Personal Finance News Wednesday 8/22

Phil's Personal Finance Tip of the Day:

Pay These Bills First
Yahoo! Finance – Mon, Aug 20, 2012 11:31 AM EDT

Can’t keep up with your bills? On average we receive eight to 10 statements per month. Paying them all in a timely manner can be challenging, but keep in mind -- not all bills are created equal.

Here’s how to best navigate your monthly expenses and give your budget some much-needed breathing room.

Prioritize Real Estate Taxes

To begin, paying for the roof over your head should come first and, beyond your rent or mortgage, your real estate taxes ought to be a top priority. Default on this tax and your municipality can issue a tax lien, putting your home on the line. In some cases, low-income seniors and veterans can build breathing room by entering a property tax deferral program through their local county or state.

Address Your Auto Loan

Don’t mess with your auto payments, either. Fall behind and you could face a repossession after just one missed payment, depending on the terms of your loan, and no car means possibly no transportation to work -- yet another problem. If you need help, ask your lender to extend the length of the loan to reduce your monthly statement or ask about refinancing. The average rate on a 4-year auto loan is roughly 3%, according to Bankrate.com.

To read the entire article from Financially  Fit/Yahoo Finance:
http://finance.yahoo.com/news/pay-these-bills-first.html


Scripture of the Day from Dave Ramsey.com:
2 Corinthians 6:17 — Therefore, come out from among them and be separate, says the Lord. Touch no unclean thing and I will receive you.
 

Please listen to the Dave Ramsey show live on WOR 710 from 2-4 PM EST. You can also listen to the 3rd hour 4-5 PM EST. at Dave Ramsey.com.