This could happen to anyone. Sometimes, things don’t go according to what we previously planned, but it doesn’t mean everything is lost. You can take this as an opportunity to learn and grow new habits.
Here are 6 tips that will help you get out of your reality.
1.Write down all your expenses
Know exactly where you’re spending your money on. Write down every single item that you buy during the month.
2. Divide them
Divide all the items into two categories.
Wants: all the things you are perfectly fine living without.
Needs: all the things you can’t live without.
Also, make sure to figure out how much you spend on each category.
3. Cancel your subscriptions
Cancel all the unnecessary subscriptions, for example, your Netflix subscription or your gym membership. This step will make you have more money on the side.
4. Sell items you no longer need
This is a fast way of making some extra money. I have a post that goes a bit more in debt about this tip.
5. Downsize your lifestyle
Try to move to a smaller house so you can pay a lower rent or, move back to your parent’s. Be aware this is only a temporary situation, so don’t be afraid to live with them for a while.
If you’re paying a car debt, you could try to sell it, pay off your debt and get a cheaper one or, instead, you could use public transportation. Again, this is temporary.
6. Get new habits
Start cooking your own meals instead of going out to eat. Clothe shop only when necessary. Quit outside coffee and snacks, bring your own coffee and snacks with you. Make, the start of an emergency fund, a priority.
These are all the tips I have for you. I’d like to highlight the importance of an emergency fund. It’s definitely something, that in case of losing a job or any other unpredictable event, will help you get back on your feet.
Once you move forward from this moment and are finally back on you’re feet, make sure not to stop doing some of the steps on this post. Continue to stay on track of your expenses and don’t live above your means. For example, save money to buy a car instead of getting a loan. This will completely change your reality.
Thank you so much for reading it, I really hope this post helped you and, I’ll see you in my next.