No matter where you’re at financially, the good news is that your financial future is not set in stone. Regardless of how bright or how bleak it seems at the moment, there are ways to ensure it will be better than you think it might be at the moment. There are certain things you can do in a very short space of time to improve matters, and not all of these will require major shifts to the way you’re living your life!

#1: Work with a finance professional

I’ve been back and forth on using a financial advisor during my time running this site, but I will say that if you’re in a bind and need professional help, getting counseling or guidance can be smart. You don’t have to manage your finances alone as there are people out there that can help you. These include debt charities, accountants, financial planners, and wealth advisors. There is an example of the latter here; https://www.veracitycapital.com/services/wealth-management/.

So, if you’re struggling with debt, need help with your day-to-day finances, or need somebody to help you grow your riches, get in touch with the professionals that can help you. With the support of qualified and experienced people, you will have the know-how to improve your financial situation, no matter how good or bad it is at the moment. 

#2: Learn how to budget

Do you know how much money you have leaving your account each month? Do you know how much money you have left in your account after your bills have been paid? If you aren’t able to track your finances, you could find yourself in a financial mess. Budgeting is probably the number one piece of advice I can give; it’s super important! Budgeting is a skill that we should all learn so check out the advice we gave here. 

You don’t need to be good at math or spreadsheets either so don’t worry if you don’t have a head for numbers. There are lots of downloadable budgeting apps in your phone’s app store or budget templates. Browse the budgeting tools that are available and download something that is suitable for your particular needs. 

#3: Put money into a savings account (or two)

The more money you have squirreled away, the more money you will have to spend in the future. So, compare and contrast saving accounts online and look out for those with the best rates of interest. Make regular deposits each month by directing a portion of your income into your savings account and if you ever find yourself in a position where you have extra money each month, put that into your savings account too. 

It’s recommended that you also open a second savings account for emergencies. This will be your emergency fund. So, whereas the first account can be used for your financial goals, such as your retirement or college fund, the second can be used for when you need money in a hurry. You could use it for car maintenance bills, for example, or an unexpectedly high tax bill! You won’t need to dip into your regular savings if you have a second account, so you will have the opportunity to safeguard your financial future. 

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#4: Deal with your debt situation

Many people are in debt so you don’t need to be ashamed if you have money struggles. Debt can be easy to get into, especially after taking out loans for purchases or higher education. But no matter your reason for being in debt (assuming that you are), you don’t need to be tied to it forever. If you don’t get on top of it, you could be making debt payments for years to come, and this means having less available income for your savings. We have lots of articles on debt on our website, including this one.

Browse our site for other useful advice and then seek help from a debt charity if you need to. The sooner you are out of debt the better, not only for your financial health but for your mental health too, so be proactive and don’t let it rule your life any longer. 

#5: Find ways to boost your income

Money doesn’t grow on trees, unfortunately, and even if it did, those trees would be empty by now due to the many people plucking at the branches in a bid to boost their own income. Thankfully, we don’t need magical money trees to improve our finances as there are other ways to acquire more money.

There are lots of ways to increase your income. You could get a better-paid job (it’s a hot job market out there), take on a side hustle, sell items you don’t need, or invest your money in some way. With regards to the latter, you will find lots of advice on our website, including this article on stock market investing; .

So, if you aren’t bringing in enough money for your future goals, do what you can to increase your income. We have only touched upon some basic ideas but you will find plenty of others online. 

Finally

Instead of simply dreaming about a better financial future, do what you can to make your dreams come true. Use the advice we have given here and browse our website for many other helpful articles that can help you improve your finances.  

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