Ways to Get Your Finances in Order
It is the best of times, it is the worst of times; it is the age of great technological advancements, it is an economically-challenging age.
Did you know that the average personal savings rate in the United States is only 5.5%? This hardly comes as a surprise, since many are just trying to make ends meet. If you too feel like it's impossible to get out of your financial struggles, we're here to present you with several things you can do now and see your bank statement improve the next month already!
Find time for a side-job
There are cases when people are just "bad with money"; but the truth is, we can usually blame the low income. That's why we propose getting a part-time job, one with flexible work hours, and one that will not disrupt your current schedule. It's advisable to find something different than your full-time job so that it would feel less monotonous.
Certainly, you will look for something you're qualified for, so it's likely to be a similar profession, but think about it this way – if you're working as an English teacher in a local elementary school, going home to teach additional classes might just be a tad too much. Instead, you might consider finding a copy writing gig or something along those creative lines.
Get bank credit
Quite often, not even a second job will be enough to get you through rough times, especially when you need a quick fix. In that case, you might want to turn to bank and get a loan, but what if it turns out you have a low credit score? That's when you should contact experts from Clean Credit and see what you can do to repair your credit history. For future notice, always consolidate your debts and ensure your payments arrive in time.
Put an asset for sale
Look around your home – is there anything fairly valuable that you are not really using, or something you can live without? Selling an item or two can in some cases even reduce your expenses, for instance if you have two cars and one is always parked in a garage; you keep servicing it and renewing the license, but do not really drive it after all. Furthermore, you will finally get the money you so desperately needed and put it to good use. Evidently, you’re looking at a win-win situation.
Do whatever you can on your own
Just think about it – were there any home emergencies like broken pipes, clogged drains or electrical issues you could have resolved on your own, but chose to hire a professional instead? When times are hard on your wallet, you might want to roll up your sleeves and do something yourself for a change. Of course, if you feel like you are skilled enough; alternatively, you can do more damage than good. In such cases, hiring a professional is definitely a smarter (and sometimes even more profitable) choice.
You do not have to stop there – have you ever thought of growing your own food? Not only will it prove to be much more cost efficient in the long run, but you'll also contribute to your health and the well-being of your family.
Let some luxuries go
Under no circumstances should you save money on food while you're stuffing your closet with expensive shoes or spending money on a luxurious spa weekend. Until you stabilize your finances, you might want to skip shopping for Manolo Blahnik – Carrie Bradshaw got away with it, but it's highly unlikely you will as well.
The bottom line is, your finances will not go through the roof over night; you'll have to implement the above mentioned techniques and stick to them for a while.