Cutting costs, stress from your life

VIRGINIA BEACH, Va. (WAVY) - By putting aside money when times are good and doing a little financial housekeeping when times are tough, you can save yourself a lot of stress.

On Virginia Beach Boulevard, there is a sign of the times. Handyman Mark Allen advertises that he is looking for work. His number is spray painted on a large piece of wood because he wants everyone to know.

"I can't think of any other way outside of a life of crime than to come outside and do this," said Allen.

Allen says he recently had to trade down his lifestyle.

"When the bottom fell out of the construction industry my ship sank as well," said Allen.

Allen surfaced with something more cost effective than an advertisement in the yellow pages.

"I got 27 more days to come up with the rent or I'm [going to] be homeless again. I'm not having fun doing this but hey what do you do," he said.

Zaugg Financial Group President Gary Zaugg tells 10 On Your Side: know where to cut corners and where never to skimp.

"Health insurance, life, disability, homeowners insurance are things that you really want to hang onto," said Zaugg. What might seem like a giant savings up front could cost you much more in the long run.

Most of us know we can save by cutting back on discretionary expenses like shopping, but Zaugg says also examine your fixed expenses.

"In your car insurance, towing on there might not cost very much, but you also have a AAA card you're paying for so you might have double coverage," said Zaugg.

"I got rid of an insurance company I've been with five years just to save an additional 10 dollars a month," said Allen.

Zaugg's top tip for 10 On Your Side viewers is to have a cash reserve.

Allen says he did, but it wasn't enough.

"There's no more money coming in but you're still shelling out."

Facing the same monthly bill bump and grind as the rest of us, he hopes his next job will find him. "You never know something good might happen," said Allen.

10 On Your Side has a long list of financial assistance resources. Financial Planning Association : Great self help articles and web resources. At the bottom of the page is a link to get pro bono financial help. Also can reach pro bono through the contact us link.

211 Virginia : State wide search for resources. There is a wealth of resources listed by topic: (example: housing, financial, childcare, food, etc).

Virginia Saves : Formed in January, a savings campaign sponsored by the Financial Stability Coalition of South Hampton Roads. Virginia Saves recently sponsored a Financial Fitness Fair at Military Circle mall to connect people with free financial planning, credit counsel, savings ideas, and free tax preparation.

South Hampton Roads EITC Coalition : Free tax return preparation for families making 49,000 or less. Schedule an appointment for free tax preparation.

Virginia Individual Development Accounts : Offers $2 for every $1 saved for education, first time homeownership and business startup. Limited to low income families.

Access Partners : Offers insurance/healthcare alternatives, dental, and prescription drug resources.

The UpCenter :  Regular monthly financial education classes and first time home ownership classes.

Crown Financial Ministries :  Has about 30 trained budget coaches that work in this area (Peninsula and South side).

Clearpoint Financial Services : Formerly Consumer Credit Counsel--they have a broad range of services and debt counsel for families in financial distress.

Catholic Charities : Debt and Credit counsel; foreclosure prevention.