Most people find money incredibly difficult to talk about, but the reality is, we’ve got to talk about it! I recently had a come to Jesus moment where I realized how incredibly bad I am at managing my money. It’s such a difficult thing to comes to terms with, but it’s true. Since, I’ve had that realization, I’ve been trying to find ways to change my bad habits.
Perhaps, like me, you always seem to think you have more money than you do, or you forget to pay your bills on time? No matter what applies, if you feel like you do not manage your money particularly well, this blog post is for you. Read on to discover some of the simple ways that you can be better with your money.
1. Have a budget – There is only one place to begin, and this is with creating a budget. If you do not have a budget, you will never know how much money you have available each month, and this is bound to result in you living beyond your minds. Your budget does not need to be elaborate. You simply need to make sure it details all of your incomings and outgoings every month.
2. Contribute to your savings regularly – It does not matter whether you are saving for anything in particular or not, it is a good idea to contribute money to your savings on a monthly basis. This will ensure that you are able to build healthy financial habits and that you have a good chunk of money for any emergencies.
3. Track your spending – Tracking your spending is a good way to get an understanding of what you spend your money on every month. A lot of people are surprised to see how much they spend on certain things. This is a good way to become more responsible with your cash.
4. Search for a voucher code before buying anything – Before making a purchase, do a quick search online to see if there are any voucher codes available. Most stores online today offer discounts and special deals for their customers – you simply need to find them. It is also a good idea to use comparison websites to see if you can get the item in question elsewhere for a cheaper price.
5. Only borrow money when necessary – There is no denying that the likes of advance loans can be very helpful in certain situations, but you should not just lend money for the sake of it. Just because it is offered to you does not mean you should take it. However, if you find yourself short until payday, this is when a loan can come in very useful.
As you can see, it does not take a lot of effort in order to make a big difference in terms of managing money. If you follow the advice that has been presented above, you should find it a lot easier to manage your money effectively and have complete peace of mind.
Photo by Nick Morrison