EXIT Realty Foothills Reports on Cutting Credit Card Debt

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EXIT Realty Foothills Reports on Cutting Credit Card Debt

10 Ways to Cut Expenses and Pay Off Credit Card Debt

La Verne, Ca (Grassroots Newswire) 4/12/2011 --If you are finding yourself in some credit card trouble, it may be time to take a step back and see where you can cut some expenses. By cutting these expenses, you will free up some cash and be able to pay down some of that credit card debt. Creditcard.com released an article last year giving 10 tips on where to cut those extra costs. Some of them seem very small but if you add them up together they will make a significant move in lowering your debt.

1. Cell phones - You can buy a prepaid cell phone and pay by the minute. It is easy to find a phone that has suitable coverage and the price is only $9.88 plus minutes. This little trick could save you around $40 a month. If you don’t have a health reason to have a landline, you could terminate that service too.

2. Cable/satellite - You can save money by canceling premium packages like movie channels. If you need to have movies you can always rent from the library.

3. Insurance - Homeowners and car insurance payments can be decreased by increasing the deductible of you policy. For the auto insurance portion, if you drive less than 7,500 miles a year you can usually get a “low-mileage” discount. If you have an older car, it might be more beneficial to get rid of your collision insurance because the repairs might be more than what your car is worth.

4. Transportation - With gas prices these days, it would be very beneficial to find alternative methods of transportation. Carpooling is a great alternative. Zipcar is a Car-sharing company that is operating in a number of cities. Investigating your cities programs would definitely be worth your time.

5. Utilities - If you don’t have a programmable thermostat, it is worth the $20 investment. Over the course of a year it can easily save you about $100.

6. Food - Pack your lunches and cook dinner. The average household will blindly spend more that $250 a month on eat out.

7. Gym memberships - What are you spending a month on this membership versus how many times do you actually go to the gym? If you are only going once a week, that is a lot of money to spend on exercising. Most cities have park facilities that you can use for free and don’t underestimate the home video exercise programs. If you can’t live without your Gym Pass. See if there are discounts for working out at off peak times.

8. Movies - Going to the movies these days can easily be over $100 for four people after popcorn, drinks, maybe parking. See what other things you can do with the family. Game night, free museums, or playing a game at the park are all fun alternatives and you actually interact with each other.

9. Tax relief - If you are struggling because one of the family members has recently lost a job, check your tax withholding on your current pay stub. You may need to re-evaluate your withholding. It will do no good to get a huge tax refund at the end of the year when you need the money now!

10. Health insurance for dependent - Check to see if you qualify for a government coverage plan for dependents, such as Children’s Health Insurance Plan or some providers may offer reduced prices for the basic plan for children.

It is always a little overwhelming when you first decide to cut costs and everybody will have different priorities. Just make sure that when deciding to cut back the decision should be something that you can maintain. This isn’t a one time fix.

For more information about EXIT Realty Foothills, please call 909.593.0502. EXIT Realty Foothills is located at 1339 Foothill Blvd, La Verne CA 91750.

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