Billing Blues – 5 Strategies to Help You Cope When the Bills Pile Up
3 minute read
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There’s no stress stronger than that of looming money problems. The stress that permeates all facets of life. In order to get your finances under control, you have to take certain steps and work diligently towards your goals. Here are five strategies to help you cope when the bills pile up:
Good debt, bad debt. Nobody wants it. However, sometimes debt does happen and it is important that it is managed with a game plan in mind. When you do need to take out money loans, be sure to read the fine print so you know what to expect in terms of repayment. Never sign anything until you know the deal inside and out. This will keep you from hefty surprises down the line that can hurt your credit, your income, and your quality of life.
This one definitely isn’t sexy but budgeting is an important step towards good financial health. By tracking all the money coming in and going out, you are better able to control your bills and how fast you are able to attack them. Budgeting not only shows you your income and expenses, but you are able to tailor these numbers so that the high interest rate debts are eliminated quicker. You are also able to see what your spending habits are. Challenge yourself to cut down on excess spending. You’ll soon realize you have more money than you think to take on those bills, without taking on a second job.
Minimalism isn’t just a millennial trend. It has profound benefits. One of which being saving some serious money. By eliminating the habits of excess shopping or collecting, we are able to save money that is better spent on bills. In the process of getting rid of the things you no longer use, you are also able to sell valuables that can help you get control of your finances. Money in the bank and space in your home? There’s a win win that can’t be beat.
Eat at home
This could be argued as a subset to the budget strategy, but eating at home saves so much money that it deserves its own category. Cooking homemade meals time and time again beats the price of eating out and delivery meal services. Although the latter seems enticing, with all the pre-cut and measured ingredients ready to be plopped together, the art of cooking shouldn’t be underestimated. Whether you are a novice or experienced home chef, you can find ways to keep you belly full and your wallet fatter.
Schedule in fun
Loans, budgeting, selling your stuff, and never eating out can easily be added to the list of stuff that loses your mind. That is why it is important to schedule in fun. Hard times don’t have to be drab and soul-sucking. Find cheap or free ways to enjoy yourself while still making major gains against the bills that trouble you. Take a vacation with family members to cut cost. Visit free museums. Celebrate your hard work with dinner out on a night kids eat free. Find ways you can have fun without undoing all of your hard work. Just because it isn’t the Ritz, that doesn’t mean you can’t find joy.
Bills can be overwhelming and feel too big to manage. But these five strategies are there to help you remain in control, tackle the big debts, and have a little fun in the meantime. What strategy are you going to try today?