How Atlanta Taxpayers Can Lower Debt By Getting Organizing For Taxes
It turns out that filing your income taxes can save you money - even if you don't get that refund.
Have you ever gotten a late fee, but not remembered missing the payment? Have you ever gone to return something you just bought - and found you've already lost the receipt? Tax season is the one time when we're forced to organize our receipts, bank statements, and other important documents. If you can figure out how to maintain that organization all year, not only will you be more prepared when the next April 15 rolls around, but you'll have an easier time paying your bills on schedule, making a budget, and even improving your credit, say Atlanta bankruptcy attorneys.
To start, make a permanent place for your receipts, bills statements, paycheck stubs, and other documents. Then get in the habit of actually filing away these items. It also helps to have a designated spot for unpaid bills - preferably in a place you look at often. These simple steps can save you the pain of late payments, misplaced bills, and tax errors.
Once your papers are organized, it will be easier than ever to input your income and expenses into a budget. Even if you aren't trying to save money, a budget can help you use your income more efficiently. If you aren't already tracking your finances, Mint.com is a good option. You can also create your budget in a program like Excel - or consider printing out our free family budget.
With easy access to records about how much you're spending vs. saving, you can more easily make necessary changes to your budget. If paying the mortgage or health insurance premium seems like a stretch lately, maybe you can free up money by canceling your gym membership. Or perhaps you can lower your grocery bill by cutting out bottled water. Are your prescription costs emptying your wallet? Consider switching to generic brands. If you're not doing such a hot job of saving, maybe it's time to set up an automatic payment into your savings account. When your financial life is laid out clearly in front of you, it becomes lot easier to make the adjustments that will get you where you want to go.
Of course, all the adjustments in the world can't help you if all your money is being drained by debts. If credit card debt, medical bills, IRS debt, or other obligations are too big to manage on your own, consider getting help. Bankruptcy can provide you with a realistic plan to lower debt, so you can free up more money for other bills - and for yourself. Our Atlanta bankruptcy attorneys can determine whether bankruptcy is your ticket to a fresh financial start when you sign up for a free personal debt analysis. That refund will only stretch so far - but lowering debt today can save you money well into the future.