How to Budget Your Money - The Bills.com Blog

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How to Budget Your Money

Question: Well Bill, simply put I’ve been in debt for so long I can't remember not having some kind of monthly payment looming over my head. I’m the type of person who believes I’ve made the debt so I’m going to pay it off. So I decided to put myself on a debt diet. I’ve done without many of life's little luxuries like an occasional movie or dining out forquite some time now. I haven't had a vacation to speak of in years. Finally I saved up the $$$$$ to pay off the car and all my credit card bills. "Now I’m debt free"-------- Big deal!! Since then, I can't seem to save a penny. I’ve had a hospital visit that cost me, doctor visits that won't quit, my car needs a new transmission, etc. I’ve drained my savings to pay off everything, now It's been a year and I don\'t have anything put back in savings. Don’t think I haven't tried, but every time I get a little in there something comes up and have to get it out again. I refuse to put anything on a credit card again! So I have to wait to fix the car till I have the money. It's really horrifying that I have NO savings to fall back on in case of REAL problems, like getting sick and unable to work

for a while or just losing my job altogether. Now I'm losing sleep over this mess. But alas, I’m doing it debt free.

Answer: First of all, you are not alone. With $13 Trillion out there of debt, we're just about all depressed with bills. The challenge is to take charge of the situation and come up with a solid game-plan.

The good news is that although you are struggling to save, you are debt free, which puts you ahead of most Americans.

Your next goal will be to budget. Start out with the Personal Finance and Budget Guide (which I have attached for you for free). It has some excellent tips on how to manage your money and how to get out of the cycle of debt and into a virtuous cycle of wealth.

If you need debt help, please contact a counselor (we have several

online at: Debt Help ) or you can seek a local advisor.

Also, if you need help with bill payment services, you can look to pay bills online or set aside one afternoon each week to pay bills and balance your accounts.

Lastly, try to make a game out of your personal finances. Set short, medium, and long-term goals... and reward yourself for achieving each milestone with simple things like a dinner with a friend, a movie, or just ice-cream. By setting achievable goals, working toward them, and hitting your goals - you will start to take pride in your finances and leave the bill depression in your past!

I hope this information helps you Find. Learn. Save.

Best,
Bill
www.bills.com

Also, make sure to get a free financial health check-up with Bills IQ!

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Bill has answered all sorts of questions and has been able to provide those in need of financial guidance with helpful and valuable advice and information on their specific financial area of interest. If you need specific guidance on any of the above mentioned financial areas, feel free to Ask Bill your financial questions and get better informed. Also, make sure to get a free financial health check-up with Bills IQ!

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