Q: I FEEL OVERWHELMED BY MY FINANCES. WHERE SHOULD I START?
A:“A lot of people with finances that are going nowhere aren’t aware of their situation,” Ducki says. “Taking control is the first thing to get on top of, and that means sitting down and going through your bank statements and other paperwork from at least the past month. With that in front of you, it’s easy to see if you’re on the right track or whether you need a budget, a savings plan or to see a financial expert.”
If you’re having trouble paying bills on time, don’t panic, Hartnett says. “Utility companies and banks understand and will work with you to find a solution. Call and speak to their hardship department about arranging a payment plan. The plan should be sustainable – not just a way to get the monkey off your back for now. Consider automatic payment systems for electricity, gas and phone bills.”