You are more than ready to get the debt monkey off of your back, but with a family and a mortgage and car payments you have no idea where you will find the money to start paying that debt off. You are not alone, right now there are literally millions of people in your exact position. All of them are ready for a change. All of them are stretched financially to the max. And all of them are desperate to find a way out of debt. The following article is provided by James Milne who are a firm of accountants in Aberdeen. They offer a range of financial services to personal and busness clients alike.
If your goal is to pay your debt off quickly, but you don't have any extra money to do so, here are a few tips that will help you to get the money that you need to pay that debt off in record time.
Look at Your Water and Energy Company
Are their other options for water or energy in your area? What are their rates and how do they compare with what you are currently paying? If you are living in a residential area, you usually have at least two energy companies that you can compare. If you live in a smaller town with only one energy company, check their website to see if they have any energy savings programs. These programs are designed to reduce your energy payment and they may even give you a nice tax credit during income tax time.
You can also check to see if your other utility companies have competitors and see if you can save any money by switching any of those.
Lose Your LAN Line
So many people have cell phones now that they are quickly becoming the primary phone in a household. If you find that you are using your cell phone more than anything else, you might want to consider ditching your LAN line, it could save you $70 a month or more.
Switch to Generic
Have you ever noticed all of those cheap generic products at the grocery store? These products can add up to huge savings for you. You may not be ready to give up your favorite cheese for generic cheese or switch from your favorite ice cream to a generic ice cream, but there are many other products that you can easily buy generic and hardly know a difference.
For instance, if you switch your toilet paper, paper towels, and facial tissue, then you are able to save a fortune without really feeling deprived. You can also switch your light bulbs, ziplock bags, and cleaning products.
All of these will give you a huge savings but you won't feel like you are missing anything.
Plan Your Meals
Another great way to save is to make sure that you don't have anything in your house that you will not be using. After all, having unnecessary things in your home is basically like throwing money out of the window.
A great way to save on your overall shopping bill is to make sure that you don't buy any food that you don't need. There are many easy ways to do this but the simplest is to plan out all of your meals. If you know precisely what you will need for each meal each day, then you will not only cut down on your time in the grocery store, you will also cut down on the money you spend there.
In addition, you can usually find 'buy one get one 50% off' specials or other specials when you buy two or three of the same item at the same time.
Plan enough meals for one week and then keep using those meals every week, you will be amazed at what you save.
Use Your Money Wisely
When you find yourself looking at all of this money that you didn't know you could save, it will be very tempting to put that money towards something that you want. But you need to resist that temptation. Instead, you want to make a commitment to yourself that you are going to put that money into your savings account and only use it to start paying off your debt.