If you are tired of being broke and want to stop being broke, there are things that you avoid even if it means you need to change the way you normally do things. Sometimes it can be fun to be reckless and a bit irresponsible and go on adventures, buy things we shouldn’t because it adds joy to our lives. But there are always consequences that come with that type of lifestyle.
These are the things that you need to consider letting go to gain the financial freedom you want………
1. Be Focused
The most important factor to recover from an awful situation is to change your mindset. If you keep on instilling in yourself that it’s hard for you to recuperate – that you don’t want to change your situation – it will really be hard for you. The first, least and most possible thing you can do is to be positive about your situation plus your corresponding plan and action points. Worrying can only attract more negativity and will lead you to nothing.
2. Have a budget
If you don’t put away a little bit of your money off the top, before you start doing the rest of your budgeting and spending, you’re never going to actually save it. Budgeting lies at the foundation of every financial plan. It doesn’t matter if you’re living paycheck to paycheck or earning six-figures a year, you need to know where your money is going if you want to have a handle on your finances. Unlike what you might believe, budgeting isn’t all about restricting what you spend money on and cutting out all the fun in your life
3.Get a part time job
If your schedule isn’t that hectic. To gain financial freedom you need to come out of that comfortable space. There are many opportunities for people to make a little bit of extra money. You might take a part-time job, or you might consider starting a home business. Be willing to work harder and longer in order to stop being broke.
4. Get support
Whatever support you need, it’s time to get honest with yourself about that and get it. And you might want to consider therapy around money too. If this has been a lifelong struggle, there’s a good chance there are some deeper issues worth facing. Dealing with money issues might just be the most powerful personal development work you ever do.
5. Cut down your expenses
If you need to move back with your parents for a while, do it. If you need to start taking the bus because car insurance, gas, and the mere fact that you actually own something as expensive as a car are no longer feasible, do it. If you have to make cuts in things that used to be totally affordable, do it. And do it with no shame.
6. Spend on what you can afford
A lot of people make the mistake of spending money that they don’t have. It can get tempting at times when you see something that you think will be worth the purchase but before you put money on the table think first and ask yourselves this questions; “Can I afford it?”. Be honest to yourself and avoid the temptations. If you master this step, then the no money days will be over.
7. Manage debts wisely
Credit is okay as long as you know how to manage it. In fact, it’s easier for you to get loans when you need it if you have a credit history. Your financial history is the basis of financial institutions on gauging your repayment behavior. Your financial management can affect all other aspects in your life. If you are indebted to anyone, your emotional state, because of stress and worrying, could also be in expense. If you are not, you could have a more positive outlook in life.
8. Watch out for bargains
Look around for those deals. Use those coupon codes. Compare prices online. Don’t settle for “kind of expensive, but I want it, so whatever.” Pay your future self by being effectively cheap, and you may even wind up getting your own TLC show about how good you are at finding low-cost brand-name tank tops.
9. Treat yourself once in a while
Write out your budget, and see where you can make cuts. Look at your receipts, and see where you are hemorrhaging money like inbred French royalty. Work out a smart way to get the special thing you want, and treat yourself with it in a reasonable amount of time.
10. Stay committed
See the big picture and eventually you will achieve what your heart desires. Always remember that you are doing all of this for your benefit. Make saving a habit and the rest will be history. Financial freedom will be at your doorstep.
