Have you ever had to say I’m Broke? Well if you have this is for you. You’ve got money problems and you can’t figure how to crawl out of the hole you’ve dug for yourself. The bills keep stacking up and try as you might to pay things off, your bank account is going further and further in the red with each passing day. You just cannot seem to find a way to pay your bills. What can you do to kick your bad money habits once and for all? Hire a company to consolidate your debt into one easy payment? Go on a spending detox?
Although each solution provides positive outcomes, you need to build a better relationship with your finances not just bandage the crack in your piggy bank.
Here are some tips that will help you kick your bad money habits once and for all:
- Stop treating money like an enemy. If you see money as a means to an end, you’ll never be prosperous. You are exchanging your precious time on this planet for a paycheck. Equate every minute worked with one that you’ll never get back. If that doesn’t change your perspective nothing will. If you’re tired of toiling, stop wasting your time and money.
- Start saving something each paycheck. Determine how much money you can reasonably save in a month and have it automatically deducted from your account each pay period. A popular savings plan involves saving $1 dollar the first week, $2 the second week, $3 the third week for a grand total of $1378 in 52 weeks. If you can’t see yourself saving that amount, try for at least half that amount. Anyone can do it if they’re diligent enough at finding ways to save money.
- Know exactly what you’re paying for. Become an informed consumer. Know which fees you’re being charged and why. Stop carelessly paying your bills and scrutinize your statements. Call the company that is providing service to you and ask why you’re being charged for certain items.
- Quit buying expensive software. There are plenty of free programs to choose from. For example, use OpenOffice for documents and spreadsheets.
- Stop being so lavish with your entertainment budget. Borrow books from the library or download free ebooks online. Rent a Redbox movie versus buying one. Host a clothing swap at your home. Take advantage of the free events going on in your city. Even the smallest communities have festivals, concerts in the park, and museum days.
- Buy a filtration system and kick your bottled water habit. If you insist on “purified” water, purchase a filtration water pitcher or attachment for your tap. You’ll save a bundle and reduce the amount of plastic you buy.
There are plenty of ways you can break your bad money habits. Strive to make small changes and before you know it, you’ll notice a big difference in how you handle your finances. You’ll have less debt and more savings. You’ll be better prepared for emergencies. You’ll stop depending so much on your job and appreciate the little things once again. That’s what kicking a bad money habit does for you.
Charissa is into frugal living and saving money.