Small Changes You Can Make To Your Daily Life To Stay Out Of Money Trouble

| September 5, 2016 | 0 Comments

Staying out of money trouble is so important as it can affect your health and your relationships. It’s a sad fact that financial stress is one of the leading reasons why people end up getting divorced. And it’s easy to get into financial stress if you are not being careful with your spending. You need to be keeping an eye on your finances daily so that you can stay in good financial order. Here are some small changes you can make to your daily life to stay out of money trouble.

Create a budget for your weekly spending

When you get your pay through from your employer, you need to pay out your rent and bills straight away. Whether you put the money into a different account or in your savings, it needs to be away from your current account. With the remaining money, you need to create a plan for how much you can spend week by week. That way, you won’t end up going over your budget for the week and get yourself into money trouble. As this article says, you can adjust your figures and spending habits if your pay changes over time. But sticking to a budget will ensure you stay out from debt.

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                        https://pixabay.com/en/calculator-pen-block-business-1516869/

Don’t rely on your card for transactions

It’s so easy in the modern world to get out your card to make transactions. But relying on our debit and credit cards means we aren’t keeping track on how much we are spending. We just put the pin in and then leave the shop with our purchase. Therefore, you should always carry cash around when you head out on a shopping trip. It means you can easily check how much you have spent so far. That way, you know how much you have left remaining for the day. It means you can limit your spending on the shopping trip and stay out of debt!

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Always ask for a receipt

A lot of shops are now asking whether people need to have a receipt as they are trying to save paper. And a lot of us say no so that we don’t end up with a ton in our bag. But it’s so important to get a receipt as it will help you when you are going through your transactions at the end of the day. You can easily check what you bought and where from if you do get a receipt. If you don’t get one, you could forget you made the expensive purchase and then end up getting in money trouble. Therefore, always say ‘yes’ when they ask you if you want one!

Take a packed lunch with you to work

When we work during the day, it’s easy to be tempted to head out to the store to get lunch. After all, they do look tempting when we only have a ham sandwich with us in our bag. And it can be hard to resist when other staff is urging you to go. But even eating out at lunch time can end up costing around $40 a week! Therefore, you should make sure you take a packed lunch with you to enjoy instead. If you are finding your lunches boring, you can find inspiration online for delicious lunches that will keep you full during the day. Even if you cut going out to once or twice a week, you could save yourself from getting into debt!

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                                    Public Domain Images

Always think twice before buying an item

Impulse buying is one of the top reasons why people end up spiraling into debt. After all, it’s very easy to walk past a store and spot a great dress. You then make the impulse purchase without thinking about whether you can afford the item. Therefore, it’s so important to stop and think twice about whether you can afford to pay out for the item today. You should consider everything else you are saving for and whether it will be affected by buying this item now. That way, it will stop you making an impulse decision that you will regret later.

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                                                            Pixabay

Move money over to savings every day

It’s so important to have a savings account that you transfer money over to daily. That way, if you are saving up for a large purchase, it’s easier to have the money in one account. You will also have a good interest in a savings account so you will be building up money while it’s in there. To stay out of money trouble, you should move something over there to your savings at least every day. That way, you will be building up an amount that can help you on a rainy day or go towards your mortgage in years to come. Try and stick to it the best you can. As this article reveals, if you can’t afford to put money over for a week, then commit yourself to putting more over the following week to make up the money.

Pay bills soon as they come through the door

You might be surprised to know that household bills are one of the top causes for people getting into money trouble. Utility bills can end up costing you a fortune if you are not careful with your energy and water usage. To ensure you don’t get into trouble, you need to pay for them as soon as they come through the door. That way, you won’t end up in money trouble when the bills start racking up. If you can’t afford to pay them, it would be a good idea to talk to your provider about reducing the payments on the short term. That way, it will help you to get back on your feet. Otherwise, you could look into getting short term loans to help you pay the bills. That way, it will stop you getting into further trouble with your providers! Just make sure you can afford to pay back the loan before agreeing to take it out!

Cook something rather than dine out

After work, it’s so easy to decide to order a takeaway or go out for food, rather than cooking some dinner. After all, the last thing you want to do is prep lots of ingredients for an hour after working hard all day. However, eating out regularly will end up costing you a fortune. The average American spends over $232 on eating meals outside their home! It’s a crazy amount which could go towards your mortgage or household bills. Therefore, you should try and cook more food. To make it easier, you should prepare food the night before, so that you can just pop it in the oven when you return from work!

Always pay back your credit cards straight away

Credit cards are often the cause of getting into debt for most people. You get one and start spending, and before long, you are signing up for another one. As we talked about before, you should make sure you are only using the credit card when it’s necessary. Otherwise, you will end up with lots you need to pay back. And the longer you leave it till you pay it off, the more the interest will rise, and it will soon become overwhelming. Therefore, always pay back your credit cards straight away and think twice about what you are using it for. After all, credit cards are useful for building up credit if they are used correctly!

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                                                Image Credit

Remember to have a night in every now and again if you want to stay out of money trouble. As tempting it is to go and watch a new movie at the cinema, it will save you some money staying in and watching a movie on your TV screen!

Category: Personal Finance

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