The economy is improving, but Americans’ finances are still in turmoil.
So what can you do now to make sure your payments aren’t overpaid?
Here are a few tips:Keep a budget with you.
The best way to stay on top of your payments is to keep a written budget, one that includes all of your bills and all of the expenses you incur each month.
The more information you have on your bills, the more accurate the information becomes.
If you need to check your balances regularly, it’s also important to keep track of how much you owe and how much of that money you are paying off each month as well.
A good rule of thumb is to spend less on necessities each month than you spend on entertainment, transportation, food and rent.
Don’t go overboard on spending.
Spend as little as you can afford to without feeling like you are overspending.
If you are struggling with paying off debts, try the Debt-Free Lifestyle program, which offers free credit monitoring, debt management and other services to people with low or moderate incomes.
This program is offered by the U.S. Department of Labor.