| When you bought your home you might have | | | | cutting your cable, take a look at your car |
| had a wonderful job with great benefits, a | | | | insurance. Obviously, you will need car insurance, |
| company car, and maybe even an inheritance that | | | | but do you really need the same kind of |
| helped you with the down payment. Now, your | | | | coverage you had when the car was new six |
| financial situation has changed and perhaps you | | | | years ago? You may be able to free up some |
| have gotten married or become a parent, the | | | | funds by adjusting the services to which you |
| great job was outsourced and you had to settle | | | | subscribe. |
| for something else, the company car is gone and | | | | If you have cut and pruned your budget but |
| you have a car loan, and at the end of the day | | | | there is still a foreseeable shortfall, you will need |
| there does not seem to be enough money to go | | | | to seek ways to increase your income. Obviously |
| around. You might have begun to rely on credit | | | | a second job is a good idea, but perhaps there |
| cards and in some ways you are robbing Peter to | | | | are other avenues as well. Are you able to qualify |
| pay Paul every month but you can tell that this | | | | for tax refunds that you have not explored? Are |
| kind of financial planning is catching up with you. | | | | there write offs that you might be entitled to but |
| Mortgage arrears are just around the corner and | | | | have not applied for? Are you getting the |
| you are afraid of what will happen when you | | | | homeowner exemption you should have? Are |
| cannot pay that high mortgage payment | | | | your taxes too high because the taxing authority |
| anymore. | | | | has overvalued your home? Asking these |
| Probably the best way to head off possible | | | | questions may help you to find ways to keep |
| mortgage arrears is to get a clear picture of your | | | | more of your hard earned money. |
| financial health. Writer down every penny that | | | | Similarly, do you have a hobby that perhaps you |
| comes in and every penny that goes out. Next, | | | | could turn into a little freelance business? For |
| you will need to shift your priorities. For example, | | | | example, if you enjoy making pottery in your |
| while it might be nice to have cable television, you | | | | spare time, you might be able to sell it online for a |
| can live without it. Your mortgage always needs | | | | bit of extra income. If you dedicated a room in |
| to be the top priority and it needs to be paid | | | | your home to this effort, you may even qualify |
| before you pick up any other bills for payment. | | | | for a new tax exemption! As you can see, |
| Some bills may be for goods and services that | | | | mortgage arrears can be kept at bay if you take |
| are redundant or perhaps not as important as | | | | a diligent look at your financial health before it |
| they were when you signed up for them. After | | | | becomes ill! |