This is a contributor’s blogpost …
One of the most annoying feelings in life is wanting to do or own or see something, and yet not having enough money to do so. It’s an awfully frustrating moment because the fact of the matter is that if you can’t afford it, it’s not happening. This is why adults try and install us with the importance of working hard in school, so that we can get a high-paying job in the future. While we all may listen to this when we’re a child, we still won’t ever realise just how expensive the world is until we’re out on our own. It’s often hard to treat yourself because you immediately feel guilty afterwards because you know you didn’t have the spare money for it. Everything costs money nowadays, and the sooner you realise that, the easier it will become to adapt and maybe learn to accept that you can’t always have everything you want.
Sometimes though, you may only end up realising when it’s too late and you’re stuck in debt and can barely scrape enough money together to buy your groceries. Believe it or not, it’s very easy to find yourself in this position as it happens so quickly without you even realising it. One common issue is the way you go about using your credit card, as sometimes it doesn’t feel like real money anymore so you lose track of how much you’re actually spending. Fortunately, they’re not all bad and there are even sites that offer to give you the best credit card reviews to help you better manage your finances more.
Having money problems is no joke. It’s an awful feeling that consumes you, and you will always feel as though you’re not able to truly relax because you know that the bill is due next week, and you have no food in your cupboards, and you don’t have enough fuel to take you to work on Monday. The issue is always going to be waiting around the corner, and that is never going to go away until you face it head on and deal with the matter at hand. Yes, it’s scary and stressful and exasperating, but the longer you wait, the worse it will get. So stop putting yourself through hell and instead, use that built up energy to find out what you can do to make things better, one step at a time. Remember, as much as you’d love for everything to miraculously improve overnight, it doesn’t work that way. It may take time, but as long as you’re patient and have your head is in the right place, there is no reason that your situation isn’t going to get better.
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Here are a couple more options.
Working with a financial advisor
If you feel as though you’re lost and have no idea what direction you should go in, then one great option for you is to meet with a financial advisor. These are trained professionals that have a great understanding of numbers, and they are able to advise you on the best action to take, all depending on the kind of circumstances you are in. In order for them to have a better understanding of who you are, you will need to bring as many statements and receipts as you can so they can evaluate what generally goes in and out of your account. They will want to know about your typical spending habits per month, as they can then break everything down and prioritise what it is you need and don’t need, giving you a realistic outlook on how you need to organise your finances and manage them better. Now, of course, the advice they give you is their professional opinion. If you feel it’s right for you, you can work with them over a period of time and check in with them often to ensure you’re doing everything correctly, as well as reviewing the progress you’ve made.
Taking out a loan
Taking out a loan can be the best thing you can do, or the worst that you can do. It all depends on you as a person, as well as the kind of position you’re in. If you know that you aren’t good with money and often find yourself distracted and irresponsible, then a loan probably isn’t going to work out so well. Essentially a loan is a sum of money that is borrowed from a company or a bank. If your application is accepted, they will put your desired number into your account that you then agree to pay back little by little every month, as well as the interest rates. This varies depending on who you’re borrowing money from so it’s a good idea to shop around for the cheapest rates, as this will cost you less in the long run. It also depends on your credit score. The better it is, the more freedom and leeway you will have with your loan, but if you have bad credit, the rules may be a little stricter for you. As long as you do all the necessary research, there is no reason a loan can’t work out well for you.
It’s important to remember that everyone is different, so while you may be trying something that people have suggested, it doesn’t mean that it will necessarily work out for you. Essentially it’s like a trial and error process, so if the first thing you’ve tried isn’t giving you the results that you had wanted or expected – move onto the next thing and see if that is any better for you. Keep doing this until you’re happy with the motion of things, and you will soon see that all this hard work and concentration is paying off – or better yet, paying back.