Digital News Report – With high unemployment and a sagging economy, many Americans are finding it tough to make ends meet. There are many alternatives when it comes to finding cash quickly to accommodate an immediate need, including payday loans and credit union loans with a lower rate.
In a recent advice column, Gary Zortman tells readers to consider a few other options before signing their name on the dotted line. It is important to review your monthly bills first. Saving money is better than taking out a loan, especially if you are borrowing money to prevent a late-payment fee on your bill.
Writing for the Personal Money Store, Zortman suggests looking at your car insurance first. If you are driving fewer miles than before, you may be eligible for a discount.
This may be the right time to shop around for a lower rate on car insurance and other bills. Your cable company, mobile phone carrier and even your electric company may be able to offer you discounts.
Are you on the best mobile phone plan? Consider a pre-paid phone if you don’t use your mobile phone often. Call your carrier and ask for a discount or find out if you are on the best plan for your usage.
Cable or Satellite TV:
Phone your cable or satellite company to see if you can save some money. Tell them you are looking at the competition. They might be able to work out a lower rate.
If your income has dropped recently, you may qualify for a lower rate on your electric bill. The electric company may offer you cash during the summer if you allow them to install an emergency shut-off on your air conditioner. It is rarely used and it could put hundreds of dollars in your pocket each year. Electrical usage for medical devices can also be deducted from your bill.
If you are a homeowner, Zortman reminds you to talk to your insurance agent to see if you can save some money on your car insurance. Perhaps you can combine your car insurance with your homeowner’s policy.
It is almost always worth a phone call. I have called all of these companies over the years and saved thousands of dollars.
By: Tina Brown