How frugality helps with augmenting the debt consolidation process
Debt consolidation helps you to pay down debts, without you having to feel the pressure of making several payments in a month. However, with the constraint in job being so high, it is just as important for you to save money, as it is for you to pay down debts. However, in making the debt payments even through debt consolidation and managing the everyday expenses, you may be left with almost little or no money for savings. Thus, it would be wise of you to follow a frugal budget, so as to lower the level of your expenses.
Going frugal can be fun
Going frugal – how hard is that a job; you must be wondering. If you really want to save money, it is better to try out frugality. And, this it can actually be fun. For, when you will be able to find more money in hand than usual, it would be nothing but a pleasurable feeling for you. Moreover, if you find some extra money in hand, you may easily be able to pay down the consolidated debt, even faster than usual. This again can help you save more money on debt payments (a possibility mainly with regards to balance transfer and loan consolidation).
When you transfer the balance from all of the credit cards with high interest rate to a new credit card, with 0% balance transfer offer, the interest rate lowers. However, this is just a limited period offer, as it is going to end after some months or may be a year. So, if you fail to pay off the consolidated debt within the offer period, with the introduction of the interest rate, it may become tough, yet again, for you to make the payments.
So, it is obvious that frugality helps you with paying down debts through debt consolidation, even more easily than before. Now, the question is how can frugal be fun? Trying out new dishes can be fun for those who love experimenting. In case of frugality, you can save money mainly through grocery couponing. So, you may be required to plan the weekly meals based on the grocery you will be able to buy using the coupons. Thus, you may have to think of new dishes.
Again, getting more at same price is a fun thing too. For example, you can save money on gasoline if you buy gasoline either after evening or in the early morning. This is because, weather remains cool during these times, and gasoline remains dense in cold weather. Thus, you will be able to get more for the same price. These are some of the little things that can both be fun, and can help you save money too.