If you spent a little more than you planned this summer, don’t worry. It’s not too late to get your budget back on track. Check out some of the steps you can take to get control back over your finances.
START FRESH
For the most part, there’s nothing you can do to change your past spending. From this point forward, try to focus on your future financial decisions as opposed to your past slip-ups. You’ve realized that you need to make a change and that’s a great place to start.
ORGANIZE SAVINGS
Did you know that at Cyprus, you can create targeted accounts within your main account for your expenses? You can then distribute money for specific costs, such as a mortgage, rent, car payment, etc. Each paycheck, allot money to each of those accounts to pay the bills. That way, you can see exactly how much money you have left over after everything has been accounted for. For more information on how to do this, stop by a branch.
MAKE CUTS
Yes, that Starbucks coffee makes your morning a little easier, but do you really need it? Cuts such as cable TV, Netflix, eating out, driving an older car etc. can help save money over time and get your finances back on track. Making these small sacrifices now will be extremely beneficial to your future. Just keep reminding yourself that this situation is only temporary. You’ll be back to binge watching your favorite shows in no time.
EXTRA CASH
Start by looking around the house for things you can sell. You can also look for side jobs such as mowing lawns, babysitting, taking surveys, and more. There are also places, like Etsy, where people can sell handmade or vintage items to people all over the world. If you have a talent or hobby you’re passionate about, see if there’s a way you can share it with the world and make a little cash.
EMERGENCY FUND
Once you get the majority of your finances straightened out, make sure you start an emergency fund. This will help you prevent falling into any other financial problems in case an unexpected finances. Just remember, this money is not be touched unless there is a true emergency.
