How to Change Financial Habits If You're Constantly Short of Money

Finance is a difficult topic, but it is very relevant, since it affects every person in one form or another.

But what if you have a job, you don’t slack off and don’t overspend, but you still constantly don’t have enough money?

Perhaps it’s all about your habits that you don’t even notice – psychologist Ksenia Matur will tell you about them.

The first thing you need to do is to realize that you have a need to solve the problem of lack of money.

Look at this situation as an adult and make a decision: change your habits. Only a person in an adult position can somehow influence their finances. Remember that you are an adult and only your actions determine how much money you will have, take control of the financial sphere.

To manage your finances, you need to manage them. Keep track of your income and expenses, no matter how unpleasant it may be. Most of those who have financial deficits do not do this.

Start analyzing your income and expenses, and you will see how much money comes in and where your money goes. This may be unpleasant at first, but it is vital.

After reviewing your income and expenses for several months, see how you can increase your cash flow and what expenses you can cut. This will help you free up cash.

Try not to take new loans and microloans. Or better yet, try to pay off your current debts faster. Free yourself from the debt burden. Review your payment, take steps to reduce it.

Increase your financial efficiency. Calculate the cost of an hour of your work, evaluate the possibilities to increase the amount of income, find new ways to earn money.

Perhaps approach your boss and ask for a raise, move to a higher-paying job, or consider earning extra money or monetizing a hobby.

Unfortunately, inflation is rising and prices for everything are increasing, so our task is to control our expenses and increase our income.

Be more thoughtful about your purchases, try not to make spontaneous and impulsive purchases, plan them in advance. Make a plan for expenses and purchases, plan large purchases in advance.

Develop a habit of planning your purchases, then you will not find yourself in a situation where, for example, your car breaks down and you have no money to fix it, and this causes great anxiety.

Go to the store with a shopping list, then you are more likely not to spend a lot of money. Go to the grocery store full, then you will not buy a lot of food, following your hunger.

Get into the habit of creating a safety cushion; set aside at least 5-10 percent of every amount you receive.

Do not think that this is a small amount and it is insignificant, small amounts will add up to a significant capital. In force majeure situations, you will have a safety cushion and this will give you strength and self-confidence.