With Foreclosures on the rise, rates adjusting and money being tight, many people find themselves with too much month left at the end of the money. You may have heard some of this before, but I don't think a review can hurt. For some this will be new and help them immediately.

Let me first say that this is a true change of habit. You must have the desire, motivation, discipline and willingness to act to make this happen. I know, this doesn't sound easy and it most likely will not be easy. However, since it is a Friday, let me give you a couple ideas that are easy and do not require any heavy lifting. I will start with 2 softballs, so to speak. 1^st if you are paid by W-2, got a tax refund last year, and not much has changed, you should consider revising your withholdings on your paycheck. (Always consult a CPA for tax advice). Too many people let Uncle Sam use their money through out the year. The goal is to break even because you need the monthly cash flow now! If you received $3000 back last year that is an extra $250/mo you could have to save, invest or use to get out of debt. The 2^nd softball - evaluate all your credit cards. What you owe on each, the limits on each and most importantly the interest rates. You may be able to transfer some money from one card to a card with a lower rate/minimum payment and free up additional cash flow. Now I must give a small warning this could lower your credit score a little bit if you had your balances evenly distributed to be under 50% of the limit on each card. However, you need cash flow now and paying off the debt will put you in a much better situation. I hope these 2 ideas can be starting points for you.

Look at these 2 ideas as easy homework assignments for the 2-3 day weekend. Come back next week and be ready to roll up your sleeves. We will start with discussing a budget. Too many people do not have one. So have a great weekend and next week we will continue to find more money that you might not realize you even have. Have a great weekend!

If you have any questions, comments, or would like a free mortgage consultation, please feel free to call me at 702-672-8401 or email me at christian.clements@imb.com. I lend in all 50 states.