How do you feel about your personal finances? It may be the case that your situation is so bleak that you prefer to avoid thinking about your circumstances if you possibly can!
The problem with attempting to avoid the issue, is that it’s only likely to get worse. Few people are ever able to rise above financial strife by doing absolutely nothing. In fact, it could be said that inaction is just about the worst possible choice at this point in time.
Most of us know when the family budget isn’t looking good. We know because we’re struggling to pay the mortgage, running out of money at the end of the month, unable to afford a few luxuries and desperately waiting for pay day. Does all of this sound familiar to you?
It’s not a nice situation to be in. The first thing to say is that you’re not alone and that you can deal with these problems if you’re prepared to face them. Many families encounter these problems each year and discover that they can have a better future. The first step is to realise the extent of the problems that you face.
Although it may sound like a dispiriting task, noting down the realistic position is the ideal starting point. You may find it helpful to gather together details of all financial transactions relating to the last month or so. That means everything from pay slips and bank statements, to credit card bills and restaurant receipts.
Fortunately, the Internet is your friend when you’re looking to gather this information. Many of us have access to bills and statements online these days.
Having pulled together the information, you should be able to use a spreadsheet to quickly gain a picture of how much you’ve spending, compared to your income levels. If you’re spending more than you’re receiving, then it’s clear that you family budget is in a bad place.
So how do you set about making things better? For most of us, the starting point is to try and reduce how much we’re spending. The reason for attempting this first is that it’s usually easier to get quick results with this approach.
You’ll need to carry out an honest appraisal of your spending habits. Have you been buying a few too many luxuries? Do you always carry out price comparisons before making purchases? Could you be using coupons and discount codes to save more? Are you making use of credit card balance transfers?
The fact that you’re even thinking about these issues is great news. It shows that you’re already on the path to reducing your spending levels. Remember that getting your spending under control will be a real benefit for your whole family. If nothing else, it will certainly reduce your stress levels.
But how about if you still can’t get your spending levels down low enough? You may simply feel that your income levels aren’t high enough to deal with what you need? In this situation, you may want to consider your employment options, as well as any additional assistance that may be available from the Government.
Until you take the time to appraise your situation fully, you won’t be able to start improving your financial standing.
Keith Barrett loves getting bargains. He uses Dixons discount codes to save on many purchases and likes to help others to save too.