Sometimes it can feel like even a vault jam packed with money, riches and cheques wouldn’t be sufficient to cover the cost of life. Just as we reach a point of financial stability, all of a sudden turn against us and throw up all manners of expenses. The car needs repairing, your laptop goes into self-destruct mode and gas prices rise all in the same week. But don’t give up all hope just yet. Below are some ways in which you can be ready for all these nasty surprises and even work in that massage you’ve needed since the nineties.
Make a Flexible Priorities List
Stress and feeling helpless come hand in hand. Therefore, you must focus on what you can control. One way to do this is by ordering your most important expenses. Work out your bills, set aside a weekly food and gas/ other travel budget. Then have leeway for any unexpected bumps in the road such as home repairs or mechanical emergencies. Once you have those necessities sorted, you can see what you have left for the month.
Explore All Avenues of Financial Aid
This is particularly essential if you have kids. Parents, of course, want the very best for their children and one of the most expensive ventures in their upbringing is higher education. As they go off to college, it is crucial that you look into all the financial support on offer. For example, graduate private student loans can massively help to alleviate the pressure and show your kids how to understand money management for themselves.
Organize Your Savings
We all have general savings accounts but within them we can make subcategories. For instance, for holidays and travel or home renovations. Not only does it help with organization, it also increases the incentive to save. If you have that dream trip as a motivator, you’re much more likely to put more into your savings. Furthermore, it gives your savings a purpose so you’re less likely to take it out, spend it on silly things and then feel guilty. Knowing that money will lead to an incredible new kitchen is a much better end point than buying rubbish you don’t need.
A New Prospective on ‘Money Can’t Buy Happiness’
As much as there is a real power behind this popular aphorism, we must read it realistically. To deny ourselves of the comfort we need is not any kind of real happiness no matter the friends and family that surround us. We need money to live, that is the truest of all things in our modern, capitalist society. Ignoring this fact will lead to further stress. However, if we are smart about what we see in this phrase we will be able to manage our financial woes a lot better. It is all about accepting what we have. If you are comfortable and happy, with the necessities and living to your means then it is time to reach acceptance. Perhaps you can’t quite yet afford that Lamborghini, designer handbag or even more than one night out a week. Look to what you do have and if you want more, work for it but without wearing yourself down. Learn to be content in financial stability and simply how to enjoy your lot.