When you are struggling under the weight of monthly bills, especially credit card payments, it can be difficult to come up with larger sum payments at one point in the month. You may not be able to come up with a $100 payment in a month but can manage to budget four smaller $25 payments each week.

These mini-payments can actually help you reduce your credit card debts and satisfy other kind of financial obligations faster than if you stick with only once-monthly payments. Provided your creditor accepts smaller, more frequent payments you can actually knock out balances faster.

How It Works
Taking a look at credit card debts, you should in theory make more than the minimum monthly payment each time or it will take a decade to erase debt. If you are required to make a $35 minimum monthly payment, try budgeting to make four $35 payments each month. Contact your creditor and ask if they accept smaller payments. Set up an automated payment through your bank or through the credit card company’s website. By paying $35 a week, you are actually making a $140 monthly payment without having to come up with the lump sum.

These mini-payments also help you save money because by paying more frequently, you are cutting down on the accumulating interest fees. If you only pay once a month, you have to pay for the entire amount of interest calculated during the billing period. Saving on interest fees, you pay down your balance faster as more money goes towards the principle balance.

Beyond Credit Cards
Cell phone bills, utilities, and other living expenses are always on the increase. If you are only getting a paycheck twice a month, it can be very hard to balance a full month’s worth of expenses at one time By allocating smaller amounts through the week, you can better manage the cash you have and satisfy all of your obligations each month.

If you are not yet using mini-payments to handle your bills, give it a try. Reconstruct your budget and divide monthly payments by 4 to find out how much it would cost you a week to meet your bill obligations. You can also divide by 2 to figure out your bi-weekly payments in relation to your paychecks.

Keep Budgeting
It can be hard to break old habits or institute new ones but if you work hard at making a reasonable budget and stick to it, it will soon be part of your daily life. Once you begin to see results and feel confident you can pay off your monthly obligations and still have money leftover, it makes sense to stick to what is working.

Too many payments? Consider using a debt consolidation service to knock down your debt.

Everyone likes to save money. Buying items on sale, two-for-one promotions and other marketing schemes are all around us. Why not keep the money closer to home and have the pennies add up by saving on the monthly electric bill.

Appliances

Almond and avocado appliances are not only out of date, they are inefficient at best. It may seem odd to spend hundreds of dollars on a new appliance but getting up to date energy efficient appliances with the Energy Star rating can save money and the environment in the long run.

According to the Energy Star site, “Energy Star qualified refrigerators are 20% more energy efficient than the minimum federal standard”. In terms of cash flow, a new fridge will save you money on your electrical bill. Replacing a 1980’s refrigerator with an up to date model with an Energy Star rating can save around $100 per year on the average utility bill.

It is not just refrigerators. Think also about freezers, dishwashers, washers and dryers. New efficient models can save consumers hundreds of dollars a year and using less electricity means reducing the impact on the environment.

Simple Solutions

Investing in big ticket items, such as new appliances, may not be in the future for some home owners. Consumers can continue to reduce on their monthly bill by doing little things to save money.

• Programmable thermostats are an easy and simple way to reduce wasted energy in the home. Having a thermostat controlled by timers can save money by not heating the house when it is empty or while home owners are at work, and kept cool while people are sleeping.

• Keep things cool with ceiling fans and opening windows in the evening. Ceiling fans keep air moving and gives the feeling of lowered temperatures. It has been estimated that air circulation can reduce the AC temperature setting by 2 degrees. This may not seem like much, but a two degree air conditioning setting will show big savings on the utility bill.

• Keep the water heater warm with a hot water jacket. Hot water heaters and hot water use is a large part of the utility bill. Something as simple as a $10 water jacket can reduce the amount of electricity used to keep the water warm.

• Most people would flock to a 75% off sale. Think of that when replacing light bulbs. Compact fluorescent bulbs use 75% less energy than the standard incandescent bulb and can last up to 10 times longer. Be aware however, that the initial price is more expensive so shopping around is essential.

Energy almost oozes out of peoples homes whether they realize it or not. With a little effort energy can be saved and along with it some hard-earned cash can stay in your pocket.

In the past decade cell phone use has grown exponentially to the point where just about everyone, any age and from all walks of life use a cell phone on a daily basis. At one time cell phones were both bulky and expensive to own, however advances in technology have reduced the size and cost of cell phones while adding features that weren’t imaginable years ago. With that in mind, cell phone bills can still be a significant cost if you are not careful as to how you manage your plan and usage. Here we look at a few tips to reduce your cell phone bill allowing you to redirect those savings elsewhere in your budget.

• Consider prepaid services- This is one of the easiest ways to manage your cell phone bill budget. This option works best for individuals who do not qualify for a cell phone contract or those who find a two year contract too restrictive. Most major carriers offer this option now and you can also pick up a pre-paid phone at most retail locations. This makes it a convenient and affordable option for cell phone users.
• Watch your minutes- If you are in a contract, it is important to stay within the minutes or usage allowed by that contract to avoid additional fees which can quickly turn a manageable cell phone bill into one that is very expensive. If you cannot reduce your talk time, consider changing your plan to one that allows for more minutes to avoid overage.
• Review your bill- There are many people who simply pay their cell phone bill without ever looking at the charges that have been applied. By reviewing your bill carefully each month you have the opportunity to not only spot errors (and they do occur) but you can also learn whether you are paying for more features or usage than needed. If you routinely come in under the amount of minutes or text messages included in your plan, you may want to consider a less expensive plan.
• Skip the insurance- Insurance is a great thing to have to cover expenses that you would not normally be able to afford in the event of an emergency. This generally includes major expenses such as medical bills, car accidents, damage to your home or property. While no one wants to pay to replace a damaged or lost phone, in most cases it is more affordable to just skip the insurance and save that money for other uses.
• Compare carriers- The cell phone industry is competitive and service providers are eager to capture and retain as many consumers as possible. This gives you the advantage in that you can either switch to a new carrier to gain great deals or negotiate with your current carrier for a less expensive plan.

With much of the population considering a cell phone a necessity versus a luxury, finding ways to reduce your cell phone bill can save hundreds of dollars per year that could be better used elsewhere in your budget.

With so many holidays promoting the gift of flowers and so many special occasions that warrant the same, people have been spending a small fortune on flowers for decades. Sure, it’s great to send mom a bouquet for Mother’s Day and it’s common for husbands to send roses just because but there is a better way to get a better deal on the beautiful buds.

Here are some easy tips for saving cash on flowers deliveries:

Stick with the local florist. The online flower sites and big dogs like FTD and 1-800-Flowers do make big promises and you can call them at 2 am but essentially it all comes down to this: the big companies add a surcharge to the customers but call on the local florist too. You can do the same thing for free.

Specials are on Friday. At the end of the week, florists are ready to clear out their stock so Fridays and even Saturdays are the best time to ask for a deal.

Restock is Mondays. If you have a specific arrangement in mind, place your order on a Monday and you’ll stand a better chance getting what you want.

Ask for a Deal. Florists usually have no problem giving discounts to senior citizens, local organizations, and loyal customers. But you likely will not get a deal without asking for it first.

Make Flowers Last. Cut stems on an angle and be sure to change the water every other day. When you do change water, wash the vase with soap and water to remove bacteria that will kill the flowers. Use the preservatives the florist provides as directed. If you run out of preservatives, mix ¼ cup of 7 Up with ¾ cup of water and 2 drops of bleach.

Position Counts. Don’t put your flowers in the window. The sunlight is okay but its heat will kill the flowers. Also, never set your arrangements near a bowl of fruit. Fruit emits ethylene gases that kills the flowers.

Too Many Vases? If you are the recipient of regular flower deliveries, you may be up to your eyeballs in clear glass vases. Check with your local florist and see if they will recycle them for you.

No Smell? If you get arrangements that are not very fragrant, don’t worry. Flowers these days are meant to have long stems and longer lives and breeding practices have changed the way flowers smell.

Most financial experts agree that having an emergency fund full of at least 3-6 months worth of living expenses is ideal for financial stability. But many people who live paycheck to paycheck are not able to save such large amount and end up having extra financial struggles when disaster strikes. Disasters can range from losing a job, having to replace a roof, repair a car, or any other time a big ticket purchase is necessary.

In place of having an emergency fund bank account on hand, a credit card can be used as a suitable replacement but only if it is handled correctly. Unnecessary spending on credit cards can have the opposite reaction – instead of helping you in an emergency you can wind up deeper in debt. If you plan to use your credit card as an emergency back up, then you’ll need to do it the right way.

Here are some tips for using a credit card as an emergency back up:

Pay Off the Balances
While you may not be able to save 3-6 months of funds, you should still be putting at least something in an account. Just because you use a credit card as an emergency doesn’t mean you don’t have to pay off the bill. It can be very tempting to use that ‘extra’ cash for other things besides paying down debt but resist the temptation.

Have One Emergency Card
If you have several cards with balances you can’t pay off in full, you might consider dedicating only one for emergencies and ensure the balance is always zero so you will have access to your credit line when you need it. Don’t employ several cards for emergencies and then spend on them. When the time comes for a true emergency, you may not be able to use the cards.

Decide What ‘Emergency’ Means
To a college kid pulling an all-nighter, an emergency might be a large pizza. If you plan to use a credit card as back up, you need to define emergency and restrict other spending.

Shop for a Better Card
If your credit card situation is good and your credit score is sufficient, you may want to shop for a new card that is a better fit for emergencies. For instance, if current cards charge an annual fee, look for a card that doesn’t. It’s pointless to pay for a credit card you’ll only use from time to time, if at all.

Say No To the Advance
Depending on your emergency, you may not be able to use the credit card because only cash will do. If this is the cash, resist the urge to get a cash advance from your credit card unless you are certain you can pay it back in full before the grace period ends. Otherwise, not only will you be responsible for the amount taken, you’ll also have to pay for the high interest rates that generally come with cash advances.

Many people struggle to find balance in life. Whether you are seeking financial, personal or professional balance you must first learn how to get your priorities in order to find success. The term priority is defined as “something given or meriting attention before competing alternatives”. To find balance in life you must make a list of your priorities and list them in order of importance. Unless you are independently wealthy and have enough money to achieve all financial goals simultaneously, you more than likely play a juggling game with your money as you work toward several different financial goals. Here we look at what goals are most important and what goals are farther down the list of financial priorities.

Paying bills- At the top of your list of financial priorities is paying for bills necessary to survive. All other financial goals are moot if you don’t have a place to live or the basic necessities in life. If you are working with a limited income and struggling to pay everything at once, you must make the decision to pay housing expenses, utilities and day-to-day living expenses first before focusing on other priorities. If you are just getting by paying these expenses, you want to look closely at where you can cut costs to free up more money for other financial responsibilities. This may include canceling cable or Internet services or dropping gym memberships.

Savings- In a struggling economy, many people find themselves weighing the need to save money or pay off debt. Having a well padded savings account is one of the best ways to avoid future debt, however if you are losing hundreds of dollars each month to high interest debt, you may not have time to build up the desired amount of savings. With that being said, after paying bills, you should try to tuck away just a few hundred dollars to have a small cushion of money for emergencies. When you are living paycheck to paycheck, missing a few days of work can put you so far behind the eight ball you will struggle for months to catch up. By saving a few hundred dollars you have the peace of mind that should you find yourself with even less available cash, you have something in the bank to get you by in the short term. Once you get past your financial hardship you can then focus on building an adequate emergency fund as well as putting aside money for retirement.

Pay off high interest debt- There is nothing more frustrating than watching your balances grow to epic proportions due to high interest rates. Clearly making the minimum payment will never get you out of debt, however if you are truly facing tough times, you should at least make the minimum payment to avoid late fees and other penalties that occur as a result of not making the minimum monthly payment. Ideally you should tackle your high interest debt aggressively to pay down your balances and stop the hemorrhaging of money. Once you have eliminated your high interest debt you will have extra money to put toward other financial goals.

Retirement contributions- If you have managed to get to this point, you are in good shape. You are paying your bills, have a growing stash of money in savings and have paid off your high interest debt. Now you must try to make up for lost time and begin contributing toward your retirement. If your employer offers a tax deferred retirement plan take advantage of this opportunity to sock away money each paycheck toward your retirement. If your employer provides a company match, all the better, increasing the money that goes into your account with no effort on your part.

It is almost impossible to address all financial goals at once, especially if you are dealing with a financial hardship. By prioritizing your financial goals you can make it through tough times and continue your journey toward other goals.

Vacations and entertainment are usually the first to go when the time comes to cut household costs. The nice thing about cutting traditional entertainment out of the budget is that it forces you to get creative. Finding entertainment that is beyond the traditional dinner and movie is easier than you may think.

Here are a few options that are easy, creative and cost effective:

• Take a trip to the bookstore. The bookstore offers much more than just books. Before you go make sure everyone knows that there will be no purchases. Explain that you are going to enjoy the experience. Large bookstores such as Borders and Barnes and Noble offer much more than just book sales, it’s a way to spend an afternoon. They offer headsets to listen to music; a coffee house that often times has live music and a play area for kids. The sitting area allows customers to spend hours browsing through the many books and magazines with no pressure to buy a thing.

• Smaller bookstores also offer a great place to spend an afternoon. Unlike the big stores many smaller bookstores may allow you to trade your old books for a few new ones. This can be an incentive to get the kids to box up some of those old books that are collecting dust on the shelf in their bedrooms for that trip to the bookstore.

• Take advantage of free events in your area. Most local papers and local websites offer listings of the many free events in and around the area. These events can range from parades and festivals to plays and even organized hiking events. Taking the time to browse through the local events section in your paper can offer dozens of free or low cost events happening every day of the week.

• Go to the library. The library, much like the bookstore offers more than just books. There are DVD and even VHS rentals, cheap book sales, and racks of books and magazines to browse through. It’s free, easy and accessible to the public. The added bonus is that most local libraries are struggling to stay open. Your trip to the library can help your local branch increase their attendance. Libraries also offer story time for kids, book signings, poetry readings and occasional educational sessions. Libraries also have a bulletin board that announces other up and coming community events in the area. The library could open up many other options for entertainment for the whole family.

• Make your own photo slide show. Most families today own a computer and a digital camera. If you do, take advantage of the technology and make your own family photo show. Spend the evening in front of the computer watching your own family photos rather than the same old television shows. This can offer hours of good memories and quality family time. If you don’t have a digital camera you can make an evening out of going through old photos. Most local department stores have the technology to scan already developed photos and put them on a computer CD. Either option is low cost and a great way to spend time together.

You do not have to spend a lot of money to have a fun filled day or evening with your family. In fact there are countless activities that you and your family can do together that are free or cost very little. Let’s take a look.

• Visit a local park or playground if you have young children.Let the kids have fun on the playground equipment. Take along a soccer ball, basketball or other sporting equipment to keep you entertained.
• Find a nature area or preserve and take a family hike together.Bring along a picnic lunch and enjoy all that nature has to offer.
• Dig out everyone’s bicycles and head out for a bike ride. Most areas have bike paths that are great to ride on.
• Check out local area beaches. Sometimes there is a small fee for entry. Make it a full fun beach day.
• If it is winter time and there is snow on the ground, pull out the sleds and find a park in your area with a hill. If you have young kids even a small hill will be loads of fun.
• Head out in the snow together as a family and make snow angels and snowmen. After the outside fun head back inside and make hot chocolate together.
• Have a camp out in your back yard.
• Have a family game night. Pull out the games from your game closet, dust them off and take turns choosing which one to play. Your family can have hours of fun playing your favorite games together.
• Head to your local library and check out books to read and movies to watch together. Most libraries carry a nice selection of family movies. Head home, pop some popcorn and watch a movie together.
• Pull out family photos to look at together or take out the home videos. It is always entertaining to take a trip down memory lane.
• Have a family pajama party.
• Take time to make a fun meal together. One idea is to make homemade pizza. It is pretty easy to make and fun to eat.
• Do a jigsaw puzzle together.
• Call your local museums and see what programs they offer. Many times local museums offer free or low cost family programs.
• Keep an eye on your local papers for fun festivals, area events or other family fun activities that may be free of charge.

Many people today are looking to find ways to trim their bills and live a more frugal lifestyle. You might be surprised by how many little things you can do that will make a big difference. Here are some tips to get your started.

Use your local library

Your local library is a gold mind and most people don’t know it or just don’t take the time to take advantage. Free books, free movies and free programs, what could be a better way to trim spending? Instead of buying books, borrow them. Instead of paying money for movie rentals and premium movie channels, borrow them for free at the library. Many library systems even have first run movies. You may not be able to get it the day it comes out, but hey if you can see it for free by waiting a week or two, it is worth it.

Clip coupons and shop sales

Using coupons and shopping sale items can cut your weekly shopping bill by 25% of more.

Grow your own food

Starting even a small garden can help save you money and have the added benefit of healthy eating. If you have the space to grow a larger garden you can freeze and can your own food for the winter months as well.

Don’t eat out on a regular basis

Most people eat out at least once a week and many people more than that. Make eating out a special rare treat. Eating out just once a month can really trim your budget.

Pay your bills on line

This will not only save you the cost of the stamp, but also the gas to get to the post office. Time is also a big savings with this tip.

Find Freebies

There are so many great freebies out there that most people just aren’t aware of. When eating outing check for restaurants that offer free kids meals and free meals on birthdays. Check your local newspapers for events and activities going on in your area that are free. You can also find other great freebies on line, if you just do a little searching.

Save on your utility bills

Washing all of your clothes in cold can make a difference. Turning off lights in rooms as you are not using them is also a money saving tip. Keeping the heat set even at just a degree lower can show a savings. Finally, add extra covers to your bed and turn your thermostat lower at night, then watch your heating bill dwindle.

If one of your New Year’s resolutions for 2010 is to cut your spending habit, here are some tips to get you on your way.

Switch to Cash

Leave your credit cards at home and switch to spending only cash. When you can only spend cash you are limited to what you have on hand, helping you to keep your spending under control. When you rely on plastic, it is very easy to add extras to the cart knowing that what you spend can be virtually unlimited. After all you can spend today and not worry about it till later. This can be a deadly habit.

Learn the Difference Between Needs and Wants

Before making purchases stop and determine whether or not what you are going to purchase is a need or a want. Think it through. By all means if it is a necessity and you have the cash, make the purchase. If however, it is just a want weigh the pros and cons. Before making the purchase decide whether or not you can truly afford it and what purpose the item will serve you. It is also a great idea to sleep on any purchases that are not necessities. Sometimes when you have given yourself a chance to think about it, you realize you really can live without the item.

Make a List and Check it Twice

Never shop without making a list first. It is so easy to randomly throw objects into your cart as you go through a store. Before you know it you could have dozens of items that just aren’t necessary. Before heading out to shop, especially for groceries, determine what you need and write it down. Once you are in the store, stick to purchasing only what is on your list.

Keep Better Track of Finances

Keep a Debt Diary. Write down every dollar that you spend. This way you can see where your money is going. Then total it. It can be amazing to see how easy it is to spend hundreds of dollars each month on needless purchases like coffee to go or lunches on the run. When you see it in black and white it is much less tempting to make those purchases.

Don’t Skip Entertainment

Finally, give yourself some play money. Each week or month make a dollar allotment that you can spend how you see fit. Whether it is $10.00 or several hundred, depending on your means, you can blow that money any way you like. Just know that once the money is gone you are done for that time period. Knowing you have this fund will help you to stay away from extra spending.