Top Tips For Budgets That Work

In today’s economy it is possible to receive a raise or bonus but still have problems making ends meet. Right now, the economic and political climates are such that even if you have more money at your disposal you can struggle to pay all of your bills on time. In order to reverse this problem it is necessary to cut expenses and come up with a budget that is more in line with your take home pay. This can be a hard thing to do, but if you are successful in identifying areas where you can eliminate expenses you will be able to not only pay your bills but might also have some left over to save for a rainy day. The feeling of financial security that is created when you are able to come up with and stick to a budget that works is immeasurable. But, most people need a little help when it comes to developing a budget, and sometimes calling on the assistance of a trained professional is your best shot at getting to a bottom line that makes sense. 

One way to have some extra money to pay for the things you rely on the most to get to and from work, like your cars, is to eliminate payments on credit cards. When you don’t have to make high monthly payments that are only going towards interest anyway, you are able to save that money and pay for your car or even house. But if you don’t make enough money to pay off your credit cards each month and the payments are really dragging you down, bankruptcy is an option. Once you have eliminated unsecured debt like credit cards and signature loans, you can rework your budget into something that is manageable. Three tips to developing a budget you can stick to include:

●          Eliminating unnecessary expenses like land lines for your phone, or cutting back on the number of movie channels included in your television package.

●          Taking your lunch to work instead of eating out, even if you only make this change a few days a week.

●          Shopping around for the best rates on car and house insurance. You would be surprised at how quickly your money adds up when you pay less every month for insurance, and you don’t have to compromise the level of coverage or quality of service to find lower rates. The insurance industry is a competitive market, with options for nearly every budget.

When you combine these things with taking advantage of the bankruptcy laws, put in place to help distressed borrowers, the result is powerful. For help taking control of your life and your money, call us today.

For more information bankruptcy and budgets, call us today or reach us online at www.law-ri.com. We have multiple locations to serve you and can schedule a time to meet at the office most convenient for you.