With the shutting down of businesses in Ohio, you may find yourself in a situation where you need to cut some expenses quickly to make ends meet. Here's a brief list of things you can do in the short-term to give your budget a boost.
Cut back/bundle phone and internet services
When spending a lot of time at home, phone, TV and internet are of course pretty important, but there may be deals with your provider to bundle those services into one lower payment. Or, get rid of cable all together and get a cheaper streaming option, such as Sling TV. Phone carrier pricing can also vary widely. you might be able to save $25-$50 per month by switching providers or dialing down the amount of data you pay for each month.
Consolidate your debt and lower interest fees
According to debt.org, the average US household with a credit card has a balance of $16,425 with an average interest rate of 16.49%. Sometimes paying less interest is just a matter of picking up the phone and calling your card company to ask for a rate reduction. Or, consider taking advantage of a low interest introductory offer and consolidate your high interest balances from other cards into one lower payment that you'll pay off faster.
Reduce your insurance premiums
Debt.org recommends shopping through an independent agent who will compare prices and policies for you. It's often cheaper to bundle auto and home insurance through one company. And, if possible, raise your deductibles. There can be a substantial difference in the monthly premium between a $250 deductible and a $500 deductible.