Chances are, even if you have recently been given an increase in your hourly rate or base salary, you are still having a hard time making ends meet. This is because the economy is not at its best right now, and there are too many to count who have either lost their job or been forced to take a position that pays less than their full earning capacity. It can be stressful to see more money going out the door every month than is coming in, and when that happens you have to find ways to stretch your dollar. It can be hard, but if you are able to come up with a budget that works you will find that not only are you able to meet your obligations but you may even be able to put some money aside for a rainy day.
One way to free up some extra cash and focus on paying the debts that matter most, like your secured loans for your house and car, is to seek the protection offered by bankruptcy. You have choices when it comes to filing bankruptcy, and can opt for either a liquidation type of case or a debt consolidation. There are requirements that must first be met, and if you are not happy with the option that fits the facts of your case after having your circumstances reviewed, you can start to look for ways to cut back and save. Three tips for coming up with a budget that makes your ends meet include:
- Negotiating lower interest rates on high rate credit cards. Many credit card lenders will work with you to lower your interest rate, which means a lower monthly payment. If your lender is unwilling to talk to you about a lower rate, you should eek the assistance of debt management attorney. A qualified attorney will work with your lenders for you and work towards results that mean lower payments for you and a chance to clean up your credit.
- Cutting out extras, or at least scaling back on items considered luxuries. Taking your lunch to work rather than buying every day (or even just every other day) will help you to save on your monthly expenses.
- Shopping around for the best rates and fees on things like auto insurance and cell phone service.
If you have exhausted your options to get creative with your budget, you do still have options. Call our office today to find out what will work for you.
For more information about budgets and debt management, contact us at www.DsouzaLegalGroup.com. We will help by coming up with solutions that work for you.