7 easy ways to overcome debt denial
Look for unnecessary expenses
Divide your expenses into wants and needs, says Gallegos.
Although wants and needs vary from one individual to another, Gallegos suggests these costs as possible cutbacks -- daily coffee drinks, cable TV and phone service.
On these items, Gallegos says your savings would be:
- Coffee: $60/month, $720/year.
- Cable TV: $40/month, $480/year.
- Phone: $50/month, $600/year.
- Internet: $45/month, $540/year.
"Often overlooked places where you can save are car insurance -- shop around for a better rate -- utilities that offer a discount if you have automatic payments set up, interest rates on savings accounts, eating at home instead of in restaurants and using coupons at the grocery store," says Gallegos.