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Financial Problems: How to Get “Unstuck”

Financial problems and how to fix them
  • Blog
  • Jill
  • No Comments
  • September 24, 2020

Financial Problems: How to Get “Unstuck”

Facing financial problems can make you feel stuck.  It may seem overwhelming with no way out.  There are ways to get control of your finances, though.  Here are some things to try when you need financial help.

Stop and think

The first step in solving any problem is identifying it.  If you don’t like where your finances are, you need to change your situation.  You have to be willing to assess the issue, though.  What is causing your financial problems?  Why do you think you are in financial trouble?  It may have to do with debt, mortgage payments, credit cards, student loans, spending, or something else.  Once you figure out what exactly is wrong, it will be easier to move forward.

Budget

One surefire way to get a handle on your finances is to create a budget and stick to it.  The key is including everything you are going to spend money on.  Be realistic with how much things cost and set boundaries for yourself.  Once every cent you make has a planned place to go, all you have to do is put it there.  This is easier said than done, of course.  It is best to have an emergency fund for facing financial problems.  That way if you suddenly need to pay for a car repair or a doctor’s visit, you won’t be thrown totally off budget.

Your budget doesn’t just have to include paying bills and buying groceries, either.  Want to put aside a portion of every paycheck to savings?  Write it into your budget.  Trying to get out of credit card debt?  Budget in those payments as well.  Make the plan work for you and your specific situation.

Change things up

People get stuck doing the same things over and over, then wonder why they have financial problems.  The key to fixing your finances is understanding your habits.  Do you shop online when you’re bored?  Do you buy too many fancy coffee drinks?  Be honest with yourself about your habits so you can change them.  Breaking a habit is hard, so think outside the box with this.  Anything that works for you is valid.  Many people find that using cash for everything helps them spend less.  You could decide you have to text a friend before making any purchase over a certain amount.  Use whatever tools are available to you for financial help.

Don’t go at it alone

Worrying about finances is stressful enough.  Trying to fix them by yourself is a nightmare.  Talk to someone about your situation, whether it be a friend, family member, or financial advisor.  Putting your thoughts into words can help you sort through them.  You can also have someone else keep you accountable to sticking to your budget or savings goal.

Keep going

Getting all your finances in order is hard work.  It may take a long time, but don’t get discouraged.  It takes perseverance to deal with financial problems.  To keep yourself motivated, set short-term goals along with your long-term ones.  This can be something as simple as sticking to your budget for an entire weekend or putting a quarter of a paycheck into savings.  Every step you take to fix your finances brings you that much closer to not having to worry about money anymore.

Facing huge financial problems?

If you are deeply in debt and don’t know what to do, you might consider filing for bankruptcy.  This could either cancel your debt or redistribute it so you are able to pay it off.  Bartifay Law can help you figure out if bankruptcy is right for you.  Call (412) 824-4011 to schedule a free consultation. 

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