How To Get on Top of Family Finances Before They Get On Top Of You We've all done it - spent time being careful with money and then one month felt like a splurge as a treat. Suddenly we feel guilty and become too afraid to even look at our bank balance. In 2017 the average American family held credit card debt of $8,377 - a daunting amount that could become overwhelming and sometimes spiral out of control. However, help is at hand; with the right guidance and a bit of careful planning, it can be easy, and even feel like an exciting new challenge to get back on top of your finances again. Check your bank balance First things first, you must face the music and check your bank balance. This is the only way to begin with improving your financial situation and avoiding it, will only make things worse. If you find that you have become significantly overdrawn, consider taking out a loan to pay off your overdraft, as loan interest can often be lower. You can check your eligibility for a loan by using a free credit report online. Work out your income Secondly, work out your current household income. This will give you a marker for what you have to spend each month. Using an online budget planner can make this easier and can be adjusted, if necessary when needed. Calculate your outgoings Working out your current outgoings will enable you to see if each month you are in the red or the black, and help you to work out if you need to make cutbacks, or if you have extra money in order to pay off that debt. Your current outgoings should include everything you spend in a usual month such as: Bills, including water, electric and gas, your phone bill and any television packages; groceries, including food, toiletries and cleaning products; travel expenses such as petrol or train fares. If you have debts such as loans and credit cards included in your outgoings, you can often consolidate these into one loan at a lower interest rate, which could significantly reduce your monthly outgoings. Cutting back on luxuries Decide from your outgoings which things are absolutely necessary and consider trying own brand options from the supermarket rather than the named brand for food, toiletries and cleaning products. There is often not much difference in quality, but the difference in price can really add up. Also think about how much you spend on eating out as another way to curb your spending. In 2015 the average American family annual spend on eating out and take-outs came in at a massive $3,008 which if budgeted for carefully could save a huge amount of money each month to put towards paying off debts. Once you have worked out the things that are absolutely necessary and those that are luxury items you may find that you can add a couple of those luxuries back in and still have enough disposable income and money to pay off your debt slowly. Most importantly, to stay on top of your finances, keep checking your bank balance regularly and ensure you plan your budget carefully on a month to month basis.
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How To Get on Top of Family Finances Before They Get On Top Of You We've all done it - spent time being careful with money and then one month felt like a splurge as a treat. Suddenly we feel guilty and become too afraid to even look at our bank balance. In 2017 the average American family held credit card debt of $8,377 - a daunting amount that could become overwhelming and sometimes spiral out of control. However, help is at hand; with the right guidance and a bit of careful planning, it can be easy, and even feel like an exciting new challenge to get back on top of your finances again. Check your bank balance First things first, you must face the music and check your bank balance. This is the only way to begin with improving your financial situation and avoiding it, will only make things worse. If you find that you have become significantly overdrawn, consider taking out a loan to pay off your overdraft, as loan interest can often be lower. You can check your eligibility for a loan by using a free credit report online. Work out your income Secondly, work out your current household income. This will give you a marker for what you have to spend each month. Using an online budget planner can make this easier and can be adjusted, if necessary when needed. Calculate your outgoings Working out your current outgoings will enable you to see if each month you are in the red or the black, and help you to work out if you need to make cutbacks, or if you have extra money in order to pay off that debt. Your current outgoings should include everything you spend in a usual month such as: Bills, including water, electric and gas, your phone bill and any television packages; groceries, including food, toiletries and cleaning products; travel expenses such as petrol or train fares. If you have debts such as loans and credit cards included in your outgoings, you can often consolidate these into one loan at a lower interest rate, which could significantly reduce your monthly outgoings. Cutting back on luxuries Decide from your outgoings which things are absolutely necessary and consider trying own brand options from the supermarket rather than the named brand for food, toiletries and cleaning products. There is often not much difference in quality, but the difference in price can really add up. Also think about how much you spend on eating out as another way to curb your spending. In 2015 the average American family annual spend on eating out and take-outs came in at a massive $3,008 which if budgeted for carefully could save a huge amount of money each month to put towards paying off debts. Once you have worked out the things that are absolutely necessary and those that are luxury items you may find that you can add a couple of those luxuries back in and still have enough disposable income and money to pay off your debt slowly. Most importantly, to stay on top of your finances, keep checking your bank balance regularly and ensure you plan your budget carefully on a month to month basis.
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GON = Get Organized Now!  Over 20 Million Fans! Since 1997 over 20 million people’s lives have been positively impacted by the simple, life-changing, organizing solutions taught by Maria Gracia in her speeches, articles, websites, videos, interviews, books, social media posts, and in her highly praised, GON in Five Minutes!  newsletter. Click Here to Discover How Maria’s ‘Repetitive Reminders’ Can Help You Become More Organized . . . Automatically! “Maria, your newsletter is the ONLY organizing newsletter I ever read…I just love it! I’m more organized than I’ve ever been! Your newsletter keeps me on track!” -- C. Lewis Click Here if You Want the Best Organizing Advice Ever -- for FREE! 4 FREE Bonuses!
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