It is all well and good saying “sort out your finances” but sometimes it just isn’t that easy. You’ll read plenty of advice online about spending less, saving more and cutting back but realistically if it were that easy then we wouldn’t ourselves in a pickle with finances in the first place. We wanted to put together some practical ways to sort out your finances – we hope they help!
Sort Out Your Debt
Realistically it doesn’t matter what steps you take to improve your finances, if you have debt looming over you then this will always affect your money situation – and in many cases your mental health and how you feel about money. Tackling debt can be tricky but it is something that is always worth doing. First, you want to be honest with yourself about how much you owe and who you owe it to – don’t be tempted to leave some off of the list and think you’ll deal with them later; this is about tackling things head-on and getting them sorted now. You might want to learn more about debt consolidation and the options open to you so you can decide which is the best route for you.
Track What You Are Spending
There are probably times when we have all been guilty of going to the cashpoint to draw out some money and praying that we have enough in our account. Not keeping track of what you are spending is one of the best ways to overspend and get yourself in a mess. As well as sorting out a monthly budget based on what you have spent before keep a track of what you are spending each month – that way there are no nasty surprises when you go to the cash machine. Not only that but tracking your expenses and actually writing down what you are spending is one of the best ways to be accountable for what you are spending and in return this generally helps you spend less money on things you shouldn’t really be buying.
Shop Savvy
We all know that we should cut back on what we are spending, but sometimes buying new clothes or having dinner out brings us such joy that we’re not ones to suggest denying ourselves that. However, what we will say is that if you are shopping and spending like this – spend-savvy! Make sure you always check for offers, discounts and freebies before you shop. There are also various cashback websites and apps that you can join which will give you back a percentage of what you spend; it might not seem a lot but it all adds up and is FREE MONEY! As long as you’re only using these apps to spend what you would have spent anyway it is a no brainer. The amount adds up and you can withdraw when it does – even saving it for Christmas or a special occasion if you want.
If you have experience in sorting out finances share your tips with us below
*Collaborative post
About Debz Louise
Debz Louise is a UK-based lifestyle expert and the founder of several lifestyle blogs, including Wannabe Princess and Under 5s. Specializing in everything from interior design and home renovation to body-positive fashion and early years development,