(AP Photo/Elise Amendola, File)
LAS VEGAS (KLAS) — It’s time to clean out not just your closet and your home, but your finances as well.
A whopping 73% of consumers are living paycheck to paycheck.
According to consumer finance expert Andrea Woroch, consumers had more than $180 billion in new credit card debt last year, the highest number ever.
“Even those earning six figures above $100,000 report financial hardships,” says Wallock.
Experts recommend starting by “refreshing” your budget. Examine your monthly bill and look for potential savings.
“Apps like ‘You Need a Budget’ set alerts if you visit multiple categories,” says Woroch.
Another way to save money: Rethink your cell phone data plan. You may not need unlimited data, and you can probably find a lower-cost option: Mint Mobile costs just $15 a month, and for now he can try the service for seven days, he said. says Woroch.
Take a closer look at services you may not be using.
“Go through a subscription or membership,” advised Woroch. “You may have signed up for a trial and didn’t realize you were automatically enrolled.
Choose free alternatives when available, such as streaming video content for free through your local library’s digital platform.
Free benefits are available through current memberships such as Triple A and AARP. Stay busy and save money with free local activities and events.
You do not have to be over 50 to become a member. Get discounts on restaurants, travel, car rentals and insurance programs.
And there is one thing that should not be overlooked. Get into the habit of unplugging gadgets when you aren’t using them, doing chores during off-peak hours, and adjusting the thermostat a degree or two so he can also save money,” he says.
The average American spends over $300 on impulse purchases each month. Take the time to identify your spending triggers and look for ways to eliminate them. For example, turn off sale notifications in in-store apps, unsubscribe from retail newsletters, and avoid walking into stores just to browse.
