3 Practical Steps to Solve Your Financial Problems

3 Practical Steps to Solve Your Financial Problems

financial problems

If you’re stressed about your debts and trying to solve your financial problems, you will want to consider trying these 3 practical steps  – starting right now.

Ask a millionaire if money makes them happy. The chances are that they will nobly say no.

However, ask someone who is always in the red at the end of each month whether they think money would make them happy. Yhe answer would be an emphatic yes.

Money can be a help or a hindrance in life.

  • When you have too little money, life becomes a struggle. Mental health can suffer. Life is tough.
  • If you have too much money, you may find yourself isolated, questioning people’s motives and never feeling fulfilled.

You need to strike a balance.

It’s key to focus on having enough money to feel comfortable – and like you’re not struggling.

Your goal: stop worrying about financial concerns – so you can focus on what matters most:

  • people you love
  • activities you love
  • learning and growing
  • healthy habits
  • self care

With this in mind, take a look at these simple ways to help boost your little nest egg.

3 Practical Steps to Solve Your Financial Problems

1. Clear Your Debt

If you are in debt, don’t panic. In fact, nearly all homeowners have some level of debt with a mortgage. However, because the monthly repayment comes out of your account each month, you can still live comfortably. So, you don’t tend to worry about it.

The same financial methodology should be applied to any credit you owe on a credit card.

If you have a credit card and pay off the balance at the end of each month, then you are utilizing credit effectively.

However, if you are in debt on multiple cards and barely touch the interest when you make your payment each month, then there could be an issue. 

How to apply this practical step to solving your financial problems…

Make a personal budget and list your expenditure and income.Begin tightening your purse strings. The chances are that those almond frappuccino you enjoy on your way to work every  morning aren’t a necessity.

Any savings you make should be put towards your debt.

Also keep in mind…

Consider consolidating with a loan and switch your credit card to one with zero per cent interest on balance transfers.

2. Carefully Explore Risky Investments 

Many people try to make their money work more aggressively for them. After all, it’s frustrating to simply put your savings  in a bank account where it accrues minimal interest.

How to apply this practical step to solving your financial problems..

Some people choose to invest in Forex, bitcoin or dabble in stocks and shares. If this is you, you might want to explore  -various sites like https://insidebitcoins.com/bitcoin-robot/bitcoin-revolution to learn more about the pros vs cons of bitcoin apps  – which aim to make you money when investing in the volatile cryptocurrency. (Note: Please be care investing – do so in a mindful way – as it’s a very risky venture which doesn’t work for everybody.)

Also keep in mind…

You need nerves of steel if you are to opt for this strategy to make extra cash. If you get anxious quickly, you might prefer to invest in property, wine or art.

3. Explore Side Hustles

Side hustles can be fun and help you to make a little bit of extra cash.

How to apply this practical step to solving your financial problems…

You might want to investigate the power of eBay. Go room by room in your home and collect every item that you haven’t used in twelve months. It’s either cluttering up your living spaces. Or these items are stored away taking up space.

Instead, list them on the auction site and allow them to find their value.

You may be surprised at just how sought after your unwanted items are.

Also keep in mind…

You can start an online business – and make money in your sleep. If you want support with branding and online marketing, I offer 1-on-1 entrepreneurial consulting. Learn more here.

If you’re stressed about your debts, remember…

Money can make you happy, but there are other more important things like family, love, travel, relationships and our health that can truly leave us feeling happy and content.

Become the happiest version of you

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  • Be happier.

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