Face it: money is definitely one of the most important things in the world. And because it is important, it’s just imperative that it should be used well and must be taken care of—unless you want to go broke and end up living in misery.
Well, with the economic status of the Philippines these days, saving money and making practical budget could sometimes be a problem. But, it doesn’t mean that your financial troubles can no longer be solved. Here are some financial problems and simple solutions that can be done.
1. Overspending
The Solution: Control yourself and cut back on your expenses.
Sometimes, when you have all this money on hand, you feel like it’s endless and that you can spend it all right away, and you just buy whatever you see in the mall.
Well, you can control your expenses by making a list of what exactly you need to buy and by going where you know you can buy these things instead of going to each and every shop in the mall. This way, you won’t be tempted to pick up and buy the very first thing you see.
2. High Bills
The Solution: Review your bills and see why they’re that high.
The problem with most people is that they don’t try to understand the root of the problem. So, the electric bills have reached an all-time high. Why don’t you ask yourself and your family why?
Maybe, you have the electric fans and the air-conditioners on the whole day, or none of you turns off the television even when no one is watching. Or, maybe the water bill is high because some of you spend 1 to 2 hours in the bathroom. Realizing what you’re doing will help you see how much you really have been spending—and will help you decide that you need not only save money, you need to save water and electricity, as well.
3. Debt
The Solution: Take care of the necessities first.
Sometimes, debts happen because people think that they don’t have enough money and that they need more just so they could buy whatever it is that they want to buy, but the thing is that you can actually make use of what you have with you instead of resorting to other people for financial help.
Credit Cards are also big sources of temptations—and debt. The thing is, when you have a credit card, you tend to buy more than you should. But just imagine, without that credit card, you’d know exactly how much you have with you and how much you could spend—so you wouldn’t have to pay for anything else later.
If you have debts, make sure that you address them rather than escape from them. Paying little by little is so much better than not paying at all.
4. Source of income is not enough
The Solution: Try online jobs.
And finally, if you feel like your income is not enough or your husband’s income can no longer fit the family’s needs, remember that it’s okay to take online jobs. These days, so many opportunities are available online. You can work as a copywriter, a translator, or an ESL teacher, among others, while in the comfort of your own home. Taking other jobs would definitely get you on the road to financial freedom.
Remember, for every problem, there is a solution. You can work through your financial problems—this guide is the perfect start. Good Luck!
Author Bio: eCompareMo is the country’s leading and complete comparison portal intended for Filipinos looking for quick, secure, and complete banking and insurance products in the Philippines. We streamline the comparison and application products to help Filipinos make informed decisions when it comes to their finances. Like us on facebook or follow us on twitter to get more financial tips.
