Who wouldn’t want to stay in a good neighborhood forever? It’s where you had your best memories. It’s where you started a family. You saw changes and lived through the worst. You may have changed, but your address hasn’t.

What if that’s threatened because you’re falling behind on mortgage? Rather than lose your home, do the following:

Refinance the Property

You’ve been in the same house for years, and you might not want to make the move, but with prices skyrocketing, you’re starting to consider it. You think there’s no way you can afford the mortgage anymore, so you have no choice. But you do. If you finda mortgage refinance rate in Salt Lake City that’s cheaper than what you’re currently paying, you can cut back on this part of expenses. And let’s admit it, the mortgage is where most of your monthly budget goes. With it being more manageable, you don’t have to pack those bags just yet.

Ask for a Promotion

Man promoted at his jobYou’ve been with your company longer than you’ve been in your house. One pays you steadily, and one requires mortgage payment every month. However, your expenses have increased significantly due to changes in the family, and you just can’t make your salary fit. It wouldn’t be preposterous to ask for a promotion or a salary increase and even if you’re sure you’ll be rejected, ask anyway. This sets you up for your next meeting where your request will more likely be granted. Should you choose to do this, prepare for the meeting. You don’t want to just ask without justifying why you deserve it. Mention the responsibilities you’ve taken on and name an amount you’re expecting to get.

Cut Back on Luxury Purchases

You’re following the mantra to dress for success if you buy new clothes every week. And these aren’t just any clothes either. You like to cover yourself in designer brands, which makes credit cards handy, but only until you see your statement. While the purchase can be covered by your salary, if you pay late, that means paying for interest as well. That’s an expense you didn’t benefit from, but it will continue to plague you until you pay in full. If you must buy clothes, pay in cash so you feel how expensive your purchase is. It’s something you don’t realize when paying using a card, as all you do is sign the slip and go home with shiny new bags.

Be Self-sufficient

It might be hard to say no to a shopping spree when you feel like you’ve earned it, dent in your savings be damned. Any plans for change will only be successful if you commit, so if you can’t go cold turkey on shopping, admit it and find other ways to save. One solution is to start a backyard garden, so you will have herbs and vegetables ready. This can easily cut your grocery bills, and they’re grown just the way you want them. You may even sell them to neighbors to get additional money from such a small change.

There’s no attempt too small when it comes to saving more money. If you don’t want to lose your beloved home, take these sacrifices to heart.