There are many different reasons why you might be starting to reconsider your finances. For example, you might be getting ready to start a family, or trying to kick that student debt once and for all. However, getting your finances in check is often harder than it seems – especially when thousands of people across the world have suffered financial losses as a result of the pandemic.

Photo by Konstantin Evdokimov on Unsplash

Nevertheless, this does not mean that a good financial situation is out of the question – you just need to be willing to hold yourself accountable and work for it. With that in mind, here are some top tips that you can use to improve your financial situation in 2022!

• Know when it’s time to get legal help. Sometimes, our financial struggles are too complex to deal with alone, especially if we need to file for bankruptcy or require more support to get back up on our feet. The first step to resolving this issue, as hard as it may be, is knowing when to reach out for legal help – such as by contacting lawyers for bankruptcy. This will help you gain the insight and support necessary to get back on track. 
• Find an extra income. If you’re finding that your payslip is no longer stretching as far as it used to, then you might want to consider finding an extra income. This way, you can improve your financial situation significantly and may even also stumble into a new career that you love. For example, if you have an artistic flair, you could start to sell some of your artistic projects online on sites such as Etsy and RedBubble. Over time, you may gain enough traction to turn your side hustle into a full-time business – increasing your earning potential significantly. 
• Consider investing. Many people chose not to invest because they don’t really understand how it works, or believe that the market is inaccessible. However, this is simply not the case and investing, when done correctly and with caution, can be a great way to improve your financial situation. To get started, check out these top tips for beginner investors. 
• Set up a savings account. Setting up a separate savings account is a great way to improve your financial situation, as you are less likely to spend your surplus cash when it is tucked away in a savings account than in your regular bank account. Furthemore, savings accounts often come with an impressive interest rate, so that you’re able to passively increase your income.
• Keep an eye out for passive income opportunities. Finding a way to earn passive income (i.e. money while you sleep) is another great way to improve your future financial situation, and requires very little time and effort on your behalf. Thankfully, there are plenty of ways in which you can achieve this goal, such as through affiliate marketing, or starting a blog or youtube channel where you can earn money based on the amount of engagement, likes and comments you receive.