Budgeting Blues: How to Get a Handle on Your Most Expensive Bills

Creating a workable household budget can be a challenge when you have a number of big bills to pay each month. But it is possible to find ways to whittle down these expenses into more manageable payments. A good way to start is to collect all of your bills for the month and find out what you are paying right now. Then, you can begin to take active steps to make these expenses more affordable.

Budgeting Blues: How to Get a Handle on Your Most Expensive Bills

Housing
Take a hard look at how much you are paying for your rent or mortgage and how you are utilizing the space. It may be a good time to downsize your home. This move can save you tons of money on your mortgage, taxes, and maintenance expenses. However, if you need the space and are satisfied with your current arrangement, look into refinancing the balance on your mortgage. Many lending institutions like Sente Mortgage offer favorable rates for their customers. By using this resource, you can often lower your monthly payments, so you have more money for other expenses in your personal finances.

Transportation
Buying, insuring, and maintaining a car can become an overwhelming expense for some people. Look into the transportation options in your area. It may be possible to use public transportation to get to work, shopping, or entertainment venues. Your area may offer Uber, Zipcar, or short-term car rentals that will allow you to have automobile transportation when you need it, without the overhead of keeping your own car. Find carpool groups for getting to work, soccer games or school. Sharing the expense can lighten the load on a lot of other bills.

Insurance
Over the years, insurance costs have increased, becoming a serious problem for household budgeting. If you think you aren’t getting the best deal on home, auto, or health insurance, compare rates every year and talk to other companies who might get you a better deal. You can often save hundreds of dollars on insurance by comparison-shopping and raising your deductible levels can help make your insurance bill more affordable.

Credit Card Debt
Many people rely on credit cards to make everyday purchases and for convenience when booking travel. These expenses can add up quickly, and you may find that your credit card payments take a huge bite out of your monthly budget. First, cut up or put away the cards. Learn to live on available cash, or debit account money. You can then transfer your credit card balance to a low-interest rate card in order to pay it off more easily. Although transferring a balance can cost up to 3 percent of the balance, the lower rate will save you money over the long run. Commit to reducing the balance, so that you can have more money in your budget in the future.

Brooke Chaplan is a freelance writer and blogger. She lives and works out of her home in Los Lunas, New Mexico. She loves the outdoors and spends most her time hiking, biking and gardening. For more information contact Brooke via Twitter @BrookeChaplan. you can also connect with her on Google+, Facebook, LinkedIn and Pinterest.

Danielle is the owner of Today's the Best Day. She strives to provide creative and uplifting content in order to enrich the parenting experience for women everywhere. Danielle hopes to help you and your family to make every day the best day!

July 21, 2015 by Danielle Davis | 0 comment