Putting a Safety Net Over Your Financial Life

Are you ready to take your finances to the next level? Do you find yourself staying up late night, wondering how you will take care of everything? Do you wish that your finances could be a lot better than they are currently? If you have ever felt this way, don’t worry — it’s perfectly normal. There are plenty of people that are in your situation, but it can still feel lonely working your way out of debt.

If you want to jumpstart the process, you have to start by putting a safety net over your finances completely. It means that you put into place things that are going to protect you and only you. Don’t worry about the creditors. Don’t worry about their profits. Don’t worry about their ability to collect. You need to think about what’s going to actually be best for your family.

There are a few things that you will want to think about when you get down to planning this. You need to look and see if you have any high interest cards that you really need to cut down to size. Try being nice and ask if you can get a decrease on your interest rate. If you’re someone that’s been paying their bills, there’s no reason why they can’t give you this. Otherwise it would be best to move to another credit card and transfer your balance. There are balance transfer fees but at least you don’t have to worry that you’re not going to be able to get things done. In our opinion, you should always be looking at how you’re going to move forward. Moving backwards just doesn’t make any sense at all.

From here, the challenge is going to be finding the strength to talk to your creditors. You just never know what type of programs they have for you until you look into each and every option possible. That’s just the way it’s going to be, so why get frustrated?

Don’t forget to start looking at how you can save money. We hate to break it to you, but you’re going to be uncomfortable for a little while. If you just think that you’re going to be able to continue spending money like it’s going out of style, you might not realize that you’re really hurting your finances a lot. It just doesn’t make any sense from any direction. As long as you can take care of yourself, why worry about anything else?

You have to protect your finances because the truth is that other people have it out for your finances. You are a source of profit to the credit card companies. They are just waiting for you to go off the rails. Credit is definitely a good tool, but it should be just that — a tool. As long as you focus on the road out of debt and responsible spending, there’s really nothing that you can’t accomplish in your life. If you want a house — you can have a house. Just don’t get more house than what you can afford. If you want a car, the same advice applies — you have to stay within your means. Yes, it can be hard to do that when you see other people have something that you want. But the truth is that you really have to focus on your own lifestyle, and not everyone else’s. In fact, this is how people go into debt. They get so caught up in what others are doing that they don’t really think about what they want to do. That doesn’t have to be your future, so go claim what matters to YOU!

Continue Reading

Stay Away From Vague Information in Your Finances

Information is really power, and the highest example that we can think of is your finances. You’re going to find a lot of people that really do want to see you get the best information possible. However, it’s going to be up to you to make sure that you use that information to your advantage. Sure, there’s going to be times where you’re going to be really frustrated and you’re going to want a lot more answers than what people are going to want to give you. Knowing where to start is half the battle — the other half comes from taking action and having the courage to do something different.

Far too often people feel like debt is inevitable and once you have it, it’s impossible to get out of debt. It’s impossible to change your life. It’s impossible to move to a point where you don’t have to worry about the debt anymore. The truth here is that you really just need to have the right attitude. Think about your financial goals and what you actually want to accomplish with your life. If you’re someone that really doesn’t want to make too many changes, then you just need to make sure that you think about your goals. Are your dreams and goals worth it? Then you’re going to need to make some change sin order to get there.

financial life

First and foremost, what you are going to have to do is get clear answers about your finances. You want to ask how much money you have in checking. How much in savings, how much in the investing accounts…everything, really. It’s tempting to run from your debts and your assets because you might have more debts than assets, but that’s okay. Like we said earlier — things can always change.

You want to pull your credit file at least once a year as the advice usually goes, however we strongly suggest that you make it a little more frequent than that. Yes, it’s going to mean that you will have to spend a little money but in the long run, this is definitely worth it.

You also want to make sure that you are looking at what is actually leaving your house. Do you even save your receipts? Balance your checkbook? Use those starter checks from your bank or credit card company? Do you take out loans and not really keep track of how often you’ve rolled the loan over? These are all questions that you need to use in order to push forward and really make sure that you think about the future from start to finish. Sure it’s a topic that nobody really wants to think about, but in the long run — getting clear answers about your financial life is really the beginning.

Once you get the right information, you can actually build an action plant hat works. If you only have a vague idea of how much you make, how much you spend, and how much you owe, you’re never going to get anywhere too quickly.

Don’t forget — now is definitely the time to take action, so don’t delay!

Continue Reading