Disappointmoney: Finding Realistic Goals

For most people, money is a challenge which will fluctuate between two states; strict and irresponsible. Towards the start of the month, after being paid, it can be far too easy to spend too much, burning through the money you have. As this the bank drains, realisation will strike, and rules will be put in place to keep your finances in check. This is where the main problem occurs. The goals which people set for themselves are far too lofty and this leaves people reverting to their old ways as soon as their next payment comes in. To solve this for you, this post will be exploring some easier goals than the ones you’re aiming for.

Staggered Savings: Going straight into saving a quarter or half of your money each month will be a big challenge when you haven’t been putting anything away. To make this easier, it can be a good idea to start off a little smaller

With each passing paycheck, you can increase the amount your stowing, eventually leading to the original goal you were trying to achieve. Of course, this will often take longer than going right into it. But, if it gives you a higher chance of success, it can be worth sacrificing a little bit of time for it.

Debt Consolidation: Trying to manage a group of loans, all asking for regular payments, can be impossible for some people. The reason you had to get them in the first place was thanks to financial struggles, and it isn’t likely that you’ve improved enough to offset the difference. To solve this issue, debt and credit card consolidation can be a great route to go down. Keeping all of your money tied into one easily payable bill, this sort of method will take a little longer to sort out, but will make it much easier to keep on top of the money the bank is asking for. This can be the best way to take away the stress which can come with debt.

Earning Potential: It’s important to come up with plans for your money going into the future, as this will make it easier to figure out the best actions to take at each stage. Over estimating how much you’re going to earn can be a big mistake, though. This can leave you unable to afford big paymentslike your mortgage or bills, and will make it harder to support a growing family. Instead, it is best to plan based on your current earnings, and adjust your timeline accordingly as your income increases. Of course, this doesn’t mean that you can’t think about earning more, as this can be good motivation, too.

Hopefully, this post will give you everything you need to get started on mastering the financial goals you set for yourself. Going to strong with this sort of thing can be just as bad as being lazy, even if it seems like the right thing to do. Instead, it can be better to be patient, saving and spending only when you can.

*collaborative post*

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