Money Management
Are you worried about making your money last? Are your bills going up but your wages staying the same? Recent increases in utility costs and the effects of the global pandemic and political choices are beginning to have an impact. Worry and stress over money can be damaging – both to your mental health, your relationships, and even your physical health. So what can you do about it? If your circumstances aren’t likely to change, how can you make better use of the income you do have?
As with a lot of my posts on this website, the first thing I am going to talk about is attitude. When you can’t change your circumstances, you can change your attitude. So how does this help? Well, first of all, accepting your situation can reduce anxiety levels. Once you accept your situation, you can focus on doing something about it. Cultivating an attitude of contentment is also key. Often we spend money on things we can’t really afford because buying things gives us a temporary high or temporary happiness. But if we are content with what we have, and cultivate an inner happiness, we won’t be so quick to look elsewhere for it.
Have a look online, or ask one of the many free, local resources available if there is any help or assistance you can get in your area – a little help might be enough to get you back on your feet again, especially of unexpected medical or repair bills come up that you weren’t expecting.
Try to save a little every week for unexpected emergencies – such as having to take time off work due to illness. Even a little saved up each week could be a massive help if something comes up. Maybe you usually buy a coffee or a snack a couple of times a week – can you make your own at home and put that money into an emergency fund?
Do you have a budget? Physically writing this down is a massive help. There are also many free apps available that help you to budget. For a month, keep a note of every single thing that you spend. This can help you to see where you can possibly make changes or savings. Careful planning and budgeting really help! Work together on this as a family – get everyone involved, even children. It’s a great life skill to learn.
Don’t forget what is important in life. Even if you are struggling with finances, make time for family, friends, and spirituality. If you are struggling, get help from others – brainstorming tips and advice can help you feel better and maybe provide you with an idea you hadn’t thought of before.
For more tips and suggestions, have a look at these articles on employment and money.
