Debt Assistance Guru

photo credit: D H Wright

If you are currently renting a property while trying to pay off debt then it goes without saying that the less you spend on your rent the more excess cash you will have at the end of the month to pay off your debt. And the sooner you achieve that goal the sooner you can get on with living life to the fullest.

Today then I bring you six ways of spending less on your rent. They may not all apply to you – some research is likely to be necessary – but depending on your situation they all have the potential to seriously reduce your monthly expenses thus helping you to pay off debt quicker.

Sublet

If you’re currently renting a property that is larger than you need (i.e. has spare bedrooms) then why not consider subletting your available space to other people? Depending on what your rental agreement states websites such as Craigslist, Gumtree and Spare Room can all be used to advertise your available space and recruit new housemates.

House Share

On the flipside, if your current rental agreement doesn’t allow such things why not go the other route and instead consider giving up your existing home and instead moving in with other people. You can rent *their* spare room thus saving you money.

But it’s more than just money. In many cases these “housemate” deals are all inclusive – so you have no extra household bills to pay – and your responsibilities around the home are also likely to be minimal thus freeing up more of your time to either work overtime or simply relax and enjoy yourself.

Downsize

Don’t like the idea of sharing your home with others? Then consider moving to a smaller property – or a property of the same size in a less expensive area. Either of these moves can save you considerable money though be sure to take into account the costs of moving in order to calculate how much money you’ll save in real terms.

Couchsurf

Couchsurfing is more of a temporary solution than a permanent one (like your debt, I hope!) whereby people offer up their couch or spare room for free. Why? Well to make their life more interesting.

Typically the stays for couchsurfs are short-term – a week at best – so you may have to move regularly if you’re considering this option but even a month or two spent like this moving around your home town or city could save you a small fortune, allow you to get back on your feet and also meet some new friends along the way.

Find A Job With Accommodation

Between my girlfriend and myself we have had a number of “accommodation included” jobs over the years. Often they don’t pay as well as a standard job for obvious reasons but when you no longer have to worry about rent (and in some cases bills) you don’t have too much more you need to spend money on. Of course if you’re a couple and one of you gets a job like this while the other works fulltime you can quickly pay off a significant amount of debt due to your low overheads.

Volunteer

In a similar vein, some volunteering positions include accommodation as part of the deal. Whether this option makes sense for you will depend on your own personal circumstances and your household budget but it may be that you can fit a part time job around your volunteer activity, live in the laid-on accommodation and still come out on top.

Become A Student

The last option will require some research but in many areas students are exempt from a variety of bills and taxes which can make becoming a registered student a profitable activity in itself – even before you consider what the extra qualification could do for your career (and earnings prospects).

For example in the UK students do not have to pay council tax (property tax) which can save you over $2000 a year for the average property. Find a course that charges less than this and the difference can be spent on debt repayments rather than everyday living expenses.

photo credit: lu_lu

Health and fitness is big business with plenty of customers who are willing to spend big money to look and feel their best. From dietary supplements to weight loss pills, gym memberships to $200 pairs of trainers; it’s possible to spend a *lot* of money on getting into shape.

However it’s not necessarily essential.

The fact is that getting fit is more about an understanding of what works (which is often very simple indeed) combined with the discipline and motivation to actually make those changes in your lifestyle.

That expensive gym membership isn’t going to do you a bit of good if you never go or if you work out ineficiently or even injure yourself along the way through poor form.

So today I wanted to talk about how I got myself into my best shape ever without spending a fortune.

Finding Cheap Fitness Supplies

I don’t have a home gym, or indeed any expensive equipment. Infact I have personally found that I can lose weight, stay trim and feel great with the most basic of supplies.

To me that means clothing that helps keep me cool and comfortable while doing my exercise. Sure, you can buy the latest Nike clothing if you want but any old t-shirt and shorts will do and there are numerous discount stores around these days selling cheap end-of-line sports wear. If you’re in the UK like me, take a look at Sports Direct where you can kit yourself out for next to nothing. Alternatively try taking a look at Ebay for budget sports clothing.

For trainers I do like to try and buy a reasonable pair – though certainly not top of the range. I look for a pair that are supportive, sporty-looking and have a thick, springy sole (to protect my ankles).

Besides this a water bottle, sweat band and a watch come in handy. You’re all set for next to nothing.

Healthy Eating On A Budget

You don’t need expensive diet drinks and creatine powder. If you want to shed pounds and feel your best ever the trick is all about eating low-carb, good-quality food. Fruit. Vegetables. Lean meat. Brown rice. And that doesn’t have to cost the earth.

Here’s an example of my standard diet to give you an idea of what I eat. For breakfast I eat an omlette with a random assortment of chopped peppers, tomatoes, spring onions and turkey bacon. For lunch I have a mixed leaf salad with some grilled chicken or turkey. For dinner I have vegetables and some meat. I drink at least one glass of water with every meal and for snacks I consume fruit or nuts.

That’s it. Nothing expensive or artificial. And what’s more this diet *works*. I should know – I used it to lose almost six inches off my stomach in just three months.

All the standard rules for buying food on a budget apply. Consider buying in bulk for a discount. Visit your local supermarket at the end of the day when they are reducing the price of short-dated food. Try buying fruit and vegetables from local markets or even growing your own to keep costs down.

How To Exercise For Free

There are two exercises which are free, require no specialist equipment, and have formed the backbone of my workouts for years. The first of these in the humble push-up. I aim to carry out 100 push-ups, three times a week. It takes time to build up to that level but keep a journal of how many push-ups you manage and aim to beat your score each time you exercise.

The second exercise really is the one that has had the biggest effect on my health and figure and that is high intensity interval training. That’s a big word for a simple principle. Rather than going for a standard jog, where you move along at the same pace all the time, you aim to change your speed.

Run, at full speed, for 30 seconds. Then walk or jog slowly for the next 30. Then pick up the pace again and so on. Even 15-20 minutes like this will quickly have you worn out meaning more fat burned, greater fitness and less time spent exercising for the same results. Oh, and of course it’s free. I do this three times a week too and that’s basically my exercise regime in a nutshell.

So there you have it. How I spent less than $100 to get set up, succeeded in living on a budget yet got myself into my best shape ever. Please feel free to share any tips here that you may have about getting in shape on a budget – we’d love to hear from you in the comments section.

photo credit: Ed Yourdon

They say that disagreements over money cause more relationship break-ups than any other factor. Money can be a touchy subject for so many reasons; whether that’s because two partners in a relationship value money differently, earn different amounts, like to budget in different ways or have different spending habits. The possibilities for conflict are many and varied.

However one of the most serious financial situations for a couple to get into involves the issue of serious debt. I don’t just mean a few hundred dollars on a credit card but rather when the debt situation starts to damage the relationship you have with your partner. When it is causing arguments and leading to unnecessary stress in an otherwise enjoyable and rewarding relationship.

Having had a similar experience myself in the past I thought that a few pointers on dealing with debt problems with your boyfriend, girlfriend, husband or wife might come in useful for some regular readers.

Understand The Problem

The first step in dealing with debt problems as a couple is laying your cards on the table. Be honest with each other about the problem. Pull out the bills. Run the figures. Get a good grasp of how serious the situation is so you both know exactly what is going on and neither of you is with-holding information.

This first step is almost certainly the hardest and most painful and you both need to work together, openly and honestly, without name-calling or blame, in order to both really clear the air and understand your situation.

Understand The Cause

Once you know how serious your debt problems are, what you owe and to whom the next step is to examine the causes of this debt. Perhaps you just both spend more than you earn. Maybe one of you has an obsession with buying a certain product. Maybe they are even gambling debts.

Whatever the situation you need to look long and hard at the situation to try and understand how you have managed to get yourself into this situation in the first place. Only by doing this will you be able to start to understand how you’re going to get back out of debt again and furthermore how you’re going to ensure you don’t slip back into debt in the future.

Try looking at the bills that you owe to see what you bought that lead to them. Discuss why the bills weren’t paid when they first arrived – what else did you spend money on? Credit card bills, bank statements and utility bills can all be used to get a better understanding of your financial situation and where your money has been going while you clocked up debt.

Agree On A Solution To Your Debt Problem

Once you have a deep and honest understanding of your financial situation the next step in the process of becoming debt free is to examine ways you are going to dig yourself back out again.

A good idea seems to be to put some time aside with a piece of paper each and a calculator where you can sit and brainstorm ideas. Be as wild and crazy as you like with your suggestions and once you have a list go through the ideas and discuss them in far more depth.

Both of you must be constructive and positive and willing to make sacrifices to get your financial situation under control so again it is important that you are both in the right frame of mind if this step is going to work properly.

Work Together To Become Debt Free

Once you have a plan that you both agree on to help you get out of debt the final element is working on making the plan a reality together. Consider planning monthly progress meetings where you can see how much progress you have made and agree that you will discuss all major financial transactions like household bills, income and so on regularly so you can both feel certain the plan is being actioned and no secrets are being with held.

photo credit: AH!Photography

These days if you don’t have a cell phone people tend to look at you a bit strangely. Like you just told them you live in a cave. Like it or not, cell phones are an essential (and to many people necessary) part of everyday life.

But they can also be very expensive if you’re not careful with some people spending far more money than they need to on their monthly bills. As someone who spent a few years working in the cell phone industry I’d like to explaint today some of the ways in which you can save significant sums of money on your cell phone bill.

Go Prepaid

Many of us are on contracts because if you’re a heavy user of your cell phone these can still work out far more cost effective if you are smart with how you use your phone. But one way to control your costs is to consider going prepaid so you know you’ll never spend more than you want. If your contract has expired it is typically very easy to move your phone over to a prepaid plan though some people find the impracticality of having to top up regularly an annoyance.

Change Your Tariff

Take your last three cell phone bills and work out the average number of minutes of calls you make and the number of texts that you send. From this work out the best tariff for you and contact your cell phone provider to try and make the change.

Surprisingly some people can actually save money by increasing their plan rather than reducing it because on a lower plan you may only have a small number of inclusive calls and may pay a premium for any phone call over that limit. Doing some simple math here can really save you some significant money each month.

Understand Your Inclusive Calls

Speak to your cell phone provider to understand firstly how many inclusive calls you get each month but also the fine print on those calls. Many providers exclude certain numbers from these inclusive calls such as premium rate numbers and they may have a limit on how long you can talk for before they start charging you.

As an example, even if I have two hours of calls available with my provider, if I talk for more than an hour on a single call (which can happen with me) they start to charge me on a per-minute basis at minute 61. So check this out so you exactly what is included and what isn’t.

Keep Your Old Phone

Do you have an upgrade due where you can change your phone to the latest model? If so, consider speaking to your cell phone provider about keeping your phone but issuing you with money off instead. Some providers set aside a certain amount of money that they assume it will cost them to provide you with a new phone.

However if you keep your old phone, they get to keep this money and so may give you some of it back. My own cell phone provider gives me $100 each year if I renew my contract but keep my old phone rather than demanding a new one and this is the equivalent of several months of free calls for me.

Threaten To End Your Contract

Cell phone companies are in a competitive business and are desperate to keep you as a customer. If your contract has ended, consider ringing them up to complain that your monthly bills are too high and that you’re considering leaving.

Many of these companies have “customer retenton teams” who are authorized to offer crazy deals to keep you as a customer. On several occasions I have halved my cell phone bill for the next 12 months just by threatening to leave.

Disable The Internet

Unless your plan includes internet access you will likely be charged a premium if you try to access the internet on your phone. Worse, one can sometimes log onto the internet accidentally by pressing the wrong button on your phone. So unless you *need* the internet on your phone, consider disabling it so you won’t accidentially run up extra charges this way.

Text Don’t Talk

Texting is often cheaper and easier than calling your friends so consider relying more on this medium of communication.

Insure Your Cell Phone

Replacing a cell phone can be an expensive business so consider insuring it. Many cell phone companies offer cell phone insurance but you can often find it cheaper elsewhere. Specialist insurers exist who concentrate on cell phones and some bank accounts and household insurance policies cover your cell phone by default. Try ringing your bank and insurance company to see if they cover it for free and if so give them the details they will need to register your handset on their system.

photo credit: KitAy

One of the standard expenses that we can’t get away from each month is that of buying food and drink. We can end our cell phone contract or take the bus to work rather than running a car but none of us can avoid the need to eat.

Therefore a useful way to reduce our monthly expenses enabling us to pay off debt sooner is to find ways to spend less on our grocery shopping. Fortunately whilst some people spend huge amounts of money on grocery shopping, for those looking for debt assistance there are a huge number of ways to save money.

Cut Coupons

Many retailers and manufacturers offer discount coupons and vouchers which can be redeemed when you do your grocery shopping thus bringing down the costs. Keep your eyes open for these coupons or even consider checking some of the online coupon sites for information on what savings are available where.

Shop Around

Whilst doing all your grocery shopping in one supermarket makes life easier, not all supermarkets charge the same prices. Therefore feel free to consult the websites of your local supermarkets to see if you can split up your shopping between two or more stores and save money as a result.

Cook From First Principles

Buying prepared frozen foods and ready-meals is a surprisingly expensive way to buy food. Retailers call these “value added foods” because they are designed to save you time and effort, and as a result these retailers can charge more for them.

By giving up on buying prepared meals and instead baking your own bread, making your own pizzas, creating your own pasta sauces and more you can not only have fun, learn some new skills and save a huge amount of money into the bargain.

Take A Brown Bag Lunch

In a similar vein, rather than relying on overpriced premade sandwiches and drinks, save money by taking your own sandwiches into work together with some fruit and a drink. You’d be astonished how much money this can save over the course of a month.

Buy In Bulk

Retailers want you to spend more. So they typically charge you less proportionately when you buy larger containers than smaller. Buying rice in huge bags is cheaper than buying tiny bags. Buying a sack of potatoes is cheaper than buying numerous small bags. So consider spending a little money each month to buy in bulk and watch how much money you save as a result.

Grow Your Own Food

It is both easy and enjoyable to grow your own fruits and vegetables and doing so will save you plenty of money which can go towards your debt repayment plan.

Keep An Eye On Dates

Food does go out of date and of course food which goes out of date can’t be eaten and must be thrown away. You might as well throw out your money and astonishingly research suggests that 25-30% of the food we buy goes out of date and is thrown away.

So get yourself a calendar or a diary and when you do your grocery shopping write down what goes out of date when so that you can eat your food in order and waste as little as possible.