Realistic Budget
There are two categories in finances, variable and fixed. The fixed expenses that you have do not really change much month to month. These would be your bills like rent, utilities, loans and car payments. Always try to do anything you can to lower your monthly costs. When is comes to variable expenses, take a look back on how you have previously spent your money and track them every month to make sure you are managing your money well. Using apps to keep track of your finances is idea as well. It will show you the big picture.
Negotiate
If you are really struggling financially, now is the time to hone your negotiating skills with creditors. Do your best to get them to compromise between what you want and what they want.
Set Aside Part of Your Income
If you are early in your career, try and ave at least 16% of your annual income. Just save as much as you can. It may be hard to think about saving, but try your best to save what you can and not touch it. It will be well worth it in the end.
Get Smart With Your Credit
Don’t miss any due dates with bills to keep your record clean. When it comes to debt, really push yourself to pay as much as you can whenever you can and on time! Super important to get rid of that debt fast.
Invest
Putting your money somewhere that you can multiply it, is the smart thing to do. Seek professionals about investing if you do not know how to! INVEST INVEST INVEST!
