It’s easy for us all to feel like we’re stuck with bad finances. In fact, from the minute you start having that part time job as a teenager, you realise what it’s like to have to try and manage money. You might not have had to pay bills straight away, but the first one to creep in would have been your phone bill, and then it most likely would have been insurance and tax on your car, and then fuel, and then before you know it you’ve got a million and one subscriptions, a million plans, and money that’s dwindling away. Then you finally reach true adulthood, and you realise what it means to have true money problems. Saving for a house and moving out is just so expensive, and it’s a downhill spiral with money that a lot of us don’t feel like we’re ever going to get out of. So, we’re going to try and show you some of the ways that you can get out of the rut that your finances have created, so that you can actually feel successful with what you’re doing! Keep on reading to find out more.
What Ways Are You Stuck In?
If you’ve got bad finances, it’s most likely going to be because of the habits and the ways that you’ve got yourself stuck in, because it’s so easy to fall into bad habits with money. One that we all have pretty much, is spending so much of our paychecks within the first week or two, and then being stuck with little money for the rest of it. It’s because we make impulse buys on things we don’t need because we see so much money in our account, when realistically that could have gone on filling the fridge, or paying a bill that comes later on in the month. So, one thing we’d recommend, is doing a really strict and thorough money plan at the start of the month. You can even plan your money on apps, so that it tells you what money to put where, and how you’re going to benefit!
Reduce Some Big Bills
Big bills are what we’re all plagued with, and it can be so hard to find a way to reduce the bills you have, once you get into the cycle of paying them. One that we all have to keep paying if we want to maintain the lifestyle that we have, is the car. Car insurance quotes seem to be getting higher and higher each year, but that might be because of the way that you’re obtaining them. If you go through the company direct, you might be able to save some money. You should also try and save money on your phone bill by going SIM only. Although it will take some saving, a lot of you will have phone bills double what they should and could be!
Start Small Investments
If you want your money to go further, thinking about small investments is so important. It might be investments through money apps that you can try, or simply a savings investment in a locked ISA, just so you can grow some money!
