Tips for Finding Extra Money Each Month!

If you're like most people, paying all the bills each month is very difficult!

debt-bankruptcy-credit

If you are barely making ends meet, you might try these tips on how to find extra money each month.

The first step in finding extra money each month is to complete a buget.  You need to be very honest with yourself and list everything you are spending money for each month.

Yes, even Starbucks!

Now that you know where you stand, financially, it's time to go to work to see where cuts can be made.

Let's start with you credit card bill or bills.

I know you don't want to hear this, but STOP BUYING THINGS ON CREDIT!  I know the rationalization, but if you really want to cut your budget, you cannot justify an extra $10 here and $10 there.  It all adds up...way too much!

If you have credit cards with interest rates of 20% or more, you should be able to get them lowered.

Call the credit card company.  The number will be on your bill. 

When you get the representative on the line, tell them that you must cut your rates and need them to lower yours.  If they refuse or say that they can't, tell them (nice way of threatening) them that then you will have to shop around for another creditor to transfer your balance to.

Don't give up!  The credit card industry can modify the rates.  Obviously, they want to charge as much as possible, so they train their representative to be tough, but YOU HAVE TO BE TOUGHER!

By the way, if you have too much credit card debt and are not able to keep up with the monthly payments, there are several option that may help.

 


What about that CABLE BILL?

If your not careful, your cable company may slowly raise your bill.

We have a cable company (I won't use their name, but they are BIG!) and have the bundled package (cable, phone, internet, etc.).  Our monthly bill is usually about $200. Last month, the bill was $260! That's almost a 30% increase!  WHY????

We called the company and was connected to a customer service representative.  She said that there was nothing she could do about it, that it was just a "normal" rate increase.

So, we asked to be transferred to the LOYALTY OR CUSTOMER RENTION DEPARTMENT.

Since we had been "loyal customers for so many years...", they said they would not increase our bill!  Again, you have to be tough and don't give up!

Utility Bills

It seems that utility companies can get away with raising rates anytime they want to!  I know there is some kind of "government application process" each utility company must go through, but when is the last time you saw your rates lowered?

So here's a few tips you can use to cut those utility bills:

Your Heating Bill

We'll talk about how to cut your ELECTRIC or GAS bill later, but first, when is the last time you checked your home for air leaks or drafts?

Yes, you could call a company that does this, but not only will it cost you, most likely they are going to recommend replacing or updating your equipment!

Check all of your windows by feeling for cold drafts of air.  If you feel a little cold air, that means that your warm air is most likely going out!

You can get several types of sealers or caulking for windows and doors at your local home improvement store.  If your not sure which one you should use, most of the sales reps can help.

What about your old ELECTRIC OR GAS FURNACE?

I'm a do-it-yourself guy, and each time I go into one of our local home improvement stores, there's a sales person trying to get me to "upgrade" my furnance.

Yes, mine is an older model, and yes, the new ones are much more efficient, but I'm having a hard time justifying spend $4,000 - $5,000 to save $30 -$50 on my electric or gas bill!

I know there are government programs that may give me a credit, but I know that by just checking all of my windows, doors, under the sink, etc., I can save a lot of money, and you can too!

WATER BILL

Check for leaks!  Just a little faucet drip can end up costing a lot of extra money on your water bill.

Not just the faucets, but check those toilets!  If you hear them continuing to run, $$$$ down the drain.

Once again, you should have to call a plumber, but can get great do-it-yourself help online or at your local home improvement store.

 

INSURANCE RATES

I know you have seen the ads on TV about saving up to 15% on you car insurance, but have you compared your current policies?

Get out your insurance bill (car, home, other) and go on line to compare. I'm not advocating reducing a lot of coverage to save money, but you may not need all of the "extras" you have been paying for.

If you are paying for your own HEALTH INSURANCE, it's time to check it out.  Most health insurancd premiums can be dramatically reduced by electing to increase your deductible and/or co-pay.

These are just a few tips on how to find extra money each month, and you may discover more!

What if by just following a few of these suggestions, you could find an extra $50, $100 or more each month?  Is it worth it...you bet it is!  Good luck!





 

 

 



 


 

 

Tags: money makeover for the new year, credit card, budget

Credit Card Debt...HELP!

If you are overwhelmed by too much credit card debt, we can help!

Many people find themselves drowning in credit card debt and other unsecured debts, but don't know what to do about it?

We get calls daily asking for advice from people who have too much credit card debt in Portland, Oregon (where our office is).

Maybe you find yourself in this situation and have considered:

  • Debt Management,Consolidation or Credit Counseling
  • Debt Settlement
  • Bankruptcy

There are many factors that should be considered before deciding on which program or debt solution would be appropriate for you:

Are you still working or have you retired?

Is you primary source of income from Retirement Sources?

  • Social Security
  • Pension
  • 401(K)

If unemployed, what are the realistic chances that you will find a job within the next 3 months or so and if so, will you be earning the same as before or less?

Let's discus the first option, DEBT MANAGEMENT.

Debt Management is the term used today can also be referred to as "Debt Consolidation" or "Credit Counseling".

In a Debt Management Program, you most likely will have several credit cards or other unsecured accounts and you are making the minimum payments, but the interest rates and fees are making it almost impossible to pay off these debts within 15-20 years!

In a Debt Management Program, you will get credit card debt help as you will have:

  • ONE MONTHLY PAYMENT
  • LOWER INTEREST RATES
  • MOST FEES ARE FORGIVEN
  • A TARGET OF 48-60 MONTHS TO BE DEBT FREE!

How will this affect your credit score?

Your credit score is deteremined by several factors. Here are a few:

  • How much debt to income you have (debt/income ratio).
  • How much debt you have taken on compared to the available credit you have.
  • Your payment history.
  • Types of credit accounts you have.

You must realize that having too much credit is usually the main reason your credit score is low.

Any program that helps ELIMINATE DEBT, will ultimately help improve your credit score!

If after a thorough FINANCIAL CONSULTATION, it is obvious that you cannot afford a Debt Management Program, then may qualify for a Debt Settlement Program.

In a Debt Settlement Program, you will have ONE MONTHLY PAYMENT that is designed to fit your budget.

It is usually much lower than what would be required of a Debt Management Program's payment.

In a Debt Settlement Program, your accounts WILL NOT be getting a monthly payment.

Most people who choose Debt Settlement over Debt Management, have had a severe financial hardship or have had accounts that have been charged off or are severely delinquent.

Debt collectors are calling constantly.

STOP Collection Calls Free Sample Letter

In a Debt Settlement Program, a trained debt negotiator will arranage a reduced payoff of that account.

Once settled, the company or creditor will report it to the credit reporting agencies as "paid as agreed" or "settled as agreed" or in some cases, "paid in full" or "settled in full".

Now your credit report will show a $0  balance and your credit will slowly improve as your debts are paid!

Finally, after examining your first two options, you may be forced to seek BANKRUPTCY for protection from your creditors.

There are basically two forms of BANKRUPTCY available to most consumers:

Chapter 7 or Chapter 13 bankruptcy

Before considering bankruptcy, you should consult a Bankruptcy Attorney.

Look for a local bankruptcy attorney who specializes in bankruptcy.  Many law firms try to be a "one stop fits all" firm and that is not for you!

Click here for a FREE, NO-OBLIGATION CONSULTATION.

WE CAN HELP!

 

 


 



Tags: credit card, credit card debt relief portland oregon, credit card debt relief oregon, credit card debt help portland or, credit card debt help