And if you decide you want to get out of debt
This general picture is discouraging because people generally give up before writing their first list of what they owe. When talking about using a spreadsheet or expense control application, the mind becomes paralyzed.
The good news is that you no longer have to worry, right now you are about to discover what the first step is to say goodbye to your debt!
Before you learn this secret, you need to be warned: these steps may surprise you. It will seem like the wrong thing to do, yet you will not learn to do anything unexpectedly. Did you know that most people think getting out of debt is simply paying bills?
Tell me, are you ready to know how to save $ 1,000 as fast as possible?
Surely you were not expecting it, or were you expecting it? Because, I say this, do we know that someone who is in debt would not save money instead of using it to pay off debts?
Why save for when the debt appears?
We Brazilians do not have the habit of reserving a portion of the salary, but my advice to you is – change that concept. Think about making your emergency fund as a safety net in case of fall and lack of money.
By saving financial resources monthly, this will allow you to create a mindset of being in control of your money. It will also force you to make changes in how you use your money.
When you start saving part of your income, aside from having money set aside for those hours of suffocation, you will soon have enough money to do much of what you want to do, which you would normally have financed.
We do not have a crystal ball to know when the hard times will come, but we can prepare ourselves for when we are living in those times.
- Your solar energy device pifa.
- Your car has trouble transmitting.
- Your son breaks his arm in soccer practice, all these are surprises that can generate expenses.
But if you have $ 1,000 in an emergency fund, you will not have to go into debt when you need urgent cash or the inevitable happens.
Start your emergency fund immediately
If you take it seriously and want to get out of debt , you should work hard to save at least $ 1,000 over the next 3/4 months or so before. Below are some ideas!
Make a financial budget of income and expenses
It’s kind of repetitive but make financial control of your money with a spreadsheet or online application, doing this is essential for your success with finances to happen.
Controlling your finances with a well-defined budget is the key to being able to save small amounts of money to create your emergency fund of at least $ 1,000 reais.
Knowing when to enter and how much you are spending, it will be easier to close the tap where you have the most expenses and which of them you can cut to save more money. But if you do not make your plan on a monthly budget, you’ll never know what costs you can cut to save.
Reorganize your financial priorities
We know it may seem impossible, but it is feasible to totally change an unruly financial life without control!
- First : make a shopping list and follow it without last minute changes.
- Second , stop financing your “uncontrolled desires” and buy only needed items.
If you think you’ll give in to impulse shopping when walking through the halls of a Shopping Mall or Hypermarket, consider letting go in these environments. For required items, switch to lesser-known branded products.
Challenge yourself to be creative! Dine on the stove instead of buying ready-made food and meals that cost a lot, this anywhere in the world. Just by doing this, a lot of money will be saved.
Get rid of things you do not need or use more
Sell everything you keep in case but do not use it, give it to nobody or exchange it.
Release! That is the word of order. Household items, clothes, electronic gadgets, toys and everything else you could not even remember, but it can turn into money if it is sold.
Get rid of jewelry, valuable jewelry that you have bought but do not use. Sell anything of monetary value that really has no meaning to you but which is accumulated in your home.
Do you want to get out of debt?
Search for social groups on facebook of brechó, sites selling and buying used products, try the OLX or the Free Market , in that places there is always someone to buy or sell.
After all, what you may not provide for one person can be valuable to another.
Find Extra Money Making Alternatives
Are you a great photographer? Can you mix music? Do you know how to play guitar, piano or violin? Do you knit scarf or woolen blankets? Now is the time to use your hobbies or skills to generate extra income.
Look for opportunities to work during the hours you are unemployed.
If your job does not give you this option, consider finding extra time to do it overnight or at the weekend. Of course it does not seem to be so glamorous to have to deliver pizzas or work in any delivery, but on the other hand it will help you save money or get out of debt .
Decide what you will not miss in your life
Are you ready for some sacrifice?
Scroll through your expense and expense worksheet to cancel any unnecessary associations, tickets, invoices, and services. Say goodbye to the gym you pay for but do not use, magazine subscriptions or monthly newspapers you do not have time to read!
Maybe it’s time to cancel your cable TV, switch to a basic plan or (use Netflix for less than $ 25), or access movie site plans online.
Look at it this way : if you’re working extra you certainly will not have any more downtime. Do not be afraid to make a little sacrifice for a period so you can add extra money in your pocket quickly!
Once you reach the magic number, take your money to the bank. Do not leave it at home – if you leave it at home, sooner or later it will use it for anything else that will not be for an emergency.
Can you create an emergency fund?
Not everyone can create their own safety net (save extra money) for when something unexpected happens. Understand that this reserved money can be useful to give you a financial advantage to save on interest and other charges.
This is one of the first steps to adding confidence to your mind, creating a sense of accomplishment and a sense of control of one’s money. This step proves you can save money.
Did you know that you can control your behavior related to your money?
Want to discover the power of intense focus on goals and determination to conquer?
Want to know how to use skills to tackle financial problems as a step to get rid of and get out of debt?