July 16, 2008

Figuring Out Financing and Getting Out of Debt!

Lately I've been thinking a lot about financial issues. Especially after I got caught without extra money to help my kids at the last minute. With jobs around here being far and in between and pay being on the low end for anywhere you work in this town, it's been very tough.

Years ago the option of Credit counseling was available, so I looked into it with my ex-husband. We had piled on the bills and I thought maybe credit counseling could help. As it turned out it wasn't right for us and we ended up paying most of the bills off on our own.

Well, that was the past and even though I still have some bills from the past, it's nothing too serious that can't be handle with some re-arranging. I checked with a program called BillsIQ and found it to be kind of an interesting thing.

My BillsIQ turned out to be a 72% a C. Not bad, but it could be so much better.

I think with that thought in mind, the first thing I really want to do is pay our insurance on a 6-12 months basis instead of every month. It will eliminate the $3 a month fee and we won't have to worry about insurance for another year. We'll save $30 a year that way. Might not seem like much, but $30 is enough to buy groceries or gas for several days.

But then again, maybe it would be better to pay off a credit card bill instead? It would save us even more since the monthly interest rate alone is almost $30!

If you had the money, what would you eliminate from the bills in your life?