by M Jvlian Simmons
Have things just gotten a bit out of control with the finances? Has your credit turned into your overbearing boss? Are you stuck on "broke"? Money only mostly okay but still got leaks in your budget you wanna fix?
Its more common than not and best believe that its the same deal no
matter how much money you end up making, just multiply the current
result.
Like Biggie said, "mo' money; mo' problems".
The following are some ways to get a grip on your funds.
And if you've done some damage to your credit history, then we'll show you how to "raise that Lazarus back from the dead" too!
How many bills per month are you currently paying?
Can you do without any of it or consolidate/bundle some?
If
so, then do because these would be considered to be small holes and
fissures in your boat causing you to drag and even sink.
GET OFF MAJOR CREDIT
How many times do credit card companies bombard young adults with new opportunities to get them?
Why?
They do that to get you using it before you know what you're really doing.
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| Wimpy just can't help himself! |
Before you know it you've maxed-out all your credit lines, can't make the payments and are now indebted to these companies for up to 30c on every dollar borrowed.
Yes, its kind of easy to get credit cards but refrain after two or three and make them count.
A mere $33.33 per card (3) means $100 to YOU to owe total.
So keep it manageable, make your investments focused and pay them off by the passing of every fiscal season (every three months).
CASH
ONLY
Instead, deal in cash, if not for the simple principle of "if its not in your wallet, its also not on the menu (yet)".
BUDGETING
Take everything you do by habit and list it on paper.
Then take all these habits and total their costs by calculator per week and then multiplied per month.
Knock off things that needlessly cost you money and add the necessary costs together to find what's called your monthly "overhead".
Work
to maintain your overhead including habits or "bills" for not only
rent and utilities but also for entertainment, food and even one for
savings.
MAKE MONEY BY SAVING MONEY
You can make money just by more wisely/mindfully fulfilling your own needs.
Need a dependable car but you're thinking that you need about 20K?
They DO sell "gently used"/"previously owned" dependable transportation nowadays and for as low as what you'd down-pay on a brand new model.
Couponing is also a good way to save lots of money.
Not even "extreme couponing" but the more basic clipping can be just as helpful.
Dinners, products and all kinds of services that you need anyway often
come with savings and discounts for those that are mindful enough to
search for them (even online).
Print, clip and redeem them proudly; they are as good as cash when you have nearly none.
CAREFUL CREDIT REBOOTING
Here are some card options to consider:
Skrill Prepaid MasterCard
The new Skrill reloadable Prepaid Card, accepted anywhere MasterCard
is accepted is an easy to use, secure and convenient tool to manage
your budget and stay on track with your spending.
Green Dot prepaid debit cards help to control finances without overdraft or penalty fees.
In this commercial, a woman says she uses her card to
shop and online and pay bills.
No credit check is required with Green
Dot.
Of course, you have to watch out for scam artists who capitalize on
bogus cards and information thievery, so only purchase these cards from
reputable (and "suitable") dealerships.
CHEAP ENTERTAINMENT
Always going out to see the latest movies?
Gotta have the XL popcorn, Raisinetts AND the jumbo soda at retail too?
Out clubbing every weekend with the menacing bartab?
Need that new game system just now, plus its top 5 games because you play through them so fast?
Gotta catch the concert/festival in the next state this weekend or bust?
I
know, you have to do something to keep yourself entertained but
remember to enjoy more fully, the simpler things that cost less and can
be just as fun (walks, hikes, picnics, at-home cinema, small house
party with friends, etc.).
Many times, a swanky night-in with friends can be more fulfilling than a
night-out amongst strangers where everything costs from $5-20/perk.
Maybe
a public cinema once a month and private home screenings weekly costs
less than the theater every week or two with all the trimmings.
Keep your entertainment budget tightly trimmed.
STAY OFF THE STREETS
The hunger to be where the action is could inadvertently land you in the poor-house if you aren't careful.
Cover/admission costs, food/drinking tabs, incidental costs (pullovers, tickets, boots, accidents, etc.) accumulate fast.
Of
course you have to get to work everyday and run errands and whatnot but I'm referring more to unnecessary outings or just driving for
driving-sake like we often do as young adults.
Be smart and be where you intend to stay after "decent" hours have passed.
When are YOUR local decent hours?
Perhaps in your town, no one is out after midnight shift workers get home (for any lawful purpose).
Or maybe even living in a more modest part of town that "rolls-up their streets when the streetlamps come on".
The best times to travel is by the same hours as the earliest and latest worker demographic in your /that town.
REPAY
YOUR OUTSTANDING DEBTS
Yes its been years, maybe even a decade since
you've heard from that bill collector but things do have a way of
hanging around and waiting for you to finally address them.
Sometimes enough time can pass by where you could repay the debt if you "had more time/when my money comes in".
If you can, then do it.
Paying off a delinquent bill here and a much appreciated I.O.U. there every one-to-three months or so is a good way to eventually dig oneself
out of debt WITHOUT the use of debt consolidators nor bankruptcy
declaration.
Face the problem head-on with a simple but confident phone call.
This puts you in control and also let's them know that you're interested in keeping good business/credit practices.
Even if you have only a partial payment, companies do appreciate and cater to "open lines of communication". In cases of partial payments, anything over half is usually acceptable.
Things never get weird until AFTER one stops communicating so keep
calling with check-ins and progress reports as if they are on YOUR
team.
PAY BILLS ON TIME
Paying late can damage your credit score.
Paying them more consistently actually helps to repair it.
CAREFUL CREDIT CHECKS
I'm sure you've come across credit check sites that require credit card numbers and memberships.
Avoid them as there are alternative sites that can get you the checkup you need without doing more damage than good.
Also, know that lots of necessary processes like credit checks for
rentals will also "ping" creditors, making it look like you're applying
for a line of credit just THEN.
Knowing this, choose carefully when allowing your credit to even be checked at times.
Hopefully with a little patience and discipline, you'll be able to climb out of "the red" and "into the black".
And if you're just making ends meet, then you'll be able to close the gap and possibly get ahead before too long.
Good luck, STARSH!Ppers!
If you'd like to start your new life or your own business but aren't sure just how or where to begin, contact us now to embark on this exciting quest together and unleash the extraordinary within you!
INVEST IN THE FUTURE!
Bringing STARSHIP scholastic awards and initiatives for innovation to your city!
Bringing STARSHIP scholastic awards and initiatives for innovation to your city!
