It’s a very negative term, “surviving.” Because everywhere we turn now, there seems to be some kind of deficit in the budget, or the value of shares is decreasing in large amounts.
While this may keep stockbrokers up at night, what does this mean for us, the everyday person? For those that are leaving university and heading into the big wide world, it means everything!
The prospect of buying a home or using their education to get a worthwhile career seems to be slim pickings.
The most important items we hold in our adult lives is the ability to buy a home instead of rent and to make sure that we are saddled with the least amount of debt possible.
So, how do we do this?
Start A Backup Fund
A rainy-day fund can seem to be an impossible task, but the way to start on the road to financial independence is to get into the habit of saving.
You don’t have to put all of your money away every month, you won’t enjoy life, but the best method to save and prepare is to get into the right mindset.
Much like going on a diet, you need to set yourself goals and targets.
Look For Advice
The problem with so many people when they look for ways to save is that they simply do not know what is out there.
Being saddled with any amount of debt can be a stressful situation to be in, but there are banks with the best debt relief options and other areas to research.
You have a wealth of information online, so depending on your specific financial situation, you can find a suitable solution.
Understand The Importance Of The Percentage!
Interest rates are something that just appears to be a thing that is tagged on and doesn’t really carry much weight.
But looking at how much a loan can increase your debt purely by the percentage rate, it means that you could end up paying more than you originally took out.
So, if you are looking at loans or ways to settle your debt, get the calculator out! You may find out that you are wasting time on getting a loan or a credit card to pay off your debt when it costs you less in bank charges to extend your overdraft.
It pays to have a little knowledge of how much more it can cost you.
Look At Your Spending Habits
Simple, yet effective. Are you spending money on a phone bill where you don’t use all of your data, or is that one cup of coffee you purchase on the way to work easily swappable for a portable cup from home?
Examine your spending habits and look to see what is really necessary!
These pointers are simple, yet they are the foundation of making sure that we are all without debt and without worries.
It’s all about being sensible, and while we need to survive in these difficult financial times, it’s really important to make sure that you are enjoying your life. Surviving from paycheck to paycheck is not the best way to live.