Check out the 5 financial tips for the 4th week of October:

Tip no 1 - Wait before you sell your home as the real estate market has yet again tumbled.

The real estate market has tumbled yet again. The mortgage rates are record low. The foreclosure rates are high. The price of the houses is not good either. So, if you do sell your beloved abode now, then you are most likely to get much less than what you have paid for acquiring this house. For example, you have purchased the house at $450,000. The fair market value of the house is $250,000. This means if you sell the house, you'll be getting $250,000. Your total financial loss will be $200,000.

If you’re going through financial difficulties, then rent out your home instead of selling it. This will help you raise your cash-flow without selling your house.

Tip no 2 - Use smart meters to monitor your electricity usage.

Replace your old meters with the smart meters, and check it regularly. This will help you monitor your electricity usage daily. These meters assist you to monitor your electricity usage online. The usage is displayed through graphs and charts. So, you can understand them quite easily.

The biggest benefit of smart meters is that it helps you get correct electricity bills every month. You can monitor your electricity usage through your computer, and have a clear idea about your bill amount. There won't be any costly surprises when you get your bill.

Tip no 3 - Defer student loan debts when you are unemployed.

Have you been unemployed for more than a month? Are you busy in giving interviews at various companies, and thinking at the back of your mind about how to pay off your student loan debts? If yes, then you should know that you can defer your student debts. Call your lender and inform him that you are unemployed. Notify him that you want to go for economic hardship deferment.

Economic hardship deferment will help you postpone your payments, and stall the interests from increasing when you're jobless. The best part of an economic hardship deferment is that it won't decrease your credit score. So, you can take advantage of this option without hurting your credit in any way.

Tip no 4 - Live with your friends or parents when your house is foreclosed.

Have you lost your beloved house to foreclosure? If yes, then you must be searching for a new home where you can live with your family. The rents of the new homes are quite high nowadays. Tenants have become quite demanding nowadays. They refuse to rent out homes at a moderate rate. So, if you can't afford to rent a house at an exorbitant rate, then you may move back to parent's house with your family. Parents love you unconditionally. They will agree to share rooms with your family without any hesitation and rent. This will potentially help you save a considerable amount of money.

Tip no 5 - Get help of unemployment benefits when you are unemployed.

If you have lost your job and haven't yet secured another one, then it is better to get help of the unemployed benefits. You may feel shy to visit the unemployed department of the government when you are without any job. However, you need to remember that it is better to take advantage of the unemployed benefits rather than living without bread and better.

Drive to the unemployment office, and get to know about the benefits you can get from the officials. It will take some time to complete the total process. So, it will be a mistake to not apply for unemployment benefits immediately after losing your job.