We all need a financial checkup from time to time. Getting to grips with your money will not only improve your financial health, but it will serve you well physically and emotionally as well. Because let’s be honest, most of us have suffered in some way because of money worries, mainly due to the symptoms of stress. So let’s look at some of the things you can do today to improve your finances. By doing so, you will give yourself a better tomorrow!
Start A Budget
Start a budget and work out how much you have coming in and then you will be able to make better spending decisions when you know what you can reasonably afford to pay out each month. Who knows, you may finally have money left over to pay for those things you really want, rather than struggling to survive until the next paycheck comes in.
Take Control of Your Debts
Falling into the debt trap sucks, as most of your earnings go towards paying back your creditors, with their high-interest rates, and threatening letters of court action. You can’t bury your head in the sand hoping they will go away – you need to find a way out. Budgeting is definitely the way to go, as already mentioned, as is consolidating your debts with a reputable debt relief company.
Lower Your Monthly Bills
Gas, electricity, water… if you’re sick of the pitter-patter of your friendly neighbourhood postman coming down the path with his fistful of brown envelopes, it’s even worse when it’s clear there is a red letter inside!
Take charge of your bills, and stop getting ripped off by unscrupulous utility companies. When it comes to your gas and electricity, you can use a price comparison service to get yourself a better deal, and then start lowering the price of all your utility bills by adhering to good habits around the home.
Start Making More Money
You don’t have to get a second job to make extra cash. There are loads of things you can do, from learning and making printables, and taking part in online surveys to selling on eBay anything around the home you are no longer using.
Once you start seeing more money come in, don’t squander it on something you don’t need, but rather put it in your emergency fund (or start one if you haven’t already), giving you the means to deal with any crises that may arise in the future. Better to be safe than sorry, after all.
Have a No-Spend Day
Have a no-spend day, or if you are particularly strong-willed, continue this into a no-spend week or a month! This is where you don’t spend any money at all, curbing the temptation to buy more stuff you don’t have room for anyway, and only eating the food you already have in your pantry and refrigerator.
Of course, you will still have to pay your bills if they are due, but as for anything else that isn’t a priority, keep that padlock on your finances, metaphorically, or even literally if you really need to!
So, there we have it. 5 things you could feasibly do today. You will be financially better off if you put into practice even one of these ideas, so start thinking about what you can do today.