Is money an area of your life in which you struggle? We know that it’s hard to admit this, even to yourself sometimes, but the only way that you can do something about this is if you’re willing to admit that there is an issue in the first place.
Again, we understand that it might be uncomfortable or something for you to talk about this stuff, but that’s the great thing about reading an article like this, the only person that you have to communicate with is yourself! From our side, we’re just here to give you the advice you need, and you can read it as and when suits you.
That’s exactly what we’re going to be doing today! In this article, we’re going to be taking a look at some of the different things that you can do if money is a struggle point in your life at the moment. Is it going to be easy to make all of these changes? No. Are they necessary anyway? Absolutely.
Is Money A Struggle Point – What You Can Do
Know How Much Money You Get
First thing that we’re going to mention is that you need to know how much money comes into your household at all times. You need to know how much you earn, and if you and your partner share money, then you need to know what they get as well. It depends how you’ve decided to do this though, as the last thing that you want is step on anyone’s toes or for problems to be caused.
The reason that you need to know how much money is coming in is because you need to know how much money there is to pay for everything. There are so many different bills that need to be paid, and you need to know that you can pay them all, what dates they need to be paid, and any other information.
Make Lists Of Things You Need
We also recommend that you sit down and write a list of things that you need at the beginning of the month, or whenever you get paid. By doing this, you then have a more solid understanding of where your spare money needs to be allocated, and it will stop you from having to use money that isn’t actually available for you to use.
By this we mean credit cards, savings, or overdrafts. These are for emergencies only, and a lot of the time if you budget what you have correctly you won’t need to do this. Do not get us wrong though, we are not saying that this is always the case as we know that there are those who struggle more than others.
With this list, you can then work out how much you’re going to need for each thing, and which ones are a priority. Once you have this information, you can then decide what you are going to get this month, and what can wait until next month, or the month after.
Save Where You Can
This one might feel impossible for some people, but it’s important that you try to save as much money as you can to form a security blanket for yourself. Is it always going to be easy? Of course it isn’t. Saving money can be really hard, but there are so many methods of doing this, so one of them might be able to help you.
For example, some people budget the amount they want to save per month into their monthly income so that they know there is money going into their savings each month.
Others who are struggling more financially may just decide that whatever they have spare at the end of the month can be allocated to savings. If you use cash, you can get a jar for your spare change and notes that you have, helping you to save by keeping it all in one place, and not being able to see inside.
Research Before You Purchase
There are going to be times where you want to make a new purchase but you are worried because of the price. It happens all of the time, but that doesn't mean that you shouldn’t be able to have what you want, or in some cases what you need.
It’s for this reason that you should take your time and research before you make a purchase. Stop just buying the first thing that you see, stop paying full price for things when there is no need, and just stop being lazy. If you look online, you will often find incredible deals on a whole range of items, meaning that you will spend less overall.
It’s a good idea to do this for any kind of tech because that it massively expensive these days, not that it’s ever been cheap. But, this is especially important with things like phones because the prices for those are skyrocketing. The good news is that you can compare phone deals on a variety of sites, looking at what sites can offer the best deals, and what ones are no good.
Try To Sort Your Debt Out
Another tough one for you – debt. Talking about debt for some people can be extremely uncomfortable but if we don’t talk about it, how are people going to know what to do to get out of it? And it is possible to get out of, even if it feels as though it’s never going to happen.
The best way to do this is to set up payment plans with your creditors. Now, we understand that people are worried about doing this because they are concerned the creditors will not accept a payment plan, but the large majority of them will simply because they want their money back.
If you are showing them that you are willing to pay at a rate that is affordable to you, as long as you make your payments, most will be happy with this. You can also look into a consolidation loan if you can get approved for one of these.
Essentially, you borrow the sum of all of your debts, pay all of the individuals ones off, and then you only owe the one lump sum to one creditor. It makes things easier to manage, so it might be worth looking into.
Cut Down On Household Bills
The final thing that we’re going to recommend is that you learn to cut down on your household bills. You might be thinking that this is impossible and that you already do this as much as possible, but do you really?
When you walk out of a room, do you ensure that all sockets and lights are off? When you’re finished in the shower, do you immediately turn it off or do you stand there and soak up the warmth? Do you buy more food than you need, ending up throwing a large portion away?
All of these things can be fixed with a little bit of proper management and planning, which will then mean that you can cut down on how much you’re spending.
You Can Help Yourself!
So, there you have it then. These are some of our suggestions as to what you should be doing if money is a struggle point for you at the moment.
We understand that it’s difficult at times, and that every single person’s money situation is different, but there should be at least some pieces of advice on our list that can apply to you. We wish you the very best of luck, and we hope that you manage to sort your money situation out sooner rather than later.
