debt

7 easy ways to overcome debt denial

Look for unnecessary expenses
Next
6 of 9
Back
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.


 

 

advertisement

Show Bankrate's community sharing policy
          Connect with us
advertisement
CREDIT CARDS WEEKLY NEWSLETTER
Credit cards on a table

Get advice for managing credit cards, building your credit history and improving your credit score. Delivered weekly.

Debt Adviser

Can consolidation hurt my credit?

Dear Debt Adviser, I have about $50,000 of debt on credit cards. My credit rating is still high. I am considering a debt consolidation loan. Will that adversely affect my credit rating? -- DT Dear DT, The cliche about... Read more

advertisement
Partner Center
advertisement

Connect with us