Many people think of controlling their finances so that in reality their finances control them. Low earned income, indebtedness and other problems create a set of financial problems that may seem, personally, impossible to overcome.
Measures exist to take control of your personal finances. You will find that this process will act “step by step” and that it will eventually enable you to positively improve your financial situation.
These “personal financial piracy” may be easier than expected.
Put your expenses on autopilot
Do not worry about your bills, put your regular payments on the autopilot. Most providers and credit card companies will allow you to set up pre-authorized payments. Thus, you will always pay your bills and you will not have to worry about late penalties and interest rate increases on credit cards.
Your only job will be to make sure you have enough money in your bank account to cover automatic payments. You may be able to ask your bank to set up a balance alert to receive a notification if your balance is below the required amount.
Once you have paid your fixed monthly expenses by pre-authorized payments, you can use the money left over to pay you. Yes really, you can afford a salary. This money will be used for everything you want: entertainment, outings, payment for a streaming service for movies, etc. The idea is to create a sustainable financial model. It will be easier for you to respect your budget and financial planning if you keep some money for fun.
Divide your shopping costs
You have paid fixed fees and expenses, now you must also think of essentials such as food and fuel. You will find these more difficult to budget because they change from one month to the next. You can still limit the expenses. There are many ways to get there. First, try to get a prepaid debit card.
Carry the amount of money you want to spend each month (for food, for example). This amount will have to serve you for the whole month. You will use the same method with cash. Remove the amount needed for the month and set it aside. Remember that you will use this money only to achieve the goal.
A third option is to buy a gift card from your grocery. This way, you will not be tempted to spend the money or use the debit card for anything else.
And if you need more money?
Sometimes your expenses exceed your income. If this happens, you should consider a personal loan online. These easy-to-obtain loans do not require a full credit check, and the lender deposits the requested amount into your bank account shortly after your approval.