In tough economic times, it is all too easy to find yourself suddenly having financial problems. Whether your bills are piling up, you have debts you can't pay, or you are looking for ways to earn more money, this advice can help. Keep reading this article to learn some great financial tips.

Don't ever cosign on a loan for a friend or family member unless you are financially able and emotionally willing to take on the entire amount of the debt. Being a co-signer does not mean you are vouching for the trustworthiness of the other borrower; it means you are taking on responsibility for the loan if the other party fails to pay.

Make a list of your monthly expenses. Sit down and make a list of everything that you are spending your money on. See if you can cut some things out. For instance, do you really need that daily coffee at the coffeehouse? Finding where you can cut expenses, strengthens your overall financial picture.

Use cash or a debit card instead of a credit card, especially when purchases are small. This will save you money in interest if you are someone who does not pay credit card bills in full every month, and will allow you to purchase from vendors who may not take credit cards for small amounts.

Spend less than you earn. This may sound obvious, but far too many people try to live beyond their means to keep up with the wealthy. Spending more than you make can negatively impact your financial history. Try to live within your means, and you may eventually find that you come out ahead with what you save in the process.

If you are a member of any groups such as the police, military or a car assistance club, ask if a store provides discounts. Many shops offer discounts of 10% or even more, but not all advertise that fact. Prepare to show your card as proof of membership or give your number if you are shopping online.

Unless you have no other choice, do not accept grace periods from your credit card company. It seems like a great idea, but the problem is you get used to not paying your card. Paying your bills on time has to become a habit, and it's not a habit you want to get away from.

No matter what sort of financial difficulties you may be having, the tested advice you have just read can help. There is no substitute for knowledge when you are having financial problems. Once you start putting this advice to work in your own life, you will soon be able to resolve your financial problems.