Surely you have wondered on more than one occasion how you can do to get to the end of the month. Your income, which once seemed to be enough to cover your expenses and commitments, suddenly no longer reach you. The reasons why this situation can be very diverse, although they can generally be reduced to that you have lost control of your expenses and probably you have acquired debts that you cannot cover.
In General, if you do not have a strict and periodic control of your income and expenses, you will most likely be derailed in the search for a better economic situation. It Is to take into account that we live in a world that all the time exerts a great pressure to acquire and own goods and services, the publicity bombards us at every moment, and if you do not have clear what your real financial situation is, most likely you make decisions EQUIV Ocadas about your money.
Also, if you do not have an emotional balance, that allows you to control yourself to the influence of the outside world (including family and friends), you are exposed much more to any economic collapse. For example, if your neighbor changes his car, and you get green with envy, and you run out to the nearest distributor, and you go into debt with the excuses that «I deserve it», or «there I see how I do to pay», or «if not, I can never change this old car.» Another example could be that to «shield» your father-in-law, and see the Good life you can give his «daughter», you buy one and a thousand gifts paid with the credit card. Or If you don’t control the excitement that happens in front of a shoe store, you walk in and out with two pairs, which you didn’t need, just because you would fit in with the dress you bought last week.
I Have developed a number of factors that I think can help you answer the question of what to do to make the money pay more? Here are some ideas:
1. Change Your Mind
In all aspects of life, your mind can be the factor of success or failure. If You handle thoughts like «Money Never reaches Me», or «I’ll Never get out of this situation,» chances are, you’ll never succeed. You Must know that achieving wealth is nothing wrong, it is within your reach, as many people have achieved it, and besides, all you have to do is focus on yourself, not change anything external. In Addition, you must have enough emotional balance, to know that you can reach all your goals, but also you must learn to enjoy what you have today, without tormenting you for what you can not have.
2. Prepare your personal income and expense budget This must be monthly, and projected at least one year ahead. You Have to check it every month, and you have to make the necessary adjustments. It Can be a hard task at first, if you’ve never done it, but it sure will give you fruit. As A general rule: Your expenses can never be higher than your income.
3. Meet your budget
A Lot of people have a budget idea written somewhere, or in their head, but that’s not the way it goes. The important Thing is to fulfill it. If you make an estimate wrong in some category of income or expenses, you must make the necessary adjustments, and move on.
4. Create your Emergency Fund
It Is Very important to create an emergency fund that covers your expenses from 3 to 6 months, because you do not know what can happen to you. Many times, for not having an emergency fund, you can fall into debt, or even lose a part of your estate.
5. Reduce your expenses
Many authors recommend to bring a standard of living austere, or frugal, and thus achieve wealth. This seems excellent to me, as long as you don’t become a conformist, and you lose the healthy ambition of looking for a better situation.
6. Prepare our Personal financial statements
This is a topic that may seem complex at first glance, but you will see that it is not very difficult, and that allows you to have the clear picture about your current financial situation. It allows You to consider goals and review your economic progress.
7. How to Increase your income
You can do it. Check out what you like, what you can do best, your hobbies or your skills that can somehow generate income. If you have a job, do overtime, or look for a raise or a promotion, Or look for another part-time job. Or change your job. Invest in a business. Create your business. Use your imagination.
The objective of this topic leads us to a single answer. Which gives us The understanding that we must be very organized both in our personal and economic life to reap a triumph in the future.