By Staff
My friends are just as desperate as I to increase their income, as their budget is being stretched with the higher costs of food and gasoline.
The answer – have a garage sale.
Unfortunately, too many people have the same idea and are gathering their own unused furniture, books, clothes and toys to have their own sale, as everyone is in the same boat.
I only made $40 at my friend's sale and I believe some of that was from another friend purchasing my items.
There has to be another answer.
One non-profit group recently sent an email on how to do "spring cleaning" on your personal finances.
Take Charge America has some good tips for those others who are in the same situation as my friends and I.
Before you start, you are expected to look closely at your own spending and your debt.
Since the gas prices have gone up, I am much more conscious of how much that lunch out can add up in a week. Even using coupons and drinking water, instead of pop, hasn't helped too much.
Those items need to be figured in on your budget, along with the basics, like house or rent payments, car payments, cell phone, house phone, cable, electricity, gas (natural or propane) and other things which may be every few months, like insurance.
Take Charge America has you look at your debt as in bad debt – high interest credit card – and good debt – mortgage and student loans.
Then there are those hospital or doctor bills which still need to be paid.
Don't ignore some items you would rather not remember. Jot down everything.
When you actually compare the amount of money you bring home each month to your necessary expenses – you may just get a shock.
All those times you went out to eat – because you deserve it – you really didn't have the money and put your self further in debt.
Those bargains you just had to have aren't such a good deal if the bill doesn't get paid for years with interest added on.
You may have caught on by now I am giving myself a pep talk, but I am sure there are many others who are in the same boat – without a paddle.
Part of the problem is debt seems so overwhelming.
My daughter and her husband spoke with a debt counselor and spent the last year paying off credit cards and becoming debt free. They are now in the process of selling his little house and looking for a nicer one in a better neighborhood.
She stuck to what they told her and concentrated on one card at a time, paying them down.
Instead of being generous with her friends, she realized she wanted to reach a goal. I did though get a Mother's Day brunch out of her.
I have heard over the years, "pay yourself first." If you want to save, don't just put the money in your checking account where it is easy to spend, open a different account.
Those Christmas clubs at your bank are really a good idea. You put in so little each week you hardly miss it and when the time comes to buy gifts, you don't have to add to your already loaded credit cards, which won't be paid off for months.
As the former editor of the Penny Saver, may I add, "a penny saved is a penny earned."
To learn more about the Take Charge America, or its programs, call 1-800-823-7396 or visit www.takechargeamerica.org.