10 Steps To Shaking Up Your Struggling Financial Situation

10 Steps To Shaking Up Your Struggling Financial Situation

It’s not always that easy to find yourself on the right path in life. And as much as you might like to try and get your finances in order, they can often struggle sometimes too. It’s natural. Because you are going to find that you experience different wins and losses in life that can involve money. And not only that, but when it comes to your personal finances, you really do need to be educated to succeed. This has nothing to do with your education level – just being money savvy. Because it can be really easy for you to fall into dangerous traps, bad habits, and end up in a struggling financial situation. This can then often cause a lot of stress. Yet, it doesn’t have to.

10 Steps To Shaking Up Your Struggling Financial Situation

Getting yourself into a less than perfect situation with money can feel awful. It can keep you up at night. But, instead of actually letting yourself stay in that situation – or worse, continue on with the behaviours that got you into the situation in the first place. You need to really change the way you think about money and act with it too. No matter how bad the situation, or what kind of habits you have built up, you can change things. And it’s so important for you to decide that you are going to enjoy a healthy financial future so that you can shake things up and get away from your struggles. Let’s take a look at how you can do this.

1. Get Clarity

First of all, you’re going to want to make sure that you completely understand your financial situation as it is today. And this will often require you having to evaluate your situation objectively. Look at what you earn, what you have in the bank, what you save, the debts that you have – and get a clear picture of where you are now, so that you can work out how you move forward.

2. Understand Your Behaviours

The first way hat you’re going to do this, is to get to know your natural behaviours with money. Are you a natural spender of saver? Do you use credit or cash? Really think about how you approach money, and what habits you may have – because you can often pinpoint problems that need to change.

3. Set Intentions

Now, when you know exactly how you approach money naturally, it’s much easier for you to assess where you go from here. Most of the time, in order to change your habits and allow yourself to get into a better situation, you have to be really intentional about how you think about, and treat, your money. So if you want to spend less or live within your means, you need to be incredibly intentional about this every single day.

4. Get Help

And then, if you need to, you’re going to want to get some help. Maybe you need debt advice? Or a financial advisor? Maybe you’re not struggling so bad but you need some advice about where to go next?

5. Set Goals

Next, you’re going to want to think about what you want to do with your finances? Do you want to get out of debt and save for a mortgage? Do you want to start a business? Do you want to invest? Really think about the good financial goals that you can put in place to really start to kickstart your financial situation.

6. Budget

Something that will really help you to manage your money better and improve your approach to finance, is to budget. It’s easy to think that this is what you do when you’re suffering – but it’s just a smart way to manage money and have more control over it. So think about how you want to allocate your income each month, in the most effective way, and set budget amounts to each area of your financial life.

7. Seek A Solution

From here, you may even find that you need to be able to turn to a short term solution to help you get on track. Maybe you need to speak to your lenders to work on getting a better rate on your credit cards? Maybe you need to look to large online sites for lending? Or maybe you need to consolidate what you have? Really work out what will get your situation on track today, so that you can manage your debts better and pay them off.

8. Check In With Your Goals

And during this entire process, you need to make sure that you are on-track. Don’t overthink it or pressure yourself to be perfect. But, make sure that you have weekly or monthly check-ins with yourself. Do not just set intentions and then hope for the best. You need to stay on top of your goals and your financial situation if you want to improve things. This can also help you to get back on track if things go a bit wrong.

9. Earn More

Now, another really powerful move that can really help your financial situation, is to work on earning more. Maybe you’ve suffered financially in the past because you couldn’t make your income stretch? Well, there are plenty of ways to earn extra money each month. From part-time income and side hustles, to starting your own business, really think about how earning more and changing your perception of earning can shake improve your financial future.

10. Keep Going

And finally, as hard as this can seem at first, you absolutely have to keep going. It’s essential that you can allow yourself to have setbacks. Because you will. You may slip up from time to time, because this is a learning process. But the trick is to keep going. Yes, you may stumble one day, or on one area of your finances, but you need to be able to brush that off and get back on the wagon. When you do, before long, you’ll find that your financial situation has completely transformed.

*The preceding is collaborative content.

About Dawn McAlexander

Dawn is a full time travel and lifestyle blogger. Besides Cheap Is The New Classy, she also owns and writes for EatPlayRock.com, an entertainment site. Her interests include traveling, home decor, DIY projects, organizing her home and enjoying a nice cup of coffee {or two}. She currently resides in North Carolina with her dog, Daisy.