How many people do you know who are suffering from stress at the moment? Everyone seems to have their problems and if you don’t have any right now you might soon. The reason most people have a problem is that they worry about money. There is not much going around and it doesn’t help when you could lose your job. If that were to happen you would be in some serious trouble and your mental state would only get worse.
The only real solution is to have a plan in place. Do you have a nice little nest egg hidden away under your mattress? Everyone must have an emergency fund because even if you don’t need to use it you will notice it helps your state of mind. The first thing you need to do is start putting money away and we’re going to look at some ways you can do it. You will finally feel like you have some protection from anything bad that could strike at any moment.
Before you see it
When your wages land in your bank account you don’t see them straight away. This is usually the time your bills come out because you know there won’t be any money available in the middle of the month to pay them if you’re let loose with your wages. You need to do the same with the money you put in your emergency fund. There is no use seeing what you have available at the end of the month, so transfer money into a savings account straight away.
A second job
Do you have lots of free time available at the moment? You could try and find a second job a few times per week. It’s better than coming in from work and watching TV. You won’t mind feeling tired because you will feel a lot safer knowing all that money is sitting in your emergency account. This won’t be possible if you have young children, but if you don’t and you’re struggling for the money you should think about doing it for at least a few months.
Sell some junk
Everyone always has junk lying around the house that they will never use again in their life. What is the point is letting it gather dust? They say one man’s junk is another man’s treasure and it’s true. There will be someone out there who will be very happy you’ve decided to sell them something you will never use again. You obviously don’t tell them it’s junk otherwise you won’t get much for it. List some things on eBay and put the money straight into your emergency fund.
When you’re walking around the store you probably pick up the same food you do every other week. Is there any way you could spend less money if you changed the menu at home? Do you need to eat those expensive cuts of beef all the time? If you can’t save money in the supermarket you can definitely stop buying breakfast and lunch every day when you leave the house. Start making food at home and all that extra money you save will add up by the end of the month.
Just because you love doing something doesn’t mean you have to do it all the time. I’m not saying you should stop enjoying your hobbies, but if they cost you a lot of money it might be worth giving them a miss for a few months and trying to do things that are free. They might make you feel good, but having no money in the bank makes you feel bad and after a few months when you do have a little money saved up you can go back to enjoying your hobbies with your mind at ease.