Get Your Finances Under Control In One Day

What’s the secret to being in control of your finances? Well, here’s the thing…there is no secret! In most cases, it’s just a matter of taking the time to look through your financial situation, make some subtle changes, and then carry on with your life. And these steps don’t have to take forever to enact. Indeed, if you were so inclined, you could grab a handle on your finances in one day. So put on a pot of coffee, get comfortable, and get ready to make your life a little bit better.

Analyze the Outgoings

If there were one golden rule when it came to money, it would be this: make sure you’re not spending more than you earn. It sounds simple, because it is! If you follow this rule, you’re unlikely to get yourself into too much difficulty. Alas, most people don’t have a good understanding of how much money they spend in any given month. Make a note of your rent, food bills, monthly payments, and so on, and see what it comes to. Is it more than you earn? Then something has gone wrong…but you can still fix it!

Get Monthly Spending Under Control

One of the reasons why people lose track of their monthly expenses is because, well, they can be difficult to keep track of, especially if we have multiple payments to make. For starters, take a look at; it’ll put all of your debts into one manageable payment. From there, take a look at your automatic monthly payments, and see when they’re leaving your bank account. You might think you have plenty of cash, but then you five automatic payments leave your account on the same day, which puts you in financial trouble!

Look at a Savings Account

No matter how poor your financial situation might look, it’s always worth opening a savings account. Even if you only start with, say, $5 a week, the act of building up your cash will get you into the habit of tucking money away. You can always increase the amount that you’re saving in the future. A savings account might seem a little strange when you have so many other bills to worry about, but it’s one of the best things you can do. In no time, you’ll have a small nest egg of cash!

Other Sources of Income

Most people think that the only cash they have access to is the money they get from their employers. This is seldom the case. People have many more sources of income; it’s just that most people don’t know they’re there! You can rent out a room in your house, or sell one of your skills to a beginner in the form of teaching, or sell your old junk. There are always ways to boost your bank balance, and some of these ways can also be fun!

It takes guts to face up to your finances. By taking the above steps, you’ll be on your way to a brighter financial future.


Arnel Ariate is the webmaster of Money Soldiers.

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