Dec 17th, 2012 by Jennifer Lynn
Enter below to win $100.00 Cash through Paypal or Amazon gift card (winner’s choice) !!
Have you gone buck wild with your finances and now you are broke and dwelling in the poor house with threadbare pockets? Financial responsibility begins with you. Now is the time to stop making excuses and derailing your financial progress. Here is how to steer your paltry finances back on track to begin paving the way to riches and financial prosperity, proactively.
Aim for financial stability. Practice these simple adages that warrant repeating because they are so important, such as: spend less than you earn and save up an emergency fund, etc. Yes, it really is that simple. You will never get to the good stuff of wealth accumulation until these first two steps are conquered and you can place yourself on firmer financial ground to plant fertile seeds of prosperity.
Negotiate debt repayments. Debt is like quicksand gobbling up any type of financial progress unless your debt is providing passive income streams (such as a mortgage on an income property). If your debts are sucking the life out of your wallet, you’re sinking down a slippery deep hole of stagnation. Contact each of your debtors and try to re-negotiate a payment plan that will allow a bit more flexibility and financial wiggle room and, as a sign of good faith, be sure to stay on top of each payment and contact debtors immediately if you know you may be late on a payment. Show a willingness to responsibly work through the situation with your debtors and then focus on aggressively vanquishing each of your debt beasts.
Stop spending strictly for today. By utilizing credit today, you are using your future earnings and future life energy to deprive yourself of tomorrow. Doesn’t make much sense, does it? Instead stay out of the vicious debt trap by saving first for the items and experiences you crave. If you don’t have the money, don’t buy it!
Step away from a mindless consumerism mentality through more conscious spending. Be aware of each purchase and only buy what you truly love. Try to adopt a more minimalist lifestyle and eradicate all of the useless clutter in your life.
To celebrate this concept of not having enough money and how to avoid financial destitution, Broke-Ass Mommy is teaming with other personal finance blogs to help sponsor the ‘Not Enough Money at the End of the Month’ giveaway, with a prize of $100 Cash through Paypal or Amazon gift card (winner’s choice).
Here is how you may enter for your chance to win:
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