Are you tired of looking for how to live the perfect life? money management challenges come in various forms.
It can be overwhelming when you have tried all the planners being advertised online, by different bloggers and influencers.
The question is can you really manage your time to get more money you desire?
Managing time is almost impossible. You can do things on your to-do list but sometimes you feel stressed and not living a happy life just because you are trying to do things chronologically every day.
Someone once told me “I just want to live”. This is because we go from one task to another and it is unending. Living is as important as achieving your goals.
So how do we overcome life and money management challenges?
There are different ways to do this. One thing for sure is that different solutions work for each person. Make sure you choose the right one for you.
Table of Contents
Take it a day at a time
One of the best pieces of advice I have received is to take it a day at a time. Live in the present. At every task try to enjoy it and be positive. Sometimes it is not just about achieving your goals. It is also about living. There is only one life and that is what you are doing now. Live in the present so that you can live. It is okay not to have a passion for things. It is okay to just be interested in different activities, you can start from there. Some common financial challenges can be a result of this. Not taking time to evaluate your income and expenses.
Avoid unhealthy competition
Competition is in various forms and some are very dangerous to your mental health. Are you competing with colleagues in fashion or with friends, and family? Are you doing a personal financial competition with people? Yes, some competitions are okay when they are positive and don’t wear you down. Competition in a career can be a form of learning to build your career. So just compete with yourself to be better. You can join money saving challenges because this will build your finance.
Live according to your means
Do you live outside your budget? You have made your budget plans but you still go above it. You need to find the reason why you do this and fix it . It will help you build your life and money management challenges.
Put your emergency fund at the top of your list
Money management challenges can lead to different things such as emotional distress, depression, loss of connection to social life and so much more. Building your emergency funds can help you maintain a balance during a life crisis.
Having cash set aside for future purposes can help you settle big expenses whenever they come unplanned. Going down memory lane will help you build the best mindset toward prioritizing your emergency fund. This can be done by thinking about how you survived with the little you had during your days of little beginnings and your resilience during tough times. Always appreciate where you are, and be thankful for the moment.
Always pay your debt
Having existing debt during life and money management challenges can be overwhelming. Sometimes your creditors will require you to pay and don’t care about your situation. To avoid always being in a state of urgency for money. Don’t carry over debt. When debt is left unpaid it leads to more debt. This is because it accrues over time.
The best payment method for debt is to make regular payments to pay it off over time. Considering different ways that have little or no interest charges will help you pay off your debt on time
Don’t just write a budget, always go back to check it
When faced with life and money management challenges we often have choices. A budget will help us look at what we have written critically and make the choice based on what is irrelevant. For example, subscriptions that are reducing your savings can be stopped to enable you to save more.
We know that sometimes some items in our budget may not be negotiable but spending with caution can help us know what we need immediately and what can be left to buy in the future. This creates more time to find financial solutions to your challenges
Think about a side hustle
Are you scared about losing money during your search for a side hustle? Money management challenges can lead to failure in some start up. When you choose the right side hustle for you. It gives you more life and money freedom. It helps settle some bills and increase savings and emergency funds. A side hustle is good for anyone but it is not a get-quick-rich scheme.
You can take it one step at a time.
In order to manage your life and money you need to live a day at a time. Money management challenges can lead to various issues if not taken care of.
