Are you wondering why you’re always in debt? Or, trying to save more money but don’t know how? One of the biggest challenges families today are having is trying to figure out more ways to get all those frustrating bills down. Making it more complicated to save and invest for future goals. There is always room for improvement when it comes to our finances. Here are some helpful tips for you to gain financial success during this weak economy.
Do you know your total monthly income?
More than likely if you are feeling financially unsuccessful, then you probably have not been paying much attention to your money. The first step in getting those bills lowered is get your finances organized and figure out how much income you are bringing in monthly from all sources. Then take this opportunity to add up all your monthly expenses. Don’t leave out anything. The goal here is to spend less and save more by taking control of your finances and making a effort to start identifying all of your expenses whether you feel they are necessary or not. Every penny you spend counts.
Once you have identified your monthly expenses, you can now separate into two categories, the bills that matters and the ones you can live without. The expenses that matters should be anything from mortgage, utilities, car note/insurance, and cable/Internet to phone bill. Even these can be cut down by negotiating with the companies you are serviced with to help lower your bills. When you are dealing with any company, it is vital for you to be in the know about all special, deals and offers available.
Contact your service providers and cut back on the things you really can do without. For example, most people have cell phones with the most expensive data plans, or cable packages with extensive channels that is barely being watched. Usually when a customer history is in good standing with the company, they will be more than willing to work with you.
Find out if you’re with the right company. Everybody has competition, so if you are not satisfied with your provider’s rate then contact their competitors to see what they have to offer.
Start using coupons and eliminating the extra expenses such as, online movie rentals, magazines subscriptions, dining out and other entertainment that is costing you money you don’t have.