Reasons To Consolidate

Stop Collection Calls
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Foreclosure Facts
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Debt Consolidation Guide
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Types of Debt Relief
Tips To Reduce Debt
Understanding Tax Debt
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Debt Negotiation Letter
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How Debt Consolidation Affects Credit
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The Debt Snowball
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Medical Debt Guide
Seniors in Debt
How to Keep Your Job
What if You Don't Pay Bills
Wage Garnishment
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Get Out of Debt
Bad Credit Personal Loan
Life After Bankruptcy


Basics for spending wisely

Whether you’re buying lunch or buying a house, learn how to save more of your money for yourself.

Start small

Every day, you probably buy something that you may want but that you don’t necessarily need. That pack of gum you just bought at the corner store, that can of soda that you bought on your way back home or that bike that you saw in the store and just had to have right away? Those are all examples of impulse buys. While they may not necessarily break the bank, they are good examples of things that you could cut out of your life in order to see more money in your bank account. If you want to spend money wisely, you must understand that every penny you spend will affect your overall financial well-being.

Think big!

At first, it may be hard to cut many of the small purchases out of your life, especially the ones that you have grown accustomed to over time. However, you must think big picture in these situations. If you were to make your lunch every day instead of buying it at the store, you would probably only save a dollar or two a day. But by putting that into perspective and understanding that those savings would translate into hundreds of dollars per year, you could be saving yourself enough to make some of the larger purchases that you want in your life. Think about it: What could you do with a few extra dollars? You might be able to, say, move into a bigger place or even buy your own place outright. Sure, you can’t do all of this with a hundred dollars, but it’s a start. And there are plenty of other places in your budget to make changes in order to save money.

Creating your own budget

Speaking of a budget, do you currently keep a journal, diary or some sort of documentation that keeps track of what you spend every month and how you spend it? Chances are you keep something on record but you could probably be doing an even better job. Every month (or week or even day if you want to maximize the results of a budget!), write down how much money you spend, where you spend it, what you spend it on, and how it affects your overall lifestyle. You could quickly realize that you are spending much of your money of products, services and things that you just do not need in your life. You could also see that you could be consolidating some of your payments, maybe even consolidating your credit cards or loan payments, to actually save even more money. By keeping an accurate and current budget, you will enable yourself to save money in both the short and the long-term. Try it today and spending your money wisely immediately.

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