We get it. It’s hard to stay optimistic, especially this year when many people are being laid off. Still, there are ways to get through it. If you have a low income, or an “okay” income but don’t feel stable enough, we want to show you some ways that could improve the way you think, thus improving your budget.
Being your money manager can be tricky, and there should be some discipline included, but look at it like you do your everyday tasks in life – washing your hair, brushing your teeth. You don’t even consider it something dreadful (okay, maybe if you are exhausted), but rather something that’s just a regular part of your life. That’s what we hope at least one of these ways will bring to you when it comes to money.
1. I feel guilty about debt, so I spend even more.
It’s normal to feel guilty. If you could’ve done better, you would’ve. If you had enough money, you wouldn’t get into debt in the first place. Forgive yourself, and start working on how to lessen it every month. Spend 15 minutes daily on budgeting and checking what you’re spending on. This process should take about a month for you to see what you are spending on. We mean like, those things you don’t even notice, but by the end of the month, you’re left with nothing. Suppose you pay everything with a credit card – even better. Get a report at the end of the month, or request one from the last one, and you will be surprised, and maybe you won’t even be able to remember when you bought what you bought.
2. I want to invest money, but I’m afraid of scams.
Hearing about various ways people scam people is nothing new since the dawn of time. Maybe now it’s a bit easier to manipulate people, since they have access to lots of accurate information, but they don’t bother researching since many of the “targets” want to get money quickly. Have you ever heard of someone getting millions overnight (except those who got a fortune from an aunt they didn’t even know about, right)? Everything takes work, but it doesn’t mean it’s something you should dread. Consider the fact that there are plenty of young millionaires in the world of forex. If you dive a bit deeper into their circumstances, you’ll realize that, yes, maybe they got a lot of money in a day, but behind that are years of work, research, analytics, etc. What we want to say is, there are scammers in any field, off and on the internet. Still, you can prevent that by researching a little bit about a specific brokerage or a broker, and the internet can be the right place when you want to see whether somebody is a fake or not.
3. I will lose money if I invest i
This can become a real thing only if you don’t approach it as your money (although you are investing yours, not somebody else’s). It’s easy to start daydreaming, even if it’s for rainy days or you want to invest in stocks. Seeing numbers and various chances of potentially gaining profit can lead you to impulsive decisions. Whether you are putting your money into a bank, or you want to work with a broker, don’t go all in. Consult with a person who knows more about the topic than you do. That way you CAN gain profit, steady and over time.
4. I don’t know how to manage money properly.
This doesn’t mean you can’t learn about it, even if you think you’re a lost cause. Everybody wants to be less stressed today, so a logical thing would be to tackle your finances. Sign up for a course if you think you need it. If you’re simply lazy or scared of what you’re going to face, once you deal with it, you won’t have to for a more extended period. Yes, you’ll have to tweak your budget accordingly, but setting your priorities, calculating how much you have to pay every month (rent, bills, etc.), you can with the help of a book or a short youtube video see what would work the best for you. It all depends on the situation you are in, but for managing money, you will have to have some discipline and lots of self-awareness, that can benefit other areas of your life as well. Don’t be afraid of doing what’s best for you!