Do you have trouble keeping track of your expenses, and maybe you keep overdrafting your bank account or paying bills late? You don’t have to live like that, and by learning some ways to better track your expenses, as well as how to cut them, you might be able to get out of the paycheck-to-paycheck living cycle. You may even be able to start saving money.
If you’re already stuck in a mountain of debt it’s time to get yourself a debt consolidation calculator and figure out how to start paying that off. In the meantime, here are some other things you can do to get in better control of your money and your expenses.
Money In, Money Out
Start keeping track of all of the money you have coming in and all of the money you have going out. You might even want to consider getting a dry erase board that you can hang on your wall where you can keep track of what bills are due when and how much they cost. This is extra important for people that have a good deal of bills they pay monthly, from utilities to credit cards.
If your money coming in varies you’ll want to keep that in mind when it comes to when you’ll pay those bills that are due. You might find that it’s better to pay some things a week ahead of time to ensure it gets paid. This could be because you only get paid twice a month, or because the due date for that particular bill falls too close to payday.
What Can You Live Without?
Take some time to decide what things you are spending money on regularly that you can do without. If you have store credit cards that seem to continually be maxed maybe it’s time to hide them away somewhere for a few months until you can get them under control.
You may be able to cut back on things like electric and heat usage. You may also want to consider cutting back on entertainment expenses. If you have cable then you don’t need to be paying for streaming services, and vice versa.
How To Bring More Cash In?
If you’re not bringing in enough money to cover your bills then it may be time to come up with some ways to make some extra income. You could get a second job outside of the home, something part time that will work with your main employment.
You could also find some ways to make money online. You could write articles in your spare time, take surveys that earn cash, sell stuff online, and an array of other interesting things. These types of money makers don’t have to take a lot of time out of your day either.