Barely 20 percent of Americans feel financially comfortable. If consumers want to wrangle with their debts on a daily basis, these tips may help to strengthen their budgets.
San Antonio, TX (PRWEB) December 05, 2012
As the economy struggles to improve, Americans everywhere are feeling the pinch. According to a recent survey from job-search firm CareerBuilder, about 40 percent of U.S. workers struggle to make ends meet and have no meaningful reserves of savings. In other words, these consumers live "paycheck to paycheck." The study also found that a similar proportion of Americans deplete their savings reserves on an occasional basis. According to this report, barely 20 percent of Americans feel financially comfortable.
Many of Debt Consolidation USA's clients find themselves struggling with mounting debts and shrinking paychecks. The credit consolidation company is proud to announce a brand-new list of tips for squeezing every last penny out of a meager paycheck. If consumers want to wrangle with their debts on a daily basis, these tips may help to strengthen their budgets.
1. Save Regularly
Saving a portion of monthly earnings may seem incompatible with "stretching the paycheck." However, building a strong savings buffer may be exactly what a budget needs. When every penny earned is spent on day-to-day expenses, there is no provision for emergencies. Make sure to sock away at least 5 percent of every paycheck. This prevents the need for seeking short term personal or auto title loans at exorbitant interest rates and fees.
2. Avoid Flashy Purchases
Avoid making purchases that can become regrettable. For instance, don’t buy 22-inch rims for a car when standard equipment will do. Likewise, don't purchase an expensive new bag or jacket when a non-designer item will cost less and fit just as well. Maintaining a budget or spending plan can help consumers stay within their means which is one of the best ways to stretch the paychecks to the end of the month.
3. Leave a Smaller Footprint
Between utility bills and transportation costs, a good deal of money can be spent on transportation. It may be possible to save $100 or more per month simply by turning up the thermostat during the summer and sealing windows with energy-efficient thermal wrap during the winter. If a big car is not a real necessity, trade it in for a more efficient vehicle and save even more.
4. Switch to Cash
Leave all plastic cards at home and bring a set amount of cash on weekly shopping trips. This makes it more likely that only essential items will be purchased. After all, it is not possible to spend money that isn’t there.
5. Practice Financial Discipline
It can be difficult to say "no" to loved ones. Unfortunately, it’s important to get in the habit of refusing to indulge children’s requests for the latest toy or a post-dinner trip to the ice cream parlor. If the family sees that financial discipline is being practiced, it will be likely follow this lead.
People who are living paycheck to paycheck and still finding it difficult to make ends meet may need to seek assistance from a trusted credit relief company like Debt Consolidation USA. The credit consolidation company matches consumers with debt relief companies that negotiate debt settlements with banks, credit card issuers and other financial institutions on behalf of its clients.
Every year, the company helps thousands of American consumers recover from financial setbacks. Its method of consolidating unsecured debt is a realistic alternative to bankruptcy and typically costs less than credit counseling services or debt consolidation loans. Most programs of debt settlement wrap up in less than four years.
For more money-saving tips, visit DebtConsolidationUSA.com. To learn more about the debt settlement process or to begin a personalized debt consultation with one of the company's trusted debt counselors, call Debt Consolidation USA at 1-877-610-6990 today.