🌻10 Must-Dos If You’re In Financial Trouble


Implement right now and create a quick turn around

Create a budget and follow it.

Without a budget, it isn’t easy to know what is coming in and going out.


Spend less than you earn.

If you consistently spend less money than you bring in, you will never be in debt, always have more than enough resources at your disposal, and have fewer (if any) financial worries. When you’re spending less than you earn, you save 100% of the time.

Read also: 3 habits the wealthiest people practice daily that most others don’t

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Don’t fall into the materialism trap.

Society teaches us we should buy more and buy more often. Do the opposite. Buy only what you need and genuinely desire.

Invest as if your life depended on it.

Investing is the best way to make money, plus it sets up your money to work for you 24/7.

Create more than one stream of income.

Never, I repeat, never have one stream of income. Always have more than one. If one goes downhill, you still got one left. When you lose one, immediately replace it.

Stop upgrading your devices.

If you’re upgrading your devices but not paying for them in full, you’re keeping yourself in debt. Instead of upgrading your iPhone every year, upgrade every 2–4 years. Not only will you not miss much feature-wise, but you will keep your phone bill lower, which equals more money in your pocket.

Stop eating/dining out.

Eating out adds up QUICK. If you’re charging credit cards to eat out or dumping a large percentage of your income into eating out, cut it out. All the money you’re spending on eating out can be better utilized on investing (#4). Plus, it’s better for your health. The healthier you are now, the fewer financial costs related to your health down the line.

Stay off the shopping apps (i.e., amazon).

Stay off the online shopping apps if you don’t have an intentional buy in mind or haven’t budgeted for additional shopping. Because guess what? You will ALWAYS find something to buy; there is no end to it.

Watch the housing costs.

The highest expense for American families is dun dun dun: housing. And most of us want to experience luxury living. However, as we make our way into our dream homes, let’s not rush the process. Let’s ensure we can afford the house/apartment/townhome/etc. The best way to know you can afford a house is if the cost does not exceed 25% of your net income.

Read also: 4 ways to become wealthy (study this)

Educate yourself daily.

Learn something about finance every day. Just as you feed your body, feed your mind with financial knowledge. Knowledge can come from a book, podcast, mentor, conference, youtube video, or financially savvy friend. Keep learning and exploring the world of personal finance. The more you know, the better your long-term financial outcome.

CONTRIBUTED BY Destiny S. Harris

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