Getting On Top Of Your Personal Finances

Have you looked at your bank balance recently and been hit with a sense of sheer panic? You are probably not alone, money worries are unfortunately all too common. It often seems that money just flies out just as quickly as it comes in. 

Living hand-to-mouth is no kind of existence, and if you are worried about spiraling debts and the fact that you may not be able to pay the bills at the end of the month, then it is time to give your finances a review and take back control of them. 

Getting On Top Of Your Personal Finances - growing money jar debts image
Image by Nattanan Kanchanaprat from Pixabay

Examine Your Current Expenditure

You may turn a blind eye to the money that goes out of your bank account each month. Sometimes it is easier to ignore it and hope that it sorts itself out. Sadly, this is not something that is likely to happen, and you need to take control of the situation before it consumes you. 

Sit down with your bank statements and work out all of your regular outgoings. List them all and then prioritize them based on the type of outgoing that it is. High priorities will include things like your rent or mortgage payments. Any debts that you owe should also be high on your agenda. 

Lower down the list should be the things that you could do without. So this may include your subscriptions to the gym, or streaming services like Spotify, or Netflix. 

Then you need to work out what you spend each month on food and transport and create a monthly maximum spend for these areas. 

If you find that your outgoings don’t match up with your income you will need to make cutbacks The low priority luxuries should be the first thing to go. 

Switch Your Services

Very often, you may find that you are paying out too much for some of the services that you have. Things like car insurances can creep up every year, so it is important to shop around for a new quote and change your provider.

Similarly, your utility providers will also tend to up their prices without you really noticing. When it comes to your gas, electric, phone, and broadband bills, you may be able to save yourself some money by shopping around and switching to new providers. You should realistically aim to do this every year to keep on top of the best deals. 

Consolidate All Of Your Debts

If you have multiple debts across a number of different companies, you will be paying out several lots of interest. Having several credit cards and loans can mean that you are constantly juggling your debt and you may not really be reducing the overall size of it. 

You should aim to consolidate all of your debt into one single loan, with an affordable monthly repayment. Work out the shortest length of time that you can affordably pay off all of your debt in, and then make sure that you cancel your credit cards once the balance is cleared by the loan. 

Tricking The World Into Thinking You’re Rich

Money has long held a lot of power in society. A person’s reputation and image can revolve around the number in their bank account, and it’s much easier to get things done if you have this resource behind you. Of course, though, unfortunately, most people feel as though money is working against them, rather than on their behalf, in the modern world. To help you to find ways to overcome this, this post will be exploring some of the easiest tricks to make it look like you’re rich. While this is mostly for fun, it can show you some good ways to save money.

Tricking The World Into Thinking You’re Rich - classic cars image
Photo by Matt Lamers on Unsplash

Shopping Second Hand

Second hand markets have always been popular amongst budget buyers, as they offer the chance to get your hands on items far better than you’d have been able to afford if they were new. This works for a huge range of items, from clothing to cars, with companies like The Good Van Company being a great example of a business in this field which focuses on providing luxury products at reasonable prices. It’s worth being careful if you decide to go down this route, as not all companies are as honest as others when it comes to giving you the history of the items you’re interested in.

Gather The Right Deals

Going out for a meal can be an extremely expensive affair, with a lot of people unable to afford this sort of luxury in normal life. You rarely have to pay full-price when you do this, though; as long as you’re willing to do some hunting. Restaurants across the world offer discount codes and coupons to their customers. To find these, you may have to do a little bit of research around the web, using deal-tracking websites to get an idea of what you have available. You can often get deal packages when you buy products like insurance, making it worth exploring the different options you have on offer.

Get Competitive

Those who are willing to fight for what they want are always more likely to live a more comfortable life. In the case of luxury items, taking on a little bit of competition can be a great way to save some money, but you’ll have to be quick if you’re going to be found successful. Time-limited products like vacations often go unsold. To ensure that the companies offering them down lose out entirely, some will put these packages online for a fraction of their original cost. A lot of people will be on the lookout for deals like this, making it hard to get your hands on them, unless you’re willing to do some work.

With all of this in mind, you should be feeling ready to take on the challenge of tricking the world into thinking you’re rich. Not a lot of people go down this route, instead spending the limit of what they think they can afford. There are good deals around every corner, though, and finding them only takes a little bit of perseverance.