You stare at your bank account balance daily. Sometimes you check it twice a day just to check it hasn’t miraculously increased. There is nothing worse than that sinking feeling of realising you’ve overspent once again. Your stomach drops and feels as if it’s been squished by a tonne of bricks. You feel trapped and unable to escape the vicious circle of income and outgoings. As soon as you feel on top of things another bill hits you like an unexpected bus. You don’t need to live your life in fear like this, just take the steps you need to get back on top. You will be sailing your way to financial freedom in a flash; all you need is a plan.
Before you can start planning your financial year, you need to get a hold of the problems you’re facing with your current debts. Consider looking into debt consolidation programs, which can help you to combine your debts into one manageable payment. You might need to spend some time planning your payment plan if you are a fighting to pay off a large sum. Try not to fall into a never ending pit of despair; everybody has been in a position where they feel trapped by money, so don’t panic. Be rational with your decisions when paying off your current debts and once you have a handle on it you can begin to focus on your future.
We all wish that money will never be one of our worries again, but it is an aspect of our lives that we cannot escape. No matter how much you are earning, you will always think about where your next paycheck is going and how you’re going to get through the month. With a bit of planning you will feel on top of your money and you will be able to make the best decisions for you. Get a diary and write down your monthly outgoings, including rent, bills, groceries and any other essentials. These are the payments you won’t be able to decrease much, so make sure you feel comfortable in making ends meet. Then make a list of all the extra things you usually invest in each month. Could you possibly cut down on any luxuries? We all want to live like queens, but it isn’t always feasible. Make sure you’re living by your means and set yourself a budget for treats so you don’t lose control.
Your Financial Future
You are in charge of your own future, so take ownership and know your financial strategy. It’s a boring topic to be constantly thinking about, so don’t let it consume your life. Get ahead of the game and soon you won’t even have to think about it.
Money is such a tricky topic to tackle, so always be kind to yourself. We all make mistakes in our lives so don’t punish yourself for anything. Take ownership and you will soon be ready to conquer again!