Having money problems is quite similar to having a messy house; it’s tempting to sweep those crumbs under the rug and leave the problem for your future self to fix, but you know your house is still a mess. And, in much the same way, you know you still have money problems even if you sweep your mounting debt or unpaid rent under the rug. Facing your money issues before they multiply is the smart thing to do. If you break up the problems into manageable chunks then you can get them out of the way and never have to worry about them again (assuming that you’re more organized with your financial planning in the future). Let’s talk about some of the big money issues that people face and how to solve them.
Struggling to pay bills.
Obviously, you know that the way to fix your unpaid bills or other debts is to pay them off, but that’s easier said than done. Perhaps you just don’t have the funds in your bank account to make your debt repayment or cover last month’s rent, but that can be fixed if you learn how to manage your money more effectively. It all starts with a budget. You need to make a note of your monthly income and then start to calculate your monthly costs. Your goal, of course, is to spend less than you earn. Work out how much money you need to set aside for bills, debts, gas, groceries, and other necessities on a monthly basis.
You should find that cutting down luxury expenses will ensure you can cover the necessities, but let’s say that it’s still hard to pay your bills with your available funds. What do you do? You find a way to reduce your necessary expenses (without turning off the electricity completely, of course). For example, you could reduce the cost of your grocery shop by growing vegetables and fruit in your garden. You could directly reduce the cost of your energy bill by insulating your home so that it’s cheaper to keep it warm. You could even reduce the amount of money you spend on gas by cycling to work or your local town more often. Thinking outside the box when it comes to the way you spend your money could really help you to cover your monthly bills.
A low salary.
For some people, a frugal lifestyle doesn’t help them to fully cover their costs of living. Your salary might just be too low to make ends meet. Still, there are options available to you. The job market might be letting you down at the moment, but you can take control of your own salary in the modern age. You could create a new stream of income for yourself by starting a profitable hobby online. People can make money selling all sorts of services these days. You could sell handmade jewelry or other quirky items on Etsy if you’ve always had a creative talent when it comes to crafting. Or you could start a blog if you’ve always been a bit of a wordsmith and make some money through advertising and sponsorship deals. Your spare time could be used to create some passive streams of income to help supplement your salary.
Of course, everybody’s circumstances are different. Perhaps your salary wasn’t always this low but you’ve been struggling to reach your earning potential as the result of a recent physical issue. Many people find themselves struggling to get the jobs they want because of they’re unable to do the physical work that they used to be able to do. However, if your issue is the result of a recent injury then you might want to consider the financial options on the table. You could be due compensation if you injured yourself on somebody’s property (without trespassing, of course), so you might want to look into slip & fall lawyers. If somebody else is responsible for your money issues because of their negligence then there’s always a legal course of action available to you. Whether you’re temporarily out of work or forced to take lower-paying jobs because of long-term physical damage, you should look into your options. Whatever your situation, there’s always a way to improve a low salary.
Everybody’s financial situation is different, but there’s always a way to fix your situation. It might require a little discipline, but you can make ends meet. Perhaps you could start taking out the cash you need every week and forcing yourself to use that rather than your credit card; it could help you to avoid non-essential expenses.