The second most important thing {most important is beginning to maintain your credit} you have to do is get on track. The only way you can begin to get back onto track is to make a list of income, bills and debt.
To help get you started I’ve created a Monthly Bills Google Document that you can feel free to print and use. Be sure that all of your bills are included in this sheet.
We are all use to writing out checks and don’t realize our total monthly expenses. By knowing your monthly expenses you can start cutting back on the “wants” in life and guarantee you’ll have a “ah-ha moment”.
Once the list is complete and you compare it to the income that is coming in every month, you may need to begin to cut out those “extras”. You can call your cable or satellite company and get the lowest package or even cancel their services. A majority of Americans are now getting rid of their home phones and only using their cell phones, this is a great option, especially if you are on the go a lot.
Please be aware that you can not pay your Electric bill with your credit card. By doing this you are paying interest on the amount to pay your electric bill and in turn, it’s costing you more. If you are a Duke Energy customer, call 1-800-544-6900 {OH & KY} and put yourself on Budget Billing. They will determine the average bill of your home and you will pay the same amount every month. I have done this and it’s helped in a big way.
If you live within your means, you won’t be stressed and won’t have to avoid those bill collectors!
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I just wanted to say I paid off one of my credit cards yesterday! Yay! We still have one left to go though. Since my husband had his pay cut my 1/3 it’s been tough to adjust. We’re budgeting using an online program called Mint.com and it’s helping. The first thing I learned is we spend way too much money for our earnings. I’m trying not to feel so awful about it and translate it into action; spending less and saving more. Of course it didn’t help that I needed $1400 of car repairs this month–gulp! Thanks for your site. It helps.
WOOT WOOT Lisa! I bet that is one of the greatest feelings in the world!
You are right, having all of the bills and income on paper is an eye opener.
You shouldn’t feel awful about it, you’re simply living by your means and taking action! You just paid off a credit card!!!!!!!