No-one know what tomorrow is holding for us. You are aware of that, don’t you?!
It’s nice to live and being tucked away in a peaceful present, protected from the uncertainty that life can bring overnight.
Many things over which we have no control, can turn our lives upside down when you least expect it.
It could be something that hits you temporarily, or it could last for a while and affects just everybody around you. While things are going well or before they get worse, prepare for those lean times with a little forethought and some training.
Create a budget for emergency needs Sit down and figure the expenses you could eliminate quickly if you needed to. Cable bill? Eating out? Anything else you don’t actually need, can be ready to help you live on the cheap if you have a decrease in your income. If you have an emergency fund or a few month’s of money saved up, the can help stretch that even further. You may never have to use it, but it is advisable to have.
Everyone wants to save money. Or at least make more money. I know that from my own experience. That’s part of the reason I love to speak about that and have shared my journey on this blog!
Imagine being able to save more of your income by making small daily changes in your lifestyle. By having extra money, could you take more vacations? What dreams could you pursue? Get out of debt? It’s a lot to think about.
If you want to jumpstart your savings goals, I’m sharing five ways to save $500 right now. All of these are things I have actually done myself, and I was able to notice the savings right away.
Spend less than you earn
Make sure you’re staying within your income already, so you know where your budget gets tight now. That way you’ll be prepared to make decisions to make the budget work in a worse state. If you have two incomes, see how close you can get to living off one income. Keeping to a budget allows you to save and use your money for what you want.
Find an extra source of income
Is there something you enjoy doing that could become a side business? Would a few hours on the weekend or at night be worth the extra income? Not only would you get extra money now, but you would have a job you could scale up to full-time if you lost your current one or had your hours reduced. …Extra money.
You can do many things by yourself
You are probably not aware of that but you are capable for many things specially when you realise that there is no other option. If you can handle repairs, renovations or anything else you might need around the house then you won’t have to pay someone else to do it when money is tight. If there are things you think you can do, find someone who knows and is willing to help walk you through it. Try your hand at anything that needs done on a consistent basis to help cut costs.
Be up-to-date with you credit file
Make sure you are keeping up with your payments and are making good credit decisions, so your score is high enough that you’ll be approved when credit tightens in a recession. That way you can ensure you’re a quality candidate for that mortgage, loan or credit card.
Change your habits
Budget your money and track your spending to create good habits. Identify and change any bad money habits you have, especially while money is still flowing at a good clip. Do the weekends wreck your plans consistently? Is Wednesday when you regularly buy too much online? Make changes now that will help improve your financial wellness.
Learn how to leave on minimalistic style
If things get better it is easy to adjust your needs but if things stay the same or get worse, you will be proud to know how to deal with it.