It is time to make a change when you feel as if you no longer have control over your own personal finances. It is understandable to feel a little overwhelmed by bills, debts, and unexpected costs when they arise from time to time. However, when you find yourself in the position of worrying that your bank account as a whole is slowly dwindling down to zero funds then you know you need to complete rethink your entire approach towards your finances. Here are some tips to help you better manage your finances if you can no longer bank on your bank account to save you from tricky situations.
Be your own accountant
You need to rely on yourself and become your own accountant (you could hire an accountant, but that is probably not an option if you have no available finances now). The bank is not going to ring you up and sort your situation out for you; it is up to you as a responsible adult to extend that responsibility towards your finances. You need to learn how to spend your money responsibly. Make things simple: you earn a certain amount of money each month and you cannot spend beyond those earnings. It really is as straightforward as that.
Make a plan
Calculate the cost of your monthly necessities and the amount of earnings leftover is the amount of money you can afford to spend on luxuries and other non-necessities. If you wanted some help with sorting out your financial mess then you could check out sites such as repair.credit to help you consolidate any existing debts into one single payment. It is all about organization when it comes to getting a grip on your personal finances. You need to put yourself in control rather than drowning in a sea of unpaid bills and letting yourself give in to the urge to spend and spend.
Be self-employed when you get home
Do not quit the 9 to 5 because you need all the financial support you can get now. However, when you get home, you need to be putting your free time into sorting out your financial situation, rather than switching on the TV and burying your head in the sand. There are so many ways to make money through the internet. You could market your skillset because there is a way to monetize everything in the digital age. You could use sites that are popping up like Fiverr to create marketing copy for clients (if you are a good writer) or you could head over to YouTube and make videos for fun over there. Build up a big enough audience and you can even monetize the videos you make, as we talked about in another article. There are so many ways to make money through social media and other online platforms.
Create a jar
A final tip is one that you can interpret in different ways. Essentially, you want to start saving money. It can be hard to remember to set aside money from time to time, however, because life gets in the way and it is easier to just hoard your money in your accountant. However, as suggested over at parents.com, if you create a jar called “emergency fund” or something like that and put spare money into it whenever possible then you might have a nice amount of savings before long.