5 Ways to Improve Your Finances - Tipsy Heelz

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5 Ways to Improve Your Finances

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Make a budget 

If you're interested in improving your finances, it means that they are probably not under control. If you assess your current income and spending, it may be the equivalent of a leaky boat with money pouring out of unexpected holes. You need to plug them up and run a tighter ship. 


Making a budget is the best way to plug the holes and improve your finances overall. 

Pigly can help. Look at your account over three months and calculate your income and spending. Use a Google Sheets page to organize everything and decide where you can make savings. Things like subscriptions are good to cancel. 


Pay off your debt 

It's not possible to get a handle on your finances until you get control of your debt. Debt can prevent you from saving and cost you money in the short and long term without you even noticing. Don't worry, though; there are some effective ways to help you pay it back. 


Firstly, gather together all your creditors and look at the minimum payments you are making for each. Start with the highest one or the one with most interest. Concentrate your efforts on paying that back first while still making minimum payments on the rest. Pay off your debt in this way and start saving. 


Earn a little extra 

We could all use a little extra cash to help us pay off debts or contribute to our savings or emergency funds. The trouble is it can be hard to find opportunities and time to work any more hours in the day. So how is it possible? 


The answer is to use portions of your days off and bits of time here and there to work on monetized passion projects. Blogs, affiliate programs, online selling, or small enterprise ideas are excellent for a little extra income. If it's a passion project, it won't even feel like work. 


Control Your Spending 

You would be surprised by how much stronger your finances would be if you significantly reduce your spending. Think about how much those Starbucks coffee have added up to over the past year - it might be enough for a weekend vacation. Of course, money is for spending but do it wisely. 


It's so easy to spend money online. The Internet is full of clever marketing strategies to get you to push the buy button. But online is the same as offline when it comes to spending habits. Always ask yourself if you need something or just want. This is an important difference. Allow yourself to buy something you want every once in a while. 


Make Savings 

Easier said than done, right? Actually, it's easier than you might think. You can start making savings today by merely changing the way you think about your spending. If you buy three Starbucks coffees per week, for instance, why not cut that down to one and save the difference. You can make an exciting coffee at home instead. 


Some very good savings apps also exist that will help track your spending and put money away automatically. Open up a separate savings account for this money to go into. By adapting your lifestyle in this way, you will notice savings building up without too much effort. 


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