Foreclosures on the increase
According to RealtyTrac, U.S. foreclosure filings increased 71 percent in the third quarter compared with last year. This is the highest number on record and stricter mortgage standards are making it harder for homeowners to sell or refinance their homes.
With this in mind, it may be time for you to take a look at your monthly budget and to start tightening that financial belt, or you may become one of the statistics as well.
A good way to keep track of what you spend is to start a finance diary. Get a small notebook, something that fits in your bag and then just jot down everything you buy in a month. At the end of the month, break down the payments into necessities, niceties etc. Make sure you break down those grocery bills too. You'll be surprised how much money you spend on things you didn't need.
Now comes the hard part - discipline. Now that you have a budget and know what you want to cut out, then try these tips to stick to the budget:
1. Avoid going to the shops if you can
Try buying all you need for a week, at one time. Work out what you need for the week and then make a list, and then try to stick to the list.
2. Avoid the isles you don't need anything from
When you're shopping don't be tempted to walk down each isle. You'll be amazed at how much you buy that's not on your list, and that you don't need.
3. Price the list and then take only that much cash
Limiting the amount of cash you take to the store can also help you to tighten that belt. IF you only have the cash you need then you may not be tempted to buy that extra candy bar or magazine.
4. Be prepared.
Pack yourself a lunch at home and take a flask of coffee to work. It's amazing how much money you waste on extra little snacks and coffee's at work.
Finally, if you are in trouble with your mortgage. Get Help. Don't stick your head in the sand hoping it will go away. Go to a credit adviser and sort out your problem. It could mean the difference between keeping your house and losing it.
For more information please visit http://www.low-interest-second-mortgage-rates.com for more information
With this in mind, it may be time for you to take a look at your monthly budget and to start tightening that financial belt, or you may become one of the statistics as well.
A good way to keep track of what you spend is to start a finance diary. Get a small notebook, something that fits in your bag and then just jot down everything you buy in a month. At the end of the month, break down the payments into necessities, niceties etc. Make sure you break down those grocery bills too. You'll be surprised how much money you spend on things you didn't need.
Now comes the hard part - discipline. Now that you have a budget and know what you want to cut out, then try these tips to stick to the budget:
1. Avoid going to the shops if you can
Try buying all you need for a week, at one time. Work out what you need for the week and then make a list, and then try to stick to the list.
2. Avoid the isles you don't need anything from
When you're shopping don't be tempted to walk down each isle. You'll be amazed at how much you buy that's not on your list, and that you don't need.
3. Price the list and then take only that much cash
Limiting the amount of cash you take to the store can also help you to tighten that belt. IF you only have the cash you need then you may not be tempted to buy that extra candy bar or magazine.
4. Be prepared.
Pack yourself a lunch at home and take a flask of coffee to work. It's amazing how much money you waste on extra little snacks and coffee's at work.
Finally, if you are in trouble with your mortgage. Get Help. Don't stick your head in the sand hoping it will go away. Go to a credit adviser and sort out your problem. It could mean the difference between keeping your house and losing it.
For more information please visit http://www.low-interest-second-mortgage-rates.com for more information
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