Even though no one sets out to become broke. A loan here and there, a bad investment here and there, and a couple hundred swipes of the credit card later—we’re busted, and we have no idea how we landed in this state. I look back at my life a few years back age …. and wondering how I got there? Totaly out of control hoping for things to get better, I had to take a hard look at my situation and had to make changes. For me staying the same was harder than the decision to change.
You don’t have to be living out of your car to be broke.
Broke is living paycheck to paycheck with no savings intact. Broke is being in debt up to your eyeballs. Broke is buying a brand-new $35,000 car because you can “afford” the monthly payments but not having enough in your bank account to cover a $1,000 emergency.
The funny thing is, we live in a society that calls this type of living normal.
Because of my decisions and where they took me we learned and we don’t do normal here. I decided to become weird. You want to break the mold and live like no one else? Here are some action steps you can take to turn the tide.
Live on Less Than You Make
This is non-negotiable, let others be wreckless, careless, and pretenders with their money not you, take a look at your take-home pay and outgo each month. Make a monthlyzero-based budget and you might be surprised by how much extra dough is slipping through your hands.
Grab that money and tell it where to go. You will start to feel like you’ve just given yourself a raise! Read The Sectret to Saving Money
Create a Game Plan
Take consistent steps to stay in your budget. Go over your budget every week, make your short, mid, and long term goals as part of your budget. Your short term goals should be achieve within a year. Your mid term goals 2 to 5 years. And your long term goals 5 to 10 years. Read Budgets are Designed to Help You Win
Increase Your Income
Look for side jobs you can pick up—dog walking, delivering pizza, freelancing. Or is there overtime available at work you could take on? Maybe it’s even time to get up the guts to ask your boss for a raise.
If you feel like you’ve reached the end of the road in your current field, consider looking at new career paths that may generate more income.
Read 10 Ways to Make Money on Your Spare Time
Begin With the End in Mind
Instant gratification will get you into trouble time and time again. If your potential purchase isn’t in the budget, back away slowly. Remember that making minor sacrifices now will pay off in the long run. Know what your end goal is, and then go after it!
Do the Math
A stay-at-home parent could consider going back to work, but look at the potential income versus the expense. Would day care costs rival the income amount of the new job? Be sure to crunch the numbers and see where you land. And don’t forget the things that can’t be seen in monetary value, like health care benefits, company reimbursements/discounts and other perks.
Be proactive! If you aren’t satisfied with your current situation, take a practical step forward. Submit your resume for that ideal job you’ve been dreaming about . Sell the car . Open your eyes to the need for change and then make it happen! Consider starting your own business and more importantly stay on top of your number but be consistent. Read Why You Need to Become a DIY Hero