Monday, August 15, 2016
Five Ways To Fix Your Finances
Having financial goals is a good idea because it allows you to plan for your future. No one likes to be hit with an unexpected medical bill or home repair cost they cannot pay, and it is even less desirable to find creative ways to come up with the money needed to pay for your everyday living expenses. But not all of us make enough money to set a large chunk aside each month to build up an emergency fund, so when lift throws a curveball it can be hard to find ways to stretch your paycheck. This cycle of being unable to pay your bills as they become due can quickly cause you unwanted stress and anxiety, but there are things you can do to fix your money problems for good.
Five ways to fix your finances include:
• Cutting back on certain expenses that are not needed, like a land line for your phone.
• Negotiating lower interest rates with your credit card lenders, which many are willing to do if you have a good pay history with them.
• Taking a second job in order to establish a savings account or to pay off an unexpected expense.
• Downsizing your home to something smaller with a lower payment.
• Consolidating your debt into one loan with only one payment per month.
Another option that will help you get your finances in order is to file for bankruptcy. Bankruptcy is helpful because it allows you to pay for only what you need while eliminating debt that is overly burdensome. When you are able to cut out some of your monthly payments you are able to save the money that was going to things like credit card bills or payday loans and this money can add up fast. By putting aside the money you used to spend on certain bills you can establish a savings account so when an emergency arises you don’t have to resort to a credit card or short term loan to cover the expense. Not having to pay higher rate bills also gives you the freedom to put money towards everyday expenses like groceries and utility bills without sacrificing payment on your house or car. We can help you get your money matters back on track; call us today to find out more.
If you have more questions about bankruptcy, contact us today at www.law-ri.com. We will help you come up with solutions that work for your family, and have multiple locations where we schedule appointments so you can make a choice that is convenient for you.