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4 Solutions To Money Worries

4 Solutions To Money Worries

Anybody who says he has never had money worries in his life is either one of the Queen’s children or a liar – possibly both.Although we all like to imagine that a little extra cash would solve all our money worries, it inevitably doesn’t – more money equals more worries, just slightly different. The key to minimising these worries is how you manage money and not how much there is to start off with.

1. BE PREPARED

Know exactly how much is coming in and construct your budget accordingly, putting money aside every month in readiness for quarterly bills.

2. DON BORROW TO GET OUT OF DEBT

It might seem obvious, but wipe out your money worries you need to wipe out your debts, so work out a plan to pay them off from your income.

3. PAY CASH

If you are trying to keep strictly within budget, draw a prescribed amount of cash at the beginning of the week/month and work from that. When it is gone, it is gone.

4. SAVE UP FOR THINGS

Don’t put them on a credit card and vow to pay that off, save the money by making other sacrifices within your budget. The enforced wait will confirm whether you really want whatever it is or not, and will put an end to the expensive impulse buys gathering dust in your wardrobe or workshop.

Culled from Essential Works

READ ALSO: 3 financial benefits of budgeting

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