If you aren’t the best at budgeting, or if you have a history of mismanaging your money, I want you to know it’s never too late to fix your situation. The only difference is that you have to want to change in order to better your circumstances. If want to start fresh but aren’t sure where to begin, I am going to provide you with easy ways to turn around your finances.
Set financial goals
Setting goals and writing them down are a way to visually psyche yourself up to change. Goals such as paying off your credit cards or other debt, purchasing a home are examples of various goals that you can work towards. Setting financial goals will help start you on the path to being financially secure.
Creating a budget (and sticking to it) can help drastically improve your financial situation. When you budget, it allows you to track the amount of money you have coming in, and the amount of money you have going out. By writing out a budget you will be able to understand more of where your money is going and begin on work on distributing it wisely.
Increase your income
If you are struggling to make ends every month, then more than likely when it comes to meeting your financial goals you will struggle as well. While getting a second job isn’t always an easy one size fits all solution for everyone, there are plenty of ways that you can begin to make extra income, a lot of those ways can be done right from your cell phone.
If you’d prefer not to spend a lot time doing work from your cell phone, there are plenty of companies that hire for work at home jobs. If this seems like a better fit for you, be sure to check out the part time and seasonal opportunities that are available.
Another option is also driving part time for Uber or even Lyft. If you are looking for ways to supplement your income, there are literally hundreds of ways you can do so.
Start an emergency fund
It is recommended that you build up an emergency fund equivalent to at least three months to six months of discretionary expenses. An emergency fund can be a life saver, especially when unexpected expenses come up, in the event of job loss, or other significant need for money arises.
Check your report regularly
Checking your report often is a habit that you should start immediately if you have not already been doing it. You don’t need to necessarily check it every month, but at the very least once a year. This will help you keep track of ensuring that your report is factually correct so that you can catch any errors as soon as possible. This will also help you be aware of any instances where you may be a victim of identity theft.
I understand it can be difficult getting out of debt. But it starts with changing your mindset. Once you tell yourself that you can and will do it, it will be easier to begin to formulate a plan to make life better.
Love of impromptu dance parties, 80’s cartoons, and horizontal life pauses (aka naps); Natasha Brown is a stay at home mom of 4 kids, and wife to one lucky guy! In her spare time, she is co-editor of Grits & Grace, as well as editor for The Mother Hustler Blog and Creative Director for the Mother Hustler podcast.