The holidays are over, and it’s time to face the music: your finances. You may be feeling the pinch after all the spending, but there are plenty of things you can do to get back on track.
Januworry and its woes are well documented and if you find yourself in the group with those that didn’t survive the extra expenses that come with the holidays, don’t be too hard on yourself. Luckily, there are so many things you can do now to help you get back on track to financial wellness, an essential part to your overall wellbeing.
1. Be realistic
Don’t try to do too much too soon. Instead, set small, achievable goals. For example, you could aim to save a set amount per week or pay off a specific debt. Breaking down your goals into smaller steps will make them seem less daunting and more manageable.
2. Relook your expenses
Check your budget and look for ways to cut back on unnecessary expenses. This could include things like eating out less, cancelling unused subscriptions, or finding cheaper alternatives for things like satellite TV and the internet. This is also a good time to contact your lenders and negotiate a payment agreement if there are accounts that are overdue. Trying to ignore your debt doesn’t work.
3. Ask for help
If you’re feeling overwhelmed by your finances, don’t be afraid to seek help. There are many resources available to help you get back on track, such as financial counsellors and credit counselling services.
4. Start a side hustle
Having multiple streams of income is one of the ways that you can try to better your financial standing. There are many different ways to make money on the side, such as freelance work, driving for a ride-sharing service, or selling items online. People are also making a good income from social media sites such as TikTok, so research what might be appropriate for you and try it.
Whatever you do, make sure it improves your existing skills, knowledge, and productivity to make you stand out for that promotion at your current place of employment.
Remember, the most important thing is to be patient and consistent.
By taking small steps each day, you can achieve your financial goals and live a happier, healthier life.