The debilitating feeling of checking your bank balance after an expensive couple of months is like no other. Your heart begins to race and you’re beginning to form tiny beads of sweat on your forehead. You don’t want to get into a cycle of being in bad debt again, as it seems there is no way out. Being a busy mom can often mean you neglect your finances; with supplies to buy and baby classes to pay for, you just want to provide for your family. You don’t want to be one of those people who are constantly worrying about cash. Although it may be true that money makes the world go round, you don’t want to be subject to a money-driven lifestyle. You want to be able to live a comfortable and happy life without feeling cheated out of your hard-earned dollars. The truth is that you can get yourself back on track, you just need to take control.
Close The Door On Debt
If you’ve dug yourself into a big black hole and can’t seem to find a way out, there are people out there who can help you. If your bills have stacked up and you’re not sure how much you owe any more you could consider using a credit card debt consolidation loan calculator. This will allow you to measure what your monthly payments would be if you were to consolidate and combine all of your debt into one lump amount. This is a service which many people choose, as it allows you to banish your debt little by little, without overwhelming you or putting you out of pocket. Try and be honest with yourself when it comes to clearing up your debt. Don’t push it to the back of your mind anymore. The first step to financial freedom is taking action on your previous mistakes, so don’t be ashamed to own up to what you have built up. You’re strong already for wanting to tackle this head on.
Preparation Is Power
Ask yourself why you got into debt in the first place. Perhaps you were caught out by an unexpectedly large tax bill or you spent too much over the holidays. If you can pinpoint when everything started spiralling downhill, you will be able to prevent it from happening again in the future. Try and plan ahead if you have expensive events coming up and start saving well in advance. Set yourself a clear budget for each activity and event you may have to pay for. Consider drawing out physical cash rather than making card payments. You will be able to see with your own eyes what money you have to spend, so you don’t go overboard. Start a diary or get a useful app on your phone which will help you to plan your money for the future. If you’re in a position to save a little bit of money each month then this will help you hugely to be prepared for upcoming expenses.
You can get out of this slump, no matter what position you’re in. Seek the expert advice you need and listen to people who are being honest with you. Most importantly, be honest with yourself so that you can finally get back on track and be content with your money again.