Business Web Sites
Daily BulletinHoliday Centre

Money

Liquidity Lifestyle - 5 Lifestyle Changes That Will Keep You Out of Financial Trouble

  • Written by News Company


Providing a sound financial future for your family can seem like a game of Monopoly. Just as you think you’re getting ahead, you experience a financial setback that has you tightening your belt. Too frequently it can sometimes feel like an endless battle for economic freedom. However, while the road is bumpy and seemingly endless, these five lifestyle changes below can keep your financial woes to a minimum and help you achieve financial independence:

 

Borrow Wisely

If you find yourself short until payday, or an emergency situation has arisen, don’t choose the first loan provider you see. Look for a safe alternative to payday loans that won’t have you locked into in endless repayments, hidden fees, high interest and strict repayment criteria. It’s all too seductive to choose what appears to be easy, fast money. However, the reality is that not all loan providers have your best interests at heart. Choose one that does.

 

Know Your Money

Does your family know what money is coming in, and how much of it is going out? If you’re not in charge of your bank balance, it’s easy to get into strife. Know what’s coming in, what’s going out, and where you can cut costs.

For example, 20% of Americans dine out at least once per week. If you fall into this category, you could be saving your family thousands of dollars by staying in and sparing the restaurant tabs for special occasions. Having your finger well and truly on the pulse of your finances allows you to know where you can cut spending for the sake of your bottom line.


Spend Less Than You Earn

It seems like a given – only spend as much as you have – but as close to 40 percent of American households have credit card debt, it’s clear to see some families are pulling the plastic out a little too frequently. Understanding your monthly budget and bank balance gives you a guideline of the maximum you have to spend and put you in a better position to ensure that there is a little left over when each month comes to an end to gradually build up savings that can serve as a financial buffer.

 

Get a Second Job

If you can’t seem to help your family stay out of financial trouble, it might be time to get a second job. While you certainly don’t want to stretch yourself too thin, the digital age has opened a plethora of opportunities to earn extra cash from home, in your spare time. Over 7.6 million workers juggle multiple roles, so it’s not uncommon to wear two hats for the sake of your family’s financial future.

 

Look at Your Food Budget

Food is growing more expensive by the year, often faster than the overall inflation rate. Therefore, it’s crucial to always be on the lookout for ways in which to cut that grocery bill back. You can do this by making a meal planner to ensure you buy nothing unnecessary and choose low-cost, filling food items your family will love. Look for new recipes that give a fresh take to staples like pasta and rice, or try your hand at baking rather than buying pre-made bakery goods? There are plenty of smart ways you can save your family money.

While tightening the purse strings might seem like a great sacrifice for the sake of your family’s financial freedom, it pays dividends over time. Work to reduce your debt, choose your loan providers wisely, and before long; you’ll find the future is already looking brighter.

 

 


The Conversation

Politics

Prime Minister - Step up in drought budget support

Drought-hit farmers, small businesses and rural towns are set for an immediate cash injection to keep stock fed and watered, keep businesses open, keep locals in work and pump funds into local eco...

Scott Morrison - avatar Scott Morrison

David Littleproud MP interview with Tom Connell

Interview with Tom Connell – Sky News NewsDay   The Coalition’s latest drought support package   TOM CONNELL: David Littleproud, thanks for your time. We've got this drought package going throug...

Tom Connell - avatar Tom Connell

Prime Minister Address Tom Hughes Oration Dinner

Thank you very much, Julian, for that very kind introduction.  It was very generous. Thank you very much for those words.  It's great to be here with you.  I'm here today to give the vote of thank...

Scott Morrison - avatar Scott Morrison

Business News

Acciona And Surfing Australia Partnership

Acciona Ambassador and 2020 World Surf League (WSL) Women’s World Tour rookie Isabella Nichols with Bede Noonan, Managing Director of Acciona Geotech at today's launch. CASUARINA/NSW (N...

Blainey Woodham - avatar Blainey Woodham

What is identity verification and why your business should start using it

As time goes by, new technologies and practices always find a way into the world of business. The ones that prove valuable are first adopted by the forward-thinking businesses until they finally b...

Diana Smith - avatar Diana Smith

How to protect your business with the help of National Police Check

Hiring for organizations is not an easy task. Every recruiter wants to employ reliable, honest, skilled people who are a good fit for their office culture. In short, hiring someone who will help the...

KONCHECK - avatar KONCHECK

Travel

Style in Summer: A Guide to Visiting Melbourne, Australia This Holiday Season

Summer is one of the most exciting months in the city of Melbourne, with dozens of activities sprouting up all over the place and endless activities for everyone to engage in. If you are someone w...

News Company - avatar News Company

Once in a lifetime things to do in Beijing

The capital of China is an absolutely incredible city where there is lots of see and do. Let's take a look at some truly once in a lifetime things that you can experience in the location. 1 - Cli...

News Company - avatar News Company

Enjoy a short break in Perth this summer

With summer just around the corner, now is the perfect time to book a short break in Perth, a city fast becoming a hub for the arts, shopping and culinary delights as well as the unique natural scen...

Sarah Peattie - avatar Sarah Peattie

ShowPo