Money problems have become a poison in your life, and you’re begging for the antidote.
You’re not alone either:
There’s millions of people in the same boat – people anxious and tormented by their serious financial problems (and without a clue how to solve them).
But you’ve had enough with feeling defeated.
And you’re sure as hell sick of being sorry for yourself.
It’s time to get bold.
It’s time look adversity in eye, flick a cigarette in its face, and tell it:
Ready to back on your feet, revitalize your spirits, and win the war for your money?
Let’s get down to business.
1. Own Up to Your Mistakes (or Find Thanos)
As much as it sucks, swallow your pride and accept responsibility for the blunders and setbacks that got you here.
And I get it, sometimes things aren’t your fault, but that won’t snap your financial problems out of existence.
(If only Thanos was a financial advisor)
It’s only when you take 100% ownership of your mistakes, can you get the ball rolling and affect change.
2. Does Budgeting Give You Anxiety? Try This Instead
Conventional wisdom says you need a budget, especially if you’ve got money problems.
And that conventional wisdom is probably right.
But for some people, budgets are just another thing that rattles their anxiety.
What’s more, not everyone has time to record, track, and analyze expenses – you know, the typical “budget stuff”.
Heck between work and kids, some of us have about 7 minutes of freedom every day (and that 7 minutes is reserved for crying in the bathroom, thank you very much).
So what’s the alternative to budgeting?
It’s simple, and it’s something you’ve heard before: Pay yourself first.
Here’s how it works in lieu of a budget:
- Find out how much you need to be saving every month, and then set that money aside first thing after getting paid.
- After that, who cares where the rest of your money goes?
Even if you only have $100 to spare after expenses and debt repayment, save that money first.
I know it sounds lazy, but if you’re the type of person that finds sticking to a budget more overwhelming than rewarding, this is a sensible, effective alternative.
3. Be a Scrooge (And Don’t Even Feel Bad About it)
Say what you want about Scrooge, but the man knew how to stretch a buck.
Sure, he was a bit of a tightwad, and not the greatest role model, but every now and then you have to be a cheapskate.
Now let’s be clear: being a complete cheapskate isn’t a long-term solution.
(Frugal living is a much more sustainable lifestyle choice).
But right now, all you care about is finding turbo-charged ways to fix your money problems as fast as possible.
Hence: be a cheapskate.
Because being cheap is quick and easy.
When you’re cheap, you don’t worry about any of the politics or emotion that comes with balancing spending versus living.
The only thing you care about is: how cheap is it?
And the cheaper the better.
So be a Scrooge, and pinch those pennies until you get a handle on your finances, no one will hold it against you.
4. Talk With Someone Who Cares (Even if You Have to Pay Them)
If finance intimidates you, talk with a professional.
A Financial Planner, a Debt Specialist, or even an Accountant are all solid choices when seeking practical financial guidance.
But a word of caution:
Beware when using a credit counselling agency.
Some of these organizations are legitimate…
…And others crawled out from the 10th layer of hell (the secret one where they keep the crooked lawyers and shady salespeople)
Do your research and find a trustworthy organization.
Preferably one that’s in good standing with a Sate/Provincial or National association.
Watch out for BS claims like:
- Quickly and easily fix your credit score
- Reducing your debt to a fraction of what it was
As a rule of thumb:
If what they’re offering you sounds too good to be true, it probably is.
Despite all this, if you find a legitimate, Satan-free company, you’ll get a big boost of confidence knowing someone’s looking out for you.
5. Ask Your Boss This Scary Question
Most people squiggle and squirm at the very thought of asking their boss:
“Can I have a raise?”
Don’t get me wrong, my heart skipped a few beats just writing about it.
But asking for a raise is a super-fast way to pad your bank account.
And let’s not kid ourselves here:
When you’re struggling financially, making more money is written in big, bold letters at the top of your to do list.
So, how do you do this?
Timing is everything – Have you done something amazing like save a big account and everyone treats you like the office hero?
This is when you ask for a raise: when you’re in the spotlight and your confidence is sky-high.
So grab your boss’ ear and state your case while you’re still employee-of-the-month.
Prove you’re a winner – Every time you’ve done exemplary work, or demonstrated growth at your job, make a note of it.
And when it’s time to ask for a raise, bust out this list and let your reliability speak for itself.
You’d be surprised how much leverage being a competent worker will grant you.
6. Don’t Give Up Your Vacation
You might not be able to go to Costa Rica or Disney World, but a solid staycation is just what the doctor ordered.
Don’t think just because you’re struggling financially you don’t deserve a bit of time off.
Kicking back, relaxing and clearing your mind does wonders for your mental health and helps put things in perspective.
In fact some of your greatest revelations might come to you when you’re mid-way through a bag of Doritos while binge watching The Office for the zillionth time.
Don’t ask me how, I don’t question magic.
Just trust in the Doritos.
7. Have “The Talk” (And I Don’t Mean The Birds & The Bees)
No one likes talking to their significant other about money problems.
It’s uncomfortable, awkward, and might even end in a big ‘ol fight.
But it’s worth it.
So put all your cards on the table and get on the same page.
Remember that your financial problems are their financial problems too, and the only way you’ll forge ahead is with honesty and transparency.
Sure, it’ll suck at first, even if you’re both good communicators.
But just like the bird and the bees, with a bit of practice, you’ll feel like you can do it anywhere at any time.
8. Don’t Take On New Debt (And Pay Off What You Have)
It’s so easy to rack up debt these days.
I mean, credit card companies are chomping at the bit to lend you money and there’s always some shady loan shark out there ready to lend you money at a criminally high interest rate.
In fact, debt might be the reason why you have money problems in the first place.
So, how do you handle debt?
There’s a few different options:
Consolidate or Refinance – This is where all your debt gets lumped together either at the behest of a credit councillor or by refinancing using a low-interest personal loan. Either way, the end result is paying one lender instead of multiple.
Debt Snowball – Pay off your lowest balance first and then move onto your next lowest balance. It might seem contrarian to go after the little stuff first, but seeing something paid off is hella motivating.
Debt Avalanche – Pay off your high-interest debt first and then move onto the next highest-interest debt. It might take longer to pay off individual debts, but you’ll save more money in the long run.
The important part about paying off debt is not to incur more debt, especially as you’re paying it off. If you have to lock up your credit cards or swear a blood oath to Warren Buffett, do it.
9. Can You Stomach a Side Hustle?
People preach side hustles like they’re a religion.
And with good reason:
If not having enough cash is the villainous force behind your money problems, starting a side hustle might be the financial Avenger that saves you.
But there’s a big difference between having a rich idea and turning it into Stark Industries.
So before you even think about slapping up an open for business sign, ask yourself these key questions:
Can I set and meet deadlines?
Deadlines are the root of all progress. And a big part of entrepreneurship is meeting deadlines, whether it’s for yourself, clients, or customers.
How fast can I get this off the ground?
Time and overthinking are the enemy of any side hustle. If you’re taking months to launch a simple business, you might lose momentum and quit before a single sale is made.
How’s my googling?
No one is going to spoon-feed you answers. So if you don’t know something, you better be comfortable with searching for it.
I will fail. Am I cool with that?
No one thinks they’ll fail, but almost everyone does. You see, failure isn’t an end, it’s just an obstacle that leads to better ideas – it’s a cruel but effective process.
The bottom line: Unless you’re mentally-ready for a side hustle, don’t add another thing to your plate.
10. Don’t Be Ambitious With Your Goals
Struggling financially is an overwhelming position to be in – there’s stress, guilt, anger, and even fear.
Go easy on yourself.
You might think you need to be a hero and accomplish amazing feats of financial redemption in a record-breaking time.
So, you devise a strategy so detailed and complex, you feel like 5-star general.
But a complicated plan, one that attacks everything all at once, splits your attention in different directions, and is a plan destined to fail.
You are one person – a person with limitations. Remember that.
Keep your goals simple – play the tortoise, not the hare, and take a slow, steady, and controlled approach to your finances.
Having Money Problems Isn’t a Death Sentence – You Can do This!
I’ve given you 10 extended tips to try when you’ve got money problems.
But I’m not going to lie:
Nursing your financial health isn’t easy.
At times you may feel defeated, lost, and worthless, but stick with it, because at some point things come together.
There’ll be a day when you look at your situation and start to see the most power motivator on earth:
And when that day comes, every ounce of defeat, loss, and worthlessness over your finances is overpowered by wins, gains, and courage.
You got this.