Select Simple Steps to Fix Finances Fast

Select Simple Steps to Fix Finances Fast from North Carolina Lifestyle Blogger Adventures of Frugal Mom

When your finances are a mess, it’s tempting to believe that your situation is hopeless, but this is an illusion. In fact, there’s plenty you can do to fix your finances, simple things that make a big difference. 

Let’s talk about two common financial problems people experience: high debt and insufficient income. Although these two issues seem formidable, there are practical solutions. 

The Debt Solution 

Debt has a way of sneaking up on you. When you’re swiping your credit card through a terminal at a store, it feels as if you’re using your own money. When you’re signing a loan document at a lender’s office, you feel optimistic about paying it back quickly. Although you’re borrowing money, you, paradoxically, feel abundant, as if you’re getting it free.   

Unfortunately, the price of this borrowed money is interest, often high interest, and the longer you take to pay off the money you borrowed, the more interest you pay.  This a hard fact, but bad credit borrowers pay higher interest rates regardless of the amount of money loaned.

Even if you get a zero percent APR in a credit card promotion, this plan could hurt you in the future if you don’t pay off your balance completely before the promotion comes to an end. 

If you are in debt, you won’t make much progress simply paying off each bill one at a time unless you can pay the full balance if you fall behind, the interest increases. And if you fall too far behind, then the interest compounds. The solution to ending debt is to talk to financial experts at a firm like Strategic Consulting. These experienced debt consultants will help you find the best debt relief option.  

The Income Solution 

When you have a regular job that doesn’t pay well, or at least as well as you would like, you might feel stuck. Even if you quit and found another job, you would earn a similar amount since your income is based on market rates for your skills. 

While going back to school to increase your skill sets would be a good long-term solution, it’s not always guaranteed to work. It can also be tricky to figure out your ideal career path. There are other things to consider, too, such as money and time. Where will you get the money to pay the tuition? When will you find the time to both study and work? 

Still, there is a simple solution: freelance your marketable skills.

Your freelancing skills may be the same skills you use at work. For instance, if you work in a marketing department, you could advise your freelancing clients on how to improve their marketing.

Your freelancing skills could also be different professional skills. For instance, if you work as a grocery store clerk, you could create a freelance job as a writer perhaps, because you’ve been working on a memoir as a hobby and learned an impressive amount about grammar and syntax to write articles for blogs.

Start a freelance business by choosing a niche, deciding on your service offer, and defining your ideal client. After those basic steps, create a portfolio website, decide on your pricing, use internet marketing methods to get clients, and gradually build up your credibility. 

Incidentally, when setting up your home office, get a fast Internet connection to get your work done quickly and efficiently. It’s possible to get great Internet speed on a budget. Poor Internet quality and speed will make it difficult to deliver your work on schedule.  

Seek Simple Solutions 

When you’re facing complex financial problems, it might seem counterintuitive to seek a simple solution. The reason these principle works is that a simple solution is understandable and actionable. If you know what to do, then you are more likely to do it. 

Asking for expert advice solves a complex problem like debt because debt consultants can offer you a debt repayment process to follow. Similarly, earning enough to pay your bills is a complex problem, but creating a freelance business around your talents is easier than starting an elaborate online business.

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