Ways To Manage Your Money & Bills

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If you have been feeling the pinch lately then you are not alone with this. There are hundreds of families that have been struggling with the rising cost of living. The problem is, wages are not rising with the cost of food and bills. The good news is there are things you can do to better manage your money and your bills each month. Take a look below for more information and guidance. 

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Save Where Possible

Saving may seem impossible at the moment but that may be because you are thinking of big numbers. It doesn’t matter how much you are saving, as long as you are putting something away. It all adds up, so what you may think is a small amount now, won’t be in around six months. You may have heard of the yearly penny challenge, this is an easy way of saving over $650 a year. This may not seem like a lot, but with Christmas and birthdays, it might be helpful. If you are unsure of how it works, let’s explain it. On day one you put away 0.01 and so on and so on, so on day 362, you would put $3.62 away. 

Use Extra Credit

If you are short on something or have an unexpected bill that needs to be paid then you may need to apply for a loan. If you want to be successful with your application then you will need to ensure you have a good credit rating. A bad credit rating means you are not a safe lending option and you are more likely to see unapproved on the screen. You may be wondering how personal loans are calculated, this is all to do with how much you borrow and for how long. The longer you take to pay the loan, the higher the amount of interest you will pay. 

Think About Interest

Speaking of interest, make sure that you know how much interest you will be paying if you find yourself borrowing money. If you have an unhealthy credit score then you may find that you pay more interest as you can only apply for high-interest credit. Be aware, payday loans can land you in a lot of trouble if they are not paid on time. If you are late with a payment then more money and therefore more interest will be added and it could take you longer to pay it off. 

Ensure Bills Are Paid

Finally, when money is tight make sure you are budgeting and covering all the essential bills. This includes your electricity, rent, and hot water. If you don’t want to be sitting in the dark then you need to work out how much you need to put aside to pay this each month. Some bills are worked out annually so the company will send you a letter with your monthly or quarterly bill. It is up to you, the customer, to ensure you have the money available to pay this. Never worry about ringing them if you fall into hard times. They are used to helping people and they much prefer you asking for help rather than not paying.

About Author

LaDonna Dennis

LaDonna Dennis is the founder and creator of Mom Blog Society. She wears many hats. She is a Homemaker*Blogger*Crafter*Reader*Pinner*Friend*Animal Lover* Former writer of Frost Illustrated and, Cancer...SURVIVOR! LaDonna is happily married to the love of her life, the mother of 3 grown children and "Grams" to 3 grandchildren. She adores animals and has four furbabies: Makia ( a German Shepherd, whose mission in life is to be her attached to her hip) and Hachie, (an OCD Alaskan Malamute, and Akia (An Alaskan Malamute) who is just sweet as can be. And Sassy, a four-month-old German Shepherd who has quickly stolen her heart and become the most precious fur baby of all times. Aside from the humans in her life, LaDonna's fur babies are her world.

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Albina
Albina
2 months ago

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Kevin T
Kevin T
1 month ago

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Isabella
Isabella
1 month ago

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BrettHenderson
BrettHenderson
1 month ago

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Kelley Wheeler
Kelley Wheeler
1 month ago

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DylanPhelps
DylanPhelps
1 month ago

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