Make a list of where your money goes each month. Some common items can include:

• Mortgage or rent payment
• Food- groceries, snacks, restaurants
• Cars- loans, gas, maintenance
• Church, charities, organizations
• Medical & dental care
• Knick knacks, etc.

Now put an average dollars spent with each category. Which is your highest? Where can you cut costs if necessary? I hope it doesn’t show that your values are all about you. Invest in other both time and money. Someday you will need help from others. Ask yourself the question- If someone were to see my expenses without taking with me, would that reflect what I want them to think about me?

This can also reveal if you can manage your money (or moving deeper into debt). Do you have a plan to get out of debt? Here are a few things to looks at to reduce expenses, increase income and help with debt:

• Try to make a little more money at your job. Hourly wage earners ask to work a few more hours. Salary personnel should ask their supervisor how they can move up the ranks to earn more.
• Get a second job. Be careful with your time, don’t let this take away from your relationship and quality time with your family.
• What can you get rid of? Sell it on Ebay, Craigslist, at a yard sale. This generates a little income and can clear a little clutter in your house.
• How many cars do you need? Family of two adults and 2-3 kids; do you really need three cars? Sell the extra one to save on the monthly payment, insurance and maintenance.
• Wait for the movie to come out on video. Renting it ($4, someplaces $1) versus in the theatre with popcorn for two adults ($25-$30 plus babysitter).
• What about your favorite possession- TV. What channels do you normally watch? Can you get by with the basic package instead of the Digital Premium Pack? (I have a bunny ears antenna that I bought for $30 a couple of years ago. We get the main networks and thats all we need.) If you miss a show, now most of them are available for online viewing for free, at least for the major networks.
• Learn an in demand hobby or skill. Then sell your services as a freelancer locally or sites like Elance or Guru.com.
• Cook dinner at home more instead of going out to eat.
• What can you do without for a few months?
• Do you have any reoccurring monthly bills/charges that aren’t needed?

For more tips check out: http://www.danburrell.com/?p=502

Improve your finances and let it speak your real values,
Sam Carrara

SC Marketing Education

Upgrade your grill- Grill to the Max at:GrillAce.com

Copyright by Sam Carrara’s Marketing Education

http://www.somewhereoverthedebt.com/managing-debt-and-finance-tips/pay-off-your-credit-card-debt-faster/

Get Out of Debt,
Sam Carrara

SC Marketing Education

Upgrade your grill- Grill to the Max at:GrillAce.com

Copyright by Sam Carrara’s Marketing Education

Here we go… Part 2

Now that you’ve listed out your debt… You did do that right? Which debts do you pay off first? Here are two things to keep in mind:

• Pay off small debts- Pay off the smallest one and then move on to successive ones. This gives you a sense of accomplishment by being able to mark debts off your list.
• Pay off higher interest rate debts- Start with the highest interest rate debt before lower ones.

Let’s make an example chart of debts:

 Which has the lowest amount due?

 Credit Card

 Which has the highest interest rate?

 Credit Card

So for this example it’s simple. Work to pay off the Credit Card first.

Knock the Debt Down,
Sam Carrara

SC Marketing Education

Upgrade your grill- Grill to the Max at:GrillAce.com

Copyright by Sam Carrara’s Marketing Education

 What is your personal debt? Oh, not much. Let’s list a few areas out…

• Credit Cards
• Mortgage (1st, 2nd and 3rd loans)
• Installment Loans (Vaccuum cleaners, furniture, pets, etc.)
• School (College, Private School for kids, etc.)
• Wedding
• Travel/Vacations

Yes, once again Sam has a depressing post. (Some of those items above are real experiences & life lessons I’ve dealt with, or still dealing with.) Let’s be real, we all have debt. Does it control you? Are you a slave to it?

Don’t you just love the bumper sticker- "I owe, I owe, it’s off to work I go."

So what to do about it? Write down all your debts.

As an example: 

Do that first then we can determine which to pay off first… (for another post)

To get more answers now, check out the book I’m reading- Your Money Counts  Specifically chapters five and six.

Let’s Get Out of Debt,
Sam Carrara

SC Marketing Education

Upgrade your grill- Grill to the Max at:GrillAce.com

Copyright by Sam Carrara’s Marketing Education