When the year begins, the last thing that you want is to be in debt. Unfortunately, January is a hard month for us all, and seems to be a time when all of those last minute bills and payments rear their ugly heads.
With the aftermath of Christmas spending still looming, it can be hard to get yourself into a good place, let alone try to focus on repaying debts and outstanding payments. Don’t lose hope though! There are a few simple tips that can help you on your way.
Out with the old – If you have a lot of clutter in your home, you might find that one good way to start working towards being debt free is to get rid of the junk that you no longer need.
By selling your unwanted items, you can turn them into cash that can then be used for your benefit in the coming year. Use it to make an outstanding payment or put it towards something that is going to make a difference to your financial situation.
Finance management – It is important to get a good handle on the way you manage your finances. If you were to contact one of the top tax consultants in St. Louis, would they approve of the way your business is running?
Pay more attention to detail on taxes and paperwork. If you are still struggling then maybe now is the time to hire a professional, or to look at hiring an assistant to help you to get organized.
Home life – managing your home life is just as important. You need to look at making changes that will allow you to save money rather than cost you more at home. A great way to take stock of this is to create a list that shows all of your in-goings and out-goings.
Check through your list and decide how much of what you are spending is a luxury and how much is a necessity. You can then make changes in the relevant areas.
Home savings – coming up with a way of making regular savings is fundamental to becoming debt free this year. You need to generate a little extra income here and there so that you have more chance of paying extra money off of your debts. Work out a plan for every month and stick to it!
You could consider simple things such as starting a savings jar, or move forward to look at more in-depth options like taking on an extra few hours work in the evenings. This doesn’t have to be a long-term solution, but anything to bring in some extra money to keep you above water this year will help your end goal.
Making just a few small changes to your life is the best way to ensure that you can move forward. Positive thinking and taking action in the early stages of the struggle can make a world of difference and will stop your situation from getting worse in following years. Nip your finance worries in the bud today!