the essence

Everyday there seem to be headlines about the poor economy. I have a growing list of friends who are searching for employment. I also know people who have had to foreclose on their home and/or file for bankruptcy. In just the last year all of these scenarios have become so common place rather than the extreme situation. We have been a one car family for almost two years now but the number of people we know following suit or car pooling is growing, as well.

Its obvious that the economy is tough and that many people need to be cutting expenses in order to save money. There’s always the “latte factor” which can be looked at (the little things people spend money on that are not necessities) but I’m sure there are bigger expenses as well. As mentioned before, evaluating whether or not you really need that second car.

For those already dealing with debt and needing to save money www.bills.com offers many options out there to consolidate debt. I think if you have a large amount of debt than debt consolidation may be the best option. This combines your debts and loans, many times by refinancing your home loan. You then have an extended payment period but interest rates and payments will be reduced.