Tips for couples looking to manage their finances together
Share
Updated: 3:56 AM PDT Apr 6, 2021
Kathryn Vasel, CNN Business
Share
Updated: 3:56 AM PDT Apr 6, 2021
Hide Transcript
Show Transcript
According to a survey by Charles Schwab, 59% of Americans are living paycheck to paycheck By trimming your expenses, you could add to your long term savings or get prepared for a special event. Moving into a smaller place or to another part of town could mean a huge savings for you. Real estate research company Yardy Matrix says the national average for rent is around $1460 per month. But sharing with a roommate or family member could greatly reduce that cost. If you own a home, the money from renting an extra room could go directly towards your mortgage. Is unlimited data necessary on your cell phone? If not, it may be time to look at a new cell phone plan. According to money talks news. Reducing your cell phone bill could save the average American $146 per year. Do you need a car to get to and from work? Or could public transportation do look at the cost savings for getting rid of your vehicle, or at least driving it less? If not, having a personal vehicle isn't an option, shop around for less expensive insurance coverage. Credit card interest rates can make an already large bill even harder to pay off if you make regular payments on time and are not over your credit limit. The simple dollars suggests calling creditors and asking for a reduction in your interest rates. It takes time to make these financial adjustments, but little budget changes can add up to a lot of money by the end of the year.