After most of us leave the bank or spent countless hours on end going through bills, we end up wondering whether any of the money we have actually belongs to us at all.
The average household income for Grey and Bruce counties for the 2007, was $24, 000.
00.
Unfortunately with the rising cost of living in today's society, this seems no where near enough.
However if we learn to properly manage our money; and take the proper steps to get out of debt, this seemingly "low" income will go further than we ever thought it could.
In just a few quick phone calls, you can cut many costs.
Taking away unnecessary living costs but still leaving room for enjoyment is essential in getting out of debt.
Cutting back on things like basic satellite television when cable is cheaper and has the essential channels.
Canceling caller id, three way calling and call answer; as well as things such as unlimited internet browsing and not talking long distance on your cell phone are also great ways to save that extra $25 dollars a month to pay off that old satellite bill.
When paying off debts, you must be smart about it.
When there are many bills or debts to pay, the best way is to pay off the high interest debt first.
Make sure you never miss a payment for anything! Even if you are short on cash or have calculated things wrong, ensure that you at least pay off the minimum monthly payment on each bill/loan.
If you are in the situation in which you can't make your payments at all, find out what your options are.
Student loans, and even some bank loans can be set up so your monthly payment is smaller and more easily manageable according to your current financial situation.
The bottom line when paying off your debts is simple: if you don't create debt, you won't have any.
Although you may feel like you are barely keeping your head above the water, cutting back on simple spending, such as a daily morning coffee and a night out each week, will in the end be the difference between getting deeper into debt, and getting rid of debt.
Although most of us may go through life half broke, it's all about the bank and how much moneys in it.
In saying this, it's a proven fact that after the basic necessities of living such as food and shelter are provided, we do not need any other unnecessary costs, and simply cutting back on the simple above mentioned costs, will in time allow us to be debt free.