Monthly Tasks to Reduce Your Debt

photo credit: SqueakyMarmot

A recent post at the very hands-on No Credit Needed blog gives a great checklist of what the writer does every month to ensure he becomes or remains debt free. Certainly, some of these monthly tasks could help all of us to reduce our debts, and here are some highlights from the list:

• Check through your house for items that are no longer in use that you could sell, for example on eBay. Doing this monthly will usually unearth at least a few items to make some extra cash from.
• Call your credit card companies once a month to ask for an interest rate reduction. It never hurts to ask and can save you heaps if they say yes.
• Go shopping for seasonally-related specials - for example, at the end of winter, buy boots or coats that you’ll need for the next year, while they’re on special; in January, buy Christmas cards to send the next Christmas.
• Check your air-filters on air-conditioning units and replace them if they are clogged up, because if they’re running harder than they need to be this will be adding to your electricity bill.
• Go through your regular bills (especially your phone bill) and check for any irregularities or unusual rate increases, and call the company to check them out.