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How well do you manage your money? If you’re the type of person who lives like a Queen on payday and a pauper by the end of the month then your relationship with money might not be as healthy as it could be.
If your body was out of shape, you’d work it out to get fit again. So why not do the same with your finances? With some lifestyle adjustments, you can get yourself into a better financial position ready for your future.
Here are 4 ways to work your finances into better shape that you can start now!
Facing up to the reality of your situation is the first step in improving it. If you don’t know what your outgoings are or what your income is, it’s easy to spend more money than you have coming in. Creating a budget can help you work out how much you have to spend each month and helps you to be stricter with your savings. Set yourself some sort of goal to help you stick to your budget and watch as your attitude to money begins to change.
2. Save, Don’t Spend
Cutting back on your spending will help ensure you’ve got some savings for a rainy day. Having some savings will make you feel more secure, and put you in a better financial position for applying for an auto loan or another type of finance option. Think twice before spending money on impulse purchases – most of the time you don’t actually need what thinking of purchasing.
3. Cut Down Expenses
Do you have a lot of outgoings? You could cut them down to leave you with more money to see you through the month. Negotiate with your utility providers to offer you a better deal or switch to a provider that provides the same or better service for less. Even knocking $5 off a monthly bill can turn into $60 over the course of the year, which can go straight into your savings. Cut back on anything you no longer need like a gym membership and try not to take out any more regular payments while you’re getting your finances in check. If you’ve joined a multi-level marketing company with hopes that you’ll make an income from home, you might want to read this post before you waste any more money on it. I’ve been there, done that, and you’ll likely end up spending more money on the company’s product than you will bring in as a profit.
4. Embrace “No-Spend” Days…or Months
Nights out on the town can be expensive, but you’ll justify the cost because you had fun. However, there are plenty of ways you can have fun spending half or even none of the money you’d spend on a night out with your friends. Learn to have a no-spend weekend once in a while to help your finances catch up with you. That way, when you do go out – you’ll appreciate it much more because you earned it.
Saving money can be tough, but with your financial future on the line, you need to make some changes. Whip your finances into shape by adopting some better habits and watch as your attitude to money, and your savings grow. It’s never too late to start, so think of where your finances could be in a month if you start today?
I’ve done all the things! Girl, I’ve washed my face. I’ve trashed everything that doesn’t spark joy. I’ve walked the baby steps. I’ve cried. I’ve prayed, but my perfectionism has really held me back.
Perfection Hangover can be crippling. Stop comparing yourself to others and start living your best life! That’s why PH exists! I want to encourage you to take control of your money, your blog, and your business.