How To Stop Living A “Hand To Mouth” Existence

We all have difficulties when it comes to conserving our finances. It seems to be a big problem now that so many of us are living hand to mouth.

This means that you are earning just enough to pay off your immediate debts to live (albeit in a very uncomfortable way).

And as soon as your debts leave your bank account you build them all back up just in time for them to leave again, this cycle would leave anyone miserable.

So what is the best way of getting out of this cycle? Is it about getting another job? Actually, it isn’t. In some ways, it’s a bit simpler than that.

 

Understanding Your Options

This is probably the most important part of getting out of that debt cycle. If you know what resources you have, then you can start to dig yourself out of the hole.

There are payday loan companies which can be considered to be a dirty word, but there are companies like Money Boat who give detailed information on if a payday loan is suitable for you, and you can discover Money Boat services at their website.

Other options can include consolidating your debts, because you may realize that your outgoings are scattered over various credit cards each with their own interest rate which gives you higher outgoings than if they were consolidated onto one 0% card.

Another simple option is to invest that money, however little you have spare, which can then accumulate in the space of a year but this is something that takes the time to accrue.

You won’t see the immediate results, but it can help you to get out of this cycle down the line.

 

Addressing How You Live

In other words, is your lifestyle to blame?

We all like to enjoy the finer things in life, but it’s not just about buying brands, do you pay the cheapest insurance premium you can for your coverage?

Are there ways around expensive childcare costs?

Do you live in an area that is too costly for your budget? There are countless other questions to ask yourself when it comes to addressing how you live.

Once you have answered these questions, you’ll have a better understanding of what you need to do to make sure it doesn’t weigh heavy on your bank balance.

 

Do You Have The Discipline To Build Wealth?

This is usually the biggest issue we all have to address. When it comes to saving money a lot of us simply don’t have the discipline to save, and it’s hardly surprising with a number of financial pressures we have on a day-to-day basis.

If you have bad financial discipline, it’s very simple, you should put factors in place that will stop you withdrawing money at every turn.

There are bank accounts where you are unable to access the funds, and if you do this concurrently while paying the minimum balance on each debt, you will gradually save money over time.

It’s not easy, but if you are living hand to mouth, the best way to address these problems is by looking at what options you have, in tandem with your lifestyle, and changing your mindset.

 

My Final Thoughts…

So are you living the “Hand to Mouth” existence?  What are you doing to change this?  I know for me I dealt with this for years thinking it was everything from my job to the people in my life but when I stepped back for a minute and actually looked at the situation I realized it was actually me that was the issue.

So what are your thoughts, I know this can be a bit hard to swallow and accept but after reading this article are you looking at things a little differently?  Share your thoughts and comments below.