How To Save Some Money And Improve Your Financial Health

byNinex77

79 followers

Updated 4 years ago

Do unpaid bills cause you to lose sleep? Are you being hounded and harassed by creditors? If the answer is yes to these questions, don’t fret too much because you are not alone. Many people nowadays are having trouble paying their debts.

A person who is unable to pay his debts as they fall due for a number of reasons may be declared bankrupt by himself or by his creditors. You are in financial trouble if:

1. You are living beyond your means or spending more than what you are earning.

2. If you are relying on credit for your daily needs.

3. If you are having trouble stretching your paycheck to cover monthly bills.

Financial troubles should not make you lose hope. There are many solutions to regain financial health. All you have to do is act to cure the defect. First off is to consider available options:


1. Careful budgeting won’t come amiss.

2. Create a plan of possible expeses according to priority.

3. Reduce unnecessary spending such as vacations, expensive entertainment and impulse buying. Instead of dinners in expensive restaurant try a barbecue. Aside from reducing the expenses, this is an opportunity for the family to bond. Clipping coupons, purchasing off the rack clothes, taking advantage of sales are several techniques to scrimp and save.

4. Living like broke college students (at least until the crises is over) would greatly help reduce expenses.

5. Try not to use the credit card as a ticket to unlimited spending spree. Remember that these purchases will have to be paid later.

6. Time deposit saving with low interest rates can be withdrawn and used to pay high Interest loans.

7. Selling assets such as cars and vacation houses will not only realize cash but will reduce maintaining expenses.
I really hope this article is useful for many people not only the Wealthy Affiliate members becuase I have used this rules for my financial safety and they have worked great so far.