Simplifying your life is a great way to simplify your finances.
Whether you’re struggling with managing your time, simplifying your home, or finally finding the perfect craft, there are tons of ways you can simplify not just your life but also how you spend and manage money.
Here are some ways to make sure that you’re on top of things when it comes to taking control of your finances.
#1. Stop living paycheck to paycheck
The first step to getting your finances in order is to stop living paycheck to paycheck.
It’s easier said than done, but it’s a good place to start.
If you cannot afford any more debt and have no savings, this might just be the time to get that side hustle that has been sitting on the back burner.
#2. Stop using credit cards
If you’re struggling to pay your bills and keep up with your expenses, then it’s time to ditch credit cards.
If you find yourself overspending on credit cards or just not getting your money’s worth, then it might be time for a change.
Credit cards are convenient, but they don’t always provide the best value for your money.
You’ll save yourself the headache of going into debt by ditching them altogether.
#3. Eliminate unnecessary expenses
You might think that you need a certain amount of money to live.
But if you’re struggling to get by, it might be time to cut some expenses. It can be hard to know what expenses are necessary and which ones are extra.
If you’ve been spending more than you’re earning, and it’s affecting your quality of life, it might be time for a budget checkup.
Some people find that simplifying their lives can lead them to increase income.
For example, if you don’t have cable anymore, you might find yourself watching more online videos since the content is free.
Or maybe when you cook from scratch instead of relying on already made meals, the savings can be huge at the end of the month.
#4. Look for ways to make more money or earn more
If you’re looking for ways to simplify your finances, finding ways to make more money is a great way to do that.
If you’re in a position where you can work from home, look into starting a side hustle.
There are tons of side jobs available online and on the ground like babysitting, dog walking, and tutoring.
To start your own business, there are many options available such as becoming an Uber driver or selling crafts online.
If you need help finding new ways to bring in some extra cash or earn more money, consider getting professional advice from a financial advisor such as Certified Financial Planner (CFP) or Certified Public Accountant (CPA).
#5. Create a budget and stick to it
One of the best ways to simplify your finances is by creating a budget that you can stick to.
The budget will help you determine how much money you need and where it should go, making it easier for you to spend and save.
What are some other benefits of budgets?
They’re easy to track, keep you on track with your goals, give you a sense of accomplishment when sticking to them, and even help you find ways to cut back expenses.
To create a budget, start by writing down all of the different areas in your life that require money (like work, school, food) and then adding up the total monthly costs.
#6. Find time management hacks
The most important thing you can do to simplify your life is find a way to manage your time.
That’s where the time management hacks come in.
Here are some tips on how to more effectively manage your time:
- Find a way to get rid of distractions in your home. Whether it’s setting up an “off” switch on electronics or turning off the TV, there are lots of ways you can make sure that you don’t waste hours of your day scrolling through social media feeds or watching YouTube videos.
- If you’re not getting enough sleep, there are plenty of ways you can combat that. Find out what sets of habits contribute to poor sleep quality and set yourself up for success at night.
- Don’t let taking care of yourself fall by the wayside; make sure that every activity you do during the day is self-care related so that it doesn’t feel like work. For example, take a walk after dinner. It’ll be easier for you to plan for things when you’re not depleted from mental and physical stressors associated with work and other responsibilities.
In the hectic world of work, personal life, and everything in between, it can be difficult to find a balance.
By following these tips to simplify your life and take control of your finances, you can take back control over your health, happiness, and finances.