by Emeralddawnn

Created on: January 22, 2008   Last Updated: December 10, 2008

When the gas prices hit highs of $4 a gallon in the summer of 2008, many people,who couldn't afford much already, started living on their credit cards each month to pay for necessities such as food, clothing and even rent. However, now their debt is out of control but at least gas prices have dropped down drastically. Now it's time to get ahead of those bills and manage the debt. What do you need to do to get ahead? Follow these simple tips to help you out.

Debt Tip One - Write/Type Down All Your Monthly Bills

Honestly, if you have a computer... utilize it for this tip. Use the Microsoft Word program to list your monthly bills. It's important to write down all your bills from rent/mortgage, electricity, gas, student loans, phone, warranty payments, child support, alimony, etc. and roughly how much you pay each month for it. Any bill that takes money from your household should be included.

Now to get a handle on your bills and know when they are due, when you have paid them and how much you paid, be sure you list all your bills down. Place bills that have similar due dates together. If your house payment is due on the 10th but your electric bill is due the 27th, then you'll want to place them further away from each other. As each bill comes in, tab over and place the amount due (In cases of credit card debt, type in how much you will pay if not the minumum balance). Again tab over and place the due date in. When you pay the bill, tab over once more and place the date paid in the document. By doing this, you are assured not to miss a payment and get further behind. If you feel the need, place a calendar in the room that you maintain the bills.

Debt Tip Two - Keep Your Paycheck Stubs

This is handy for a variety of reasons. First off, if you are on government assistance you are required to bring in a full month's worth of stubs. By having them this information already, you avoid having to go through your employer for the information. Second, it allows you to compare your list of bills to the money you bring in. If you are paid weekly, are you making enough money to pay for the bills that are due that week, put gas in your vehicle and food on the table. If you say no, then you might possibly want to look for ways to increase your paycheck or your income overall or even cut off bills if they aren't necessary to living.

Debt Tip Three - Use a Filing Cabinet

It's important to have a filing cabinet when doing the bills. Have a folder for each bill. If your bills come through

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