There comes a time after all the Xmas and New Year fun and excitement is over when we realize that we may have spent a little more than we should have and now you are wondering what to do about it.
Financial stress can have a flow on affect whereby if we let it get out of control it can very quickly begin to impact our mental and physical health as well as our relationship with others.
Don’t let the worry and stress take control!
Here are 5 steps that you can take to assist you in managing your money in 2015:
- Remain positive at ALL Times – It is vital to remain in a positive frame of mind – Most people don’t because they believe that they can’t get ahead of the bills – This is wrong in most cases – You need to find a way to remain positive. Imagine what it will be like for you when you are actually saving money. What would life look like for you?
- Talk and plan with your partner or a family member– This needs to be a joint effort and with the same goals – Some negotiation may be needed here. Understand your financial position – Determine your income from all sources and then determine what your expenses actually are.
- Reduce your debt – Find low cost options, Consolidate loans where possible, reduce smoking or even better try to quit, this will be good for your health as well as the budget!
- Make a Budget and stick to it – This is vital. Use shopping lists, buy specials when available.
- Seek assistance from a financial counsellor if needed as they can assist you to look at all the different options available as well as assisting you in negotiation with creditors.
Your local bank may have budget templates that you can use. The internet also has a wide range of budget planning tools that can be downloaded which you may find useful. The Australian Securities and Investments Commission have a free online budget tool which can be found at the link below:
Maintaining a healthy lifestyle with good sleep, exercise and balanced diet will also help you manage
Remember one of our mottos:
Happiness is not the absence of problems; it’s the ability to deal with them.
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