Showing posts with label Pay Your Bills. Show all posts
Showing posts with label Pay Your Bills. Show all posts

Friday, January 7, 2022

4 Ways to Get Better at Handling Money

You may think you need to win the lottery or receive a surprise inheritance from an unknown relative in order to get your finances back on track, but that is a common misconception. 

Simply using good sense to reduce spending and increase savings will allow you to achieve your financial goals in no time. Here are four easy ways to start handling your finances today:

Draft a Monthly Budget You Will Stick to

Evaluate your honest spending habits without deceiving yourself. If you know you get takeout every Saturday, and you can’t live without Netflix, then add these items to your monthly expenses.

Just be realistic about your average monthly take-home pay. You need to thoroughly take stock of your income vs. your spending habits. 

After all, if you don’t own these numbers, a budget will not work because you will still tend to overspend to maintain your current lifestyle.

Pay Your Bills When They are Due

As simple as this sounds, you know it isn’t always doable in everyday life. Things come up that you cannot plan for, and sometimes there isn’t enough money to cover all the costs.

That said if it is possible for you, being punctual with your bills comes with a variety of benefits. You will increase your credit score, avoid late fees, and never have to worry about speaking with creditors.

Track All Your Spending

Your spending habits may be disastrous, but if you have no way to monitor them, you may not be privy to any negative patterns.

There are several apps that help you do this. Spending awareness apps will allow seeing just how much money you are wasting on non-essentials, like that latte from the local coffee shop chain, movies on Amazon, and after-work cocktails. Seeing everything in black and white will bring you much more clarity.

Start Building Some Savings

Savings are crucial for many reasons. They can function as an emergency fund when the unforeseen happens, or they can be the start of a comprehensive retirement plan for your future. Either way, having a cushion to fall back on is critical.

With an uncertain economy, and job losses occurring daily, you can never be too careful. You definitely don’t want to take your financial security for granted. 

Just think, even if you put aside just a bit of money each week, you will have enough to save yourself from taking out high-interest loans or defaulting on your bills and home payments. 

Of course, if you need help, you can always seek the services of a financial advisor.

Many times, becoming better at handling money comes down to changing personal habits. While some changes will come naturally, others may be more difficult to accomplish. 

However, sticking to these goals will help you keep more money in your pocket and alleviate many of the worries that you may be facing at the moment.

Monday, August 26, 2019

Settlement Advance: How to Pay Your Bills on Time

Claims that go through the legal system can take months or even years to be paid. To avoid that, many cases are settled through a mutual agreement of the plaintiff and the defendant, which cuts short the legal proceedings to save everyone time and money. 

However, even if you have been offered a settlement that you plan to take with the help of your attorney’s advice, it may take a while for the funds to be distributed to you after related expenses and fees are paid first. 

Here are some ways that you can keep a handle on your finances and bills while waiting for the settlement you’re due.

Use a Low-Interest Credit Card

Pay your bills that are coming due on a new or existing low-interest credit card. Some banks offer zero percent interest for up to twelve or eighteen months. If your credit score is high enough, you may be eligible for one of these offers that will cover your current expenses. You can then pay off the card when your settlement money is disbursed.

Apply for Lawsuit Funding

Lawsuit funding companies often pay legal fees and claim-related expenses in advance of receiving a settlement. You just fill out an application and explain why the loan is needed, and if approved, you will receive the funds quickly to get your bills under control. Ask your attorney about using lawsuit funding if your expenses are quickly mounting.

Borrow against Your Home Equity Credit Line

If you own a home that has acquired equity in value, you may be able to use a home equity credit line for your bills. Many lenders are more willing to approve loans that are needed for specific and uncommon circumstances, like legal expenses or claim-based costs, than for regular living expenses.

Ask Relatives for a Loan

Although some people prefer not to do business with family, others feel that relatives understand their circumstances and trust them to repay any funds that are advanced for necessary expenses. This is especially true when a known legal settlement is pending. 

Agreeing on specific terms such as the amount to be repaid and the time period in which repayment will occur can help to reassure the family lenders that the money will be returned in a timely manner.

Paying your bills when they come due is important to protect your credit rating. Consider these options when borrowing money ahead of receiving a legal settlement.

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