Fast solutions to your money problems- See topnotch solutions to money problems

solutions to money problems;  Fast solutions to your money problems

When things are probably not going on right.  When all solutions to money problems seem to fail and you think that probably you are. Financial problems may arise in all aspects ranging from health, education, family and business.  As grownups, we are expected  to manage our money wisely but what happens when every time we run into debts, squander  a lot of money every time and sometimes you cannot account for your spending.

Do you want to get over it and solve these money problems?

Goodnews!

To solve these money problems you don’t need a degree in business from any University to help you solve your money problems. Here are 9 simple tricks with some practical steps that can help you to solve your money problems.

 

  1. Withdraw less and stay on cash

When is the last time you only used cash to pay for your purchases? Debit and credit cards help many people develop bad money habits and the fine line between what they can afford to pay for and what they can afford payments on blurs. With cash, it’s very easy to tell if you can afford to pay for something or not.

Your first assignment is to put all of your cards away for at least 2 weeks. When you need to buy something, you’re only allowed to use cash. After 2 weeks, if you’ve managed to do it, give yourself a passing grade.

  1. know how you spend your money

Consider what you learned about your spending habits by only using cash. Was it easier or harder to part with cash than plastic? Did you only buy things you needed, or was there also enough money to buy things you wanted? How much did you have left at the end?

Some studies have found that people spend as much as 15% more per purchase when they use plastic instead of cash. Spending more on every purchase adds up over the years, and get out , be aware of how you spend your money.

  1. Track Your Spending for 2 Weeks and know your overflows

Where does it all go? Every pay day there’s money in our bank account, but it never seems to last long enough.

Your second assignment is to track your spending for at least 2 weeks. In a little notebook, or by using an app, an expenses tracker software. make a note of where you’re spending your money. You might want to track what you spend on certain types of expenses, e.g. coffee or drinks out, or maybe tracking what you spend in certain stores is easier. Either way, to pass this assignment, you need to have at least 2 weeks worth of spending information jotted down.

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4.Plan your spending to Prevent money problems

Creating a monthly plan for your spending is one of the smartest solutions to financial problems, yet it’s the most overlooked solution to most people’s financial problems. Having a spending plan or a budget (the technical name for a monthly spending plan) makes life so much easier because you’ve given yourself a guide to decide how you want to spend your money.

Read also: 7 ways to attract  high paying clients to your business 

Ironically, it’s also one of the things that you’ll likely never learn in a class at Cambridge or Harvard. Not to pick on these universities though; most schools don’t teach students how to create a budget. So to help with this lack of training, your third assignment is to outline your budget.

If you’ve never created a household budget that works, here is a personal budget workbook to get you started or you can try out this initiative budgeting resource that guides through the whole process. A budget based on real numbers sets you up for success, so use what you learned when you tracked your spending.

If there’s an expense you want to cut out of your budget, start by reducing it by half. This will tell you if you can stick it out for the long term. If you can make having a budget part of your life, you’ll know that you’ve passed this assignment successfully!

  1. Reduce of replace Large expenses

Cutting out an expense or changing a habit is easier if you replace it with something else. For instance, if you want to quit buying expensive coffee on your way to work, plan how you can replace this habit with a new one. You might buy yourself a new travel cup and purchase some coffee that you enjoy drinking (and can make at home!). Then change your routine so that you’re not tempted to stop somewhere for coffee, e.g. travel a different route to work.

Read also : Money saving Tips:  25 ways on how to save money from salary every month.

Your fourth assignment is to find one expense that’s taking a real bite out of your budget and find replacement solutions. Cutting back on coffee is just one example. What about your entertainment costs, quitting smoking or scaling back what you spend on hobbies and recreational activities? You’ll know that you’ve passed this assignment when all of your bills are paid up to date and you’ve got a little extra left in your bank account.

  1. Prioritize your expenses

Over the next month, identify areas of your budget that need some special attention. Look for ways to reduce your spending with your utilities. Do your laundry with cold water instead of hot; turn the heat down and the lights off when you’re not home. If you have a home phone as well as a cell phone, decide if you need both. Routines can be hard habits to break.

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Also identify products or services you no longer need but which you’re still paying for. Many people simply let their bundled services renew from month to month, even when their needs have changed. This might be because they’re too busy to look at their bills carefully, but taking the time to go through your bills line by line and calling the companies to make changes to service plans, or cancel services altogether, can find a lot of hidden cash.

If you haven’t guessed it yet, your fifth assignment is to identify what expenses you can reduce and then create the plan to follow through with your changes. If you’re not sure where to start,. You’ll know you’ve passed this assignment when your bills get a little smaller.

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  1. Make a Plan to clear Off Your Debt

Everybody has some, so is it really that big a deal? Yes, it can be. If you have debt that has slowly accumulated over a number of years, you need realistic debt solutions that work for your life style, not quick fixes that you can’t live with for the long term. At some point interest rates will start going up and eventually your income will likely decrease when you retire. When either of these things happens, if you have relied on credit to make ends meet, you will find yourself facing some tough choices.

SEE ALSO: 7 productive activities that will make you a millionaire

Dealing with debt sooner than later leaves you with more options. That said, many people delay getting debt help because they’re either embarrassed or don’t know where to turn.  Use these tips to help complete assignment six – create a plan to pay your debts off, but also maintain a reasonable standard of living. You will only be able to pass this assignment if your plan is realistic and you draw on what you learned in the other five assignments.

  1. Ask for assistance in giving solutions to money problems

If you need help dealing with your debts and finances, don’t be afraid to ask.

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Assignment seven is optional but will earn you a bonus if you choose to complete it. Seek out professional, objective advice from a renown non-profit financial counseling organization for a second look at your budget and your plan to deal with your debts. You’ll know you’ve passed this assignment when you come away with additional insight about what you can do to deal with your debts more effectively and implement your budget realistically. Any good solution takes time to follow through with – your debt didn’t happen over night; it will likely take as much time as getting a degree from an ivy league university to pay it off.

  1. Educate yourself on personal finance

Last but not least, one of the best things any high level university could instill in its students is the desire to learn more. Any degree of learning from our mistakes is worthwhile, especially when we’re educating ourselves about how to manage our money and debt better.

solutions to money problems, SEE ALSO: Business Ideas:  Top Ways to Make Money by Working Less

Your final assignment is to keep learning. Take on more challenges or homework from the school of common cents. Life skills that further develop your new money habits will keep you on track with your budget, help you avoid financial problems, and help you plan for your future successfully. And that’s a graduation worth celebrating!

Question:  What other solutions to money problems can you suggest? or do you have a problem or question about the above post?  Please drop your  Comment below.

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