Cutting debt and saving money at the same time may sound hard but it really isn’t.  It’s going to take action and a different mindset to do such a thing.  Sure, if you have the money to save, shouldn’t you put that money toward debt?  While most people say no, there are reasons should have a safety net as well.

Build your emergency fund – I don’t care how much you’re in debt.  If you don’t have an emergency fund, you’re asking for more trouble.  What happens if you lose your job?  your cash flow?  You need to have a bank account set up right now with at least 6 months of expenses set aside.  If you spend $2000 a month in bills, mortgages, etc.  You better have at least $12,000 saved up before you fight off your debt.

Start looking at your expenses- When the next month starts, I want you to write down every single dollar you spend.  I don’t care if its a quarter on a gum ball or $100 on a new pair of shoes.  I want you to carry around a little notepad and make it a habit to write down every dollar you spent for the month.  At the end of the month, we are going to dissect it.

Look at your notebook – When you finally write down the 30 days worth of spending down on a piece of paper, I want you to go through it and see what you can live without.  Did you spend too much on cable?  shoes at the mall?  Find out what you don’t need to buy for the months to come and cut it out 100%.  This is going to save you money and help you pay off your debt.  Now, in the future you’ll be able to get these services back once you pay off your debts but in the meantime, let’s cut them out for now.

Try to use cash or a prepaid credit card – If you have credit cards in your wallet right now, try and avoid them.  You’re going to want to use either a no fee prepaid card or a debit card.  This way, you’ll be able to control all of your spending.  Credit cards usually can do more harm than good if you don’t know how to use them.

Use coupons and other saving methods- This is a fairly simple process.  Every time you want to buy something, try and use a coupon or buy it on sale.  If you can get into the habit of not paying full price, you’ll be able to save a lot of money per month.   Also make sure that you check out items on the Internet because you may find that you can save up to 50% by buying online and not in a typical brick and mortar based store.

Cutting your debt isn’t hard.  It’s going to take discipline and action on your part.  If you’re not serious about it, you’re never going to get anywhere.  Just think of how great it’s going to be to be debt free.  Use that as your motivation and hopefully in no time, you’ll have a positive net worth and not a negative one.

A personal loan may be necessary for you whether you need it for emergencies, to pay off a debt or for any other reasons.  Before you go to your local bank and apply for a personal loan, you may want to do some further research in order to find the best rate for a personal loan to ensure that you get the best rate possible.

Know the type of rates – There are a few type of rates out there that you want to be aware of when you’re getting a personal loan.  Some of the most popular rates are fixed and variable.  I would advise you look into getting a fixed rate but you may find a variable works out better for you in the short term.  A fixed rate will never change while a variable can change over time.  Make sure you know what type of rate you want before you apply.  The rates on these will vary depending on what you want.

How much do you need borrow?  Some banks will have limits on how much you can borrow.  If you want to borrow more than $25,000 then you’re probably going to have a tough time getting it unless you have a great credit score.  Generally, if you want to get a loan this big, you will want to dip into your home equity. 

You’re probably reading these pointers and wondering what this has to do with getting the best rates possible for a personal loan.  Well, as I already mentioned, you’re going to see big rate differences with a variable and fixed along with the amount you want to get.  If you want a fixed loan for $10,000, the rate will be different for a variable loan for $10,000.

Check both credit unions and banks – If you’re not part of a credit union, you may want to look into one because they are simply the best when it comes to loans.  They generally offer lower rates and are little bit more friendly and personable when it comes to customer service.  Make sure that you check out not only major banks but credit unions as well.

When you’re on your search for the best rates, make sure you check out sitses like Bankrate.com and others to find the best possible rate in your area.  As long as you take time to do a little research, you should be able to find a decent rate.

You’re probably reading that title and thinking, “Hey! I can’t pay my credit cards, what am I supposed to do?”  Well, I’m hoping that I can help you with this post in order to get you on the right track.

It’s not the end of the world.  The first thing we want to look at are the consequences.  The worst thing that will happen is that you’ll have to declare bankruptcy.  Sure, it will be on your credit report for 7-10 years but it can be a lot worse.

Try your best.  I don’t care how much you’re making right now.  I want you to make a goal of at least paying the minimums on each credit card.  If you can transfer them all onto a low interest card, that’s great.  If not, look at the minimums on each card and try to pay off at least the minimum.

Work your way down.  Get a notepad and start writing down what you owe to who.  I don’t care what it is.  From student loans to credit cards, you’ll want it to look something like this –

• Credit card A — $6,000 balance, 13.99% APR
• Credit card B — $3,500 balance, 16.99% APR
• Credit card C – $850 balance, 19.99% APR

Now, let’s say that’s your notepad up there.  Once we have written down every balance you owe, we will want to proceed to pay off the highest interest rate first.  So with the example, we will pay the minimums on A and B and put as much as possible toward C.  Once C is paid off, we rinse and repeat with A and B.

Get another job.  Yeah, the economy is in the toilet, I understand but if you’re not working two or three jobs right now, I don’t feel sorry for you.  Get off your butt right now and get a job anywhere.  Remember, McDonald’s is always hiring and NO job is above you.  Get out there, make a few extra hundred bucks a month and put it toward your debt.  Don’t use the excuse that there are no jobs out there.

Settle for less.  If you haven’t done so already, try and call up the credit card companies and ask them what they can do with your balance.  Explain your situation to them and tell them that you want to work something out.  Depending on the card company, they will more than likely figure out a plan to get you to pay it off on time.

It isn’t the end of the world when it comes to not paying your credit cards.  Try some of the steps mentioned above.  If you can work your butt off and take action, great things will be ahead like no debt.  Good luck!

Grocery shopping is one of the things you just can’t get rid of when you want to live your daily every day life.  Sure, we can all live off of ramen noodles and water for $1/day but how good is that for our health?  I’m going to show you some tips today on how you can set your grocery budget the right way so that you can save money and put it either toward your debt or savings.

Always know the sales- Try and make it a habit to always buy on sale.  It’s silly to buy something in full price because most likely, there’s going to be another brand on sale that week.  If it’s absolutely necessary like eggs or milk, then you should get it.  If not, then I would advise that you wait until it goes on sale.

Use your coupons – With websites like CouponMom.com, there’s no reason you shouldn’t use coupons.  Websites like this will help you show you whats on sale and what coupons you can use to get the best deal.  All you need is the Sunday newspaper which will cost you no more than a few dollars a month.

Cash only- Some people just can’t stick to a budget and this is why you’ll see a lot of people just use cash.  This is the best way to spend what you have.  If you want to spend only $100, then you should walk into the grocery store with $100 only.  If you come in with a credit card, who knows how much you can potentially spend.

Limit your trips – You don’t want to go to the store every other day.  Instead, try and pick out a day of the week when you want to go shopping.  If you find yourself continuing to shop, you may be buying a lot more than you can afford.

Plan ahead of time – If you have a big family, you’ll probably want to plan meals if don’t already.  Mark down what you want to make every night of the week.  From here, you’ll be able to know what you need at the grocery store.  This way, you won’t find yourself buying stuff you won’t use for awhile.  It’s always best to buy for the week and not the month ahead.

Grocery shopping on a budget isn’t that hard at all.  Know what you want and make a list.  Make it a game to see how much you can save.  Great ways to do this are by saving your receipts and comparing.  Use your fridge as the wall of fame and post your best shopping experience ever and then try to beat it.

In today’s market, so many people seem like they are desperate for money.  Now that they can’t get loans or the mortgages for their homes, people are turning to other ways of getting money when they are desperate.  The loan i’m talking about are those awful “payday loans’.

If you were one of the many who are now stuck with these high interest rate loans, there isn’t much you can do if you plan on getting out of them.  Besides paying for them, you have very few options but I’m going to explain a few of them to you to get you on the right path.

Find money somewhere else- If you can pay this loan off in full right now, do it!  Stop paying that ridiculous 25% on your money.  If you can get a friend, relative or even find a credit card that will allow you to write a check, by all means do it.  Anything is better than a payday loan.

Declare bankruptcy- I’m not saying declare bankruptcy simply based on this particular loan but if you have been in trouble with your other bills, you may want to look at the bankruptcy options and walk away from everything.  The bankruptcy laws are strict in today’s world, so I highly recommend you look into them before going along with this process.

Just walk away – If you want to do the dirty thing, you can always just walk away from the loan.  Sure, it’s going to hurt your score and you’re going to get calls every other minute of they day but your family and housing comes first.  Your payday loans should be at the bottom of that list.

Work with the company – Just because you have a high rate, this doesn’t mean you have to pay it.  Try and call up the company and see if they can do anything to lower you rate.  Most of the time, they will try to figure out some sort of solution.  It never hurts to try!

Payday loans are a pain in the butt but it should really be your last resort when looking for money.  I would advise that you try every alternative before getting money from a place like this.  For now, you have to deal with your mistakes and move forward to the debt free road that awaits you.