It can be a drain both mentally and emotionally to struggle each month to make ends meet.
I had to quit my job once and it was at this time that I suffered the consequences of my bad decision-making while I was employed. I found myself in between jobs and struggling to pay bills and obtain the necessities I needed.
No one wants to be stuck in a cycle that includes only enough money to survive with no resources to improve your position. It is easy to give up all hope in this situation. However, there are ways to improve your financial outlook in even the bleakest of times.
Set Financial Plans and Goals
I learned the hard way that this step is totally necessary. I was employed for years with no savings. I made a lot of money but was still living paycheck to paycheck. I had to admit to myself that I was in my present predicament because I never had a financial goal. I was only concerned with enjoying my money with no thoughts of what I needed to do with my money.
Set specific financial goals and then determine in what order they belong.
Live Below Your Means
Credit cards make it easy to spend more money than you can afford. This is another thing I was guilty of. I was the master of bad financial decisions and my credit cards allowed me to continue to dig deeper and deeper holes for myself.
The lifestyle I was living made me stressed out and exhausted. I hated each time of the month when I knew my credit card bill was likely to be in the mail.
I was finally able to realize that I did not have to spend every dime I earned and more each month. Putting a little money back each month for my future does not make me cheap.
Choose Savings Over Convenience
It is easy to get into the habit of eating out instead of cooking or taking an uber ride when public transportation is available. However, after a bit of self-scrutiny, I began to realize how this behavior had negatively affected my financial situation.
The added charge for convenience doesn’t seem like much more than a little extra money when you are enjoying a service. But these charges can quickly add up over the course of the month. It is no big deal to choose convenience on occasion but if your goal is to save money you should do your own shopping instead of reaching out to a grocery delivery service.
I did not understand the importance of financial organization until a short time ago. I began to realize that one of the reasons I was having so many problems was that my financial ‘mind’ was all over the place. Many times I did not know what was due or late until I got a notice either electronically or in the mail. Organize your finances to keep abreast of your obligations and identify chances to improve your financial situation.
Teach Yourself to Ignore Instant Gratification
True health and happiness do not happen overnight. This is just as true in regard to your financial life as it is in all other aspects of your life. Now that you have your financial goals set and your values in perspective, do not continue to ignore long-term improvements for temporary satisfaction.