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Financial Tip

Instead of shopping, spend time with friends and family.

 
home › economic survival tips › Spending › One Paycheck Away But Still Spending  › Get Organized and Look at the Big Picture

Get Organized and Look at the Big Picture

 
  1. Attack the mail: When the bills come, prepare to get organized. You’ll have a better handle on what you owe if you lay it all out in front of you.

  2. Organize your bills: Sort by category, such as housing, utilities, and nonessentials. If any bills are missing, contact the company. Make sure it has your current address and ask for an updated bill.

  3. Scrutinize each bill: Make sure the charges are accurate, and if there are any penalties or extra fees. Review all bills (utilities, subscription and even mortgage) closely for line item charges. Contact the company to see if it will remove any additional charges. If the company says you owe for a purchase you didn’t make, call to dispute the charge.

  4. Make a list: On a piece of paper, make three columns. Organize your debts by due date so you always know when payments must be made. In the second column, write down the total balance and the minimum due this month. Third, write down contact information for the creditor.

The Big Picture
 

It’s hard to get a handle on your financial situation without also looking at the big picture. Look at your income and expenses in a spending plan that shows how your money flows in and out, as well as your credit report.

Your credit report includes all your debts and how well or poorly you’ve paid them on time. Taking a look at your credit report also gives you peace of mind that no one has tried to open accounts in your name or steal your identity. Or, if there is activity in your reports that you know isn’t yours, you’ll be able to take steps to correcting the errors.

You’re entitled to a free copy of your credit reports once a year. To get your reports, visit www.AnnualCreditReport.com.

 

 

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