Search Results for: budget

If adulting has taught us anything, it’s that you can’t rely on anyone but yourself.

While having a network of friends and family is important, ultimately, it is up to you to create the life you want for yourself.

Therefore, it is important to take the funds you have and put them to good use by investing in yourself.

Here are the best ways to invest in yourself:

Save Something Every Month

Life is hard. Unexpected expenses pop up when you least expect them, and even without a crazy expensive event, life happens. Whether it is for something good or bad, we are shelling out our hard-earned cash for something every time we turn around.

However, to invest in yourself and save money every month, you need to start making a budget. Write down all your expenses pair that against how much you make per month.

Once you figure that out, go back through your budget and see where you can shave off a few savings.

For instance, do you pay for Hulu and Netflix every month? If you alter your subscription from month to month, you won’t miss any shows, but you will cut your streaming service bill in half.

Here are a few other ways to save some money:

• Eat home more often
• Refinance high-interest debt
• Reassess your bills to make sure you’re getting the best deal for what you need
• Take advantage of coupons and loyalty programs.

Once you have found savings and accumulate, open a savings account and put the money you’re saving in there. Month after month, it will add up, which will encourage you to continue saving.

Get (and Stay) Organized

When you live and work in an organized environment, you feel better about yourself. Knowing where everything is, with everything having a place, you can spend less mental energy on thinking about how much you have to and looking for lost items, so you have more time to get the work done and stay organized.

This organization will also help you earn more time in the day to get more accomplished and have more time to yourself.

Set Goals

Setting goals and writing them down solidifies them in your brain. It helps you visualize those goals, which gives you the incentive to make them a reality.

It doesn’t matter what you want to do. If you work towards it, you can achieve it. However, the only way you are ever going to achieve your goals is to take the first step toward that achievement.

The best way to do that is to write your goals down and place them somewhere that you will see them every day. When you have your goals written down and hanging up close, seeing them will reaffirm your dedication.

Learn Something New

Learning something new, either by reading about it or taking a traditional class, can help expand your horizons.

Whether you want to own a ski resort in the alps or attend one of the best law schools in San Francisco, the first step is to learn about it. You want to have as much information as possible before you make your move.

So, invest in yourself by learning absolutely everything you can about the passion you want to pursue, and then go for it!

Improve Your Health and Wellness

If you start to make healthier choices in your life, you will save money. For instance, if you start eating healthy, you will lose weight and eat less. Therefore, your grocery bill will go down.

If you are eating healthy and losing weight, you will feel better, encouraging you to do more things outside instead of paying for constant indoor entertainment.

Plus, if you are healthy and feel good, chances are, you will have a better quality of life and live longer.

Thus, you will have made a lifelong commitment to investing in yourself.

Get Creative

Adobe published a study that stated 75% of individuals don’t believe they live up to their creative potential.

Creativity is a gift that makes us all unique. It is an outlet that helps fuel the expression of our soul.

Therefore, by investing in creativity, you are investing in yourself on a deep and meaningful level.

The only way you can get ahead of your finances and take control of your life, in general, is if you invest in yourself. If you start working through this list of the best ways to invest in yourself, you will begin to see an almost instantaneous change.

Some people encounter an unforeseen circumstance that causes them to fall into debt. Others simply mismanage their finances and dig themselves into a hole they can’t see their way out of. Regrettably, I fall into the latter group. I started misusing credit in my early twenties. Fresh out of college, I opened a Visa, Mastercard, and department store card. Tired of the penny-pinching lifestyle I had adopted in college, I splurged every chance I had.

Living The Good Life

I lived in a decent one-bedroom apartment, had an entry-level position as a paralegal, and thought I was on top of the world. I kept my credit card balances pretty low (in the beginning) to the point creditors offered to extend my limit. Then, I got comfortable and began charging everything from lunch to new suits. Within two years, I had $5,000 in credit card debt on high-interest credit cards.

Until I Wasn’t

The company I was working for had some budget cuts and my hours went from full to part-time. On top of that, creditors constantly called, threatening further collection actions if I didn’t pay the balance. With no money in the bank, a past due rent bill, and a tight budget, I realized I needed to get serious about my finances.

Debt Consolidation Changed Everything

A co-worker told me about their financial struggles and how they turned to a debt consolidation agency for relief. The company got them approved for a small debt consolidation loan to lump all their credit card balances into one. The interest rates were lower, the credit card accounts were settled, and the collection calls stopped. I figured nothing beats a failure but a try, so I asked for the contact information.

I visited BriceCapital.com and learned more about the agency. After analyzing a few reviews, I contacted a financial advisor that helped me get approved for a $5,000 loan. The interest rate was five percent less than my credit cards, and the monthly payment was affordable. As long as I stuck to the repayment plan, I’d have my debt paid off in no time.

Inspired To Do More

The relief I felt from consolidating my credit card debt inspired me to get more disciplined with the rest of my finances. I quickly realized that I didn’t want to remain in this position any longer. If I was going to live stress-free, I had to take steps towards making positive change. Here’s a quick look at what else I did.

• Budgeting – I had developed a bad habit of spending money I didn’t have and repaying it whenever I got the chance. By creating a realistic budget that listed my everyday expenses compared to my income, I corrected my behavior.
• Saving – You never know when something could throw your finances out of whack. I learned that the hard way with my job. I wanted to have a cushion just in case something like that happened in the future. So, I used the savings from the debt consolidation loan and set it aside for a rainy day.
• Tying Up Loose Ends – Credit cards weren’t the only debt I had mismanaged. I still had student loans and an old cable bill I let go into collections. I signed up for an income-based repayment plan with my student loans. The cable company offered me a settlement amount that I paid upfront. I even contacted my landlord and agreed to pay an additional $50 on my rent until my balance was up-to-date.

When you’re young and carefree, you don’t think about how misusing a credit card could lead to physical, emotional, and financial stress. Fortunately, I learned this lesson early on and was able to do something about it. Consolidating my debt with Brice Capital inspired me to get serious about my finances. Now, I’m on track to living the life I want without my past financial mistakes weighing me down.