment utility payments learning experience credit card traps budget sheet repay lending companies loss of income specific budget categories account interest cash medical bills good credit negotiation management advice hobbies back support bank accounts debt management mistakes introductory offers house loan reduce debts whole family understanding credit reports liability great budget ideas debt unreasonable expectations credit history fly-by-night credit good debt debt settlement teaching children finance tax info lose your job paycheck info internet help debt traps debt collection agency loan amount making payments unsecured loan Consolidation Company overbearing bills legal action creditors security bills social services debt relief bankruptcy salary paying out debt part time job credit limit money insurances honesty children budget deb consolidation job loss repay loans finances less money original creditor interest rate interest expenses debt solution gambling debts unemployed credit bureaus debt management advice building debts children saving high interest rate more income management tips great budget domestic support investing comfortable living purchase protection family budget credit report debit card monthly bill good credit record savings account your rights pay off bill own money candidate pay off debt mortgages payday loan companies filing bankruptcy past bad debt court appearance second job repayment plans restrict spending bad financial decisions invest money assets total balance initial research government assistance need money paycheck bank debt consolidation medical debt debt problems car loan interest payments rent payments losing your job secured loan loan harassment trusted friends doctors personal finances child support credit card companies credit rating implement a budget flat broke debt consolidation order report borrow money careful handling spending allowance full details credit card company good budget credit companies Chapter 13 get out of debt lending company budgeting classify bills bad debt unexpected expenses professional managing debt checking account payment frequency live within means save money installment plan hospital consumer lawyer management program debt collector help help with debt debt management overspending borrowing credit card help become free control spending understanding home equity buying a house debt free loan debt management tips new job child support debt prioritizing child spending piling debts telephone bills losing a job paying bills education budget ideas bad debt management budget chapter 7 cable bill low interest discounts credit accounts take control of debt debt consolidation loans emergency savings account home equity loans mortgage payments asset info credit card live your life account fees cash card personal finance debt payment period monthly payments loans credit score groceries deals in writing

Copyright 2016 - Free Info Site Enterprises
Privacy Policy  |  Copyright Policy  |  Website Use Policy  |  Non Endorsement Policy  |  Contact Us  

Finance Blogs
best blogs