Category: <span>Money</span>

If you are in debt, you could be digging yourself in deeper with some bad habits. Make sure you avoid these no-nos if you’re in debt:

1) Paying small amounts or minimum payments on credit cards and personal loans. Paying just the minimum just extends the misery since it ensures that it will take you many months or years to get debt free. Pay more than the minimum to dig out faster and to pay less interest.

2) Taking out more loans, especially from family and friends. New loans are a problem, as they keep you perpetually in debt. Work with a budget to ensure that you pay for all necessities so that you don’t have to rely on payday cash advances or friends.

3) Looking for credit counseling and paying money for that. Many people who are in debt immediately seek out credit counseling and pay a hefty fee for some pretty obvious advice. Unless you are really drowning in personal loans, you can usually help yourself by budgeting and paying off your debts over time.

4) Continuing your usual spending habits. If you are in debt, that is a clear sign that you need to rein in what you spend. Cut back to the basics and find cheaper alternatives for your everyday expenses.

5) Taking out high interest loans to consolidate your debt. Consolidation loans can be handy, but bad credit loans or high interest loans for consolidation can still leave you paying a lot in interest.

6) Paying all your money towards loans. Even if you are eager to pay off your loans, you still need to set aside money for your emergency fund and retirement savings.

7) Putting off bankruptcy too long or taking this out too soon. Bankruptcy can be a useful tool, but it is meant as a last resort. Being too eager to file bankruptcy can mean that you ruin your credit rating needlessly. Waiting too late can mean that you face more serious financial consequences.…

Debt Money

Found money is an exciting thing, but if you’re just relying on spare change you can find between the cushions of your couch, you could be missing out on some sources of real money. This money can help you fund an emergency fund. Here’s how to find a lot of cash you didn’t know you had:

File form 8822 with the IRS if you have moved in the past few years. If you have any unclaimed returns, keeping your information up to date with the IRS can ensure that you get the money the IRS is keeping for you.

Contact past unions. Write down all the jobs you have had. Did your jobs ever require you to pay union fees? If so, you could have unclaimed benefits lying around. Contact the unions individually to see whether you have any cash owed to you.

Closed accounts. Have you ever closed utility accounts, bank accounts, or other accounts? You could be owed deposit money. Contact banks and utility companies you have worked with to find out if you are owed cash.

Run Internet searches. There are many online searches that can help you find missing cash. All you need to do is type your name into one of these specialized search engines and you’ll see how much money you could have stashed away and how to claim it.…