At one point or another, most people have found themselves out of work. Whether it’s because the company that you work for has folded, you’ve lost your job or are on sick leave, being out of work can have a huge impact on your financial health. Whatever the reason that you are out of work, having a small amount of money to live on and no guaranteed monthly income is a daunting and stressful prospect. Luckily for you, we are here to help make the process of living without an income as easy and free of stress as possible. Below are a few handy hacks that should make navigating the financial struggles that come with being out of work easier.

Set a strict budget (and stick to it)

The first, and most important, rule of living when you are out of work is setting a strict budget and sticking to it. The fact is that it’s possible to live on a tiny amount each month, it’s just a case of learning how to be savvy with your funds and not overspend, which is a habit that many of us have got stuck in – spending money when we don’t need to. There are various budgeting apps that can help you to set a budget and ensure it’s stuck to by linking up your bank account to your budgeting list. These apps really are invaluable when it comes to living within your means.

Find alternative solutions for cash flow

Budgeting will help to make living on a small amount easier, but it won’t solve the problem altogether. The fact is that you can’t get by without a livable income, so if you aren’t earning from work, you need to find a way to supplement your income so that you have an alternative cash flow coming in. This could be by doing some freelance work, it could be by taking out a loan from Snappypaydayloans.com, or it could mean selling a few of your old and unwanted items. The fact is that when times are tight, it’s important to ensure that you have an income stream so that you are able to keep on top of your rent/mortgage payments, your bills, and afford food. That is why finding an alternative cash flow solution is so important.

Research what you’re entitled to

Another option, when it comes to making life easier when times are tight, is to research what help you are entitled to. There is always help available from local authorities; it’s just a case of determining what help you are entitled to. If you are on sick leave, you may also be entitled to pay from your place of work, depending on your role, the time you have been there, and what your contract says. Don’t struggle on without looking at the help that is available, take the time to research what you are entitled to and apply for it. There is no shame in taking help when you are struggling, so it’s worth taking the time to research what you are entitled to.

It’s not easy navigating the financial struggles that come with being out of work, but if you take note of the tips above, you can make the process a little easier and a little less stressful for yourself.

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So, you’ve just graduated from college and have moved into your very first apartment. Now what?

Well, now it’s time you wised up to your financial situation and got into an adult mindset when you start thinking about your money situation. This can help you put in place some good financial foundations that can help you set up a secure future for yourself. So, ready to grow up and get adult about your financial situation? Here are some things you need to start to do.

Start Saving

Now that you are out of college and into full-time work, it is important that you try and save as much as you possibly can from your monthly paycheck. It doesn’t matter if you are only able to save a small amount; after all, every little will help and it will certainly add up after a few years! It is important that you have some savings behind you as they can provide you with a security blanket should you ever run into any financial difficulties. If you take a look at https://thesimpledollar.com/best-savings-account/, you can see which accounts are the best ones for your money.

Ditch The Debt

As well as saving up some cash, you also need to try and pay off all of your student loans. If you are struggling to manage all your debt right now, you might want to take a look at the tips on https://studentloansconsolidation.co to see how you can consolidate your debt to make one easier monthly payment. It’s also worth setting up a direct payment from your monthly paycheck. That way, you can never forget about paying back your loan.

Budget Well

Now that you are an adult in the big wide world, you will have a lot more responsibilities than what you did at college. Make sure you don’t forget about looking after your finances, though, or else they won’t look after you! The best way to do this is to budget. You just need to enter all of your monthly incomings and outgoings into an Excel spreadsheet to see how much money you have left over at the end of each month. This can help your finances stay extremely organized, and you are a lot less likely to be overdrawn one month!

Plan For Retirement

Have you figured out how you will be financially stable during retirement yet? If not, why not?! You don’t have any excuse of not thinking about retirement, even if you are still only very young. In fact, there is more reason for you to think about saving for retirement now as you will have longer to save and make a bigger nest egg. Firstly, you should take out a pension so you have some savings that are specifically for retirement. If possible, set up a separate savings account as well.

Once you adapt to this adult mindset, you will find that your finances get a much needed boost. Good luck with your financial future!

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Saving money seems easy enough on paper; you just put aside a certain chunk of your monthly income and don’t touch it until or unless there’s a special occasion for it.

The only problem is that theory and reality aren’t always the same thing, and there are many subconscious lifestyle habits and attitudes that can sabotage our money-saving efforts.

Here are a few questions to help you get a better sense of perspective on your spending, and to improve your saving habits.

What are my real financial goals?

The first question to answer is “what are my real financial goals?” It’s easy to get side-tracked when you have no clear idea of what you’re actually putting your savings aside for. When you’ve got a lump-sum of money in a savings account, or a handy chunk of capital at hand via a company such as https://smallbusinessloans.co/, it’s easy to feel artificially wealthy and become complacent about your financial goals.

Without a clear purpose attached to your savings, however, any vaguely interesting investment opportunity can suddenly seem like a fair reason to dip into them.

If, on the other hand, you know that you’ve got a specific amount of money set aside for a specific purpose – buying a new car, for example – you’ll not only know to leave that money alone until it’s time to go car shopping, but you’ll be more motivated to regularly add to your savings. After all, you’ll be excited by the prospect of getting in your new ride.

Is there a cheaper way I could get this done?

There are certain expenses which we need to accept during the course of day-to-day life. Some of these will be personal, such as an internet connection, or clothes and grocery shopping. Others will be professional – such as web hosting, budgeting software, or transport fees for the commute in to work.

But while these expenses generally can’t be avoided – that doesn’t mean they can’t be reduced. Take a mental inventory of everything that you regularly spend money on, and ask yourself whether there’s a cheaper way you can achieve the same benefit.

Perhaps you could cut your internet bill in half with a rival service provider.

Am I conscious of what’s actually happens to my money?

Often, if we’re not used to budgeting meticulously, we’ll end up “bleeding” money in different ways, without even being conscious of it. This can happen, for example, if you regularly grab a coffee on the way to work, or eat out on a regular basis.

What may seem like a small expense here and there can rapidly add up and become a real source of undiagnosed financial strain.

It’s worth looking at your bank statements and making a note of just how much money you really do spend on “invisible” costs like cups of coffee. When you’ve identified an area where you’re spending far more than you’d like to be, you can work on sealing-up the “leaks”.

Is any of my spending purely habit driven?

Habit is a powerful thing, and spending can often be triggered by subconscious manipulation. That’s one of the great secrets of the advertising industry, after all.

If you’re the kind of person who’s prone to frequent impulse-buying and suspect purchases, ask yourself; how many of these purchases are really improving my quality of life, and how many are just empty spending, inspired by a shopping habit?

Ultimately, if you’re spending substantial amounts of money without any real benefit over time, you should work on re-programming that habit loop.

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Throughout life, there will be loads of points where you have to make decisions about your money. During these times, it will be important that you make calculation moves, choosing the right options at every junction. Thankfully, this isn’t as bad as it sounds. Instead, you have plenty of support, and a lot of it can come from posts just like this one. In fact, this will be going through some of the different moves you can make with your money for the best possible financial future. In a lot of cases, people don’t consider this sort of work. But, it can make a real difference and isn’t too hard to accomplish.

To start, a lot of people begin this process after realizing that they need to make a change in their financial life. It doesn’t matter what your issue, though, as there’s usually a way to solve it. With loans, for example, a lot of people find themselves borrowing too much from a lot of places. Making this easier is just a matter of consolidation, and a company like creditrepairreview.co can help you to find the right people to support you. Most money problems can be solved with a similar approach.

Once you’ve had a bit of time to save, it’s a good idea to think about investments. Most people have a limited amount of time. The time you do have is usually spent working or consuming entertainment. If you want to reach your full financial potential, though, you need to make more money than just your salary. To achieve this, an investment enables you make money without having to put time and effort in. Just make you have at least three months worth of savings before you start thinking about it.

It can feel a little bit wrong to think about the time after you pass, as most people would rather focus on the time they have around. Of course, though, to make sure your family are able to make the best of your departure, most people like the idea of setting up a legacy. A great way to ensure your loved ones get a good amount of money when you pass, life insurance is a great option. It’s best to start with something like this early, though. Otherwise, you’ll have to pay a lot for each installment.

Finally, it’s time to think about the life goals you have for yourself. In most cases, people want to own a house by the time they retire, and you’ll probably want to get the ball rolling on it long before that. A mortgage can take anywhere up to fifty years to pay off. So, it’s important to consider this area while you’re still young. To get started, you just need a reliable job and a little bit of money saved for a deposit.

This post should give you a good dose of inspiration and drive you to start making some changes with your money. A lot of people leave these areas too late and aren’t able to make the most of them. So, instead, it’s much better to get started as early as you can.

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The standard way that we’re all meant to want to live is in a house. A house that preferably has a garden, nice friendly neighbors, and even a white picket fence. That’s meant to be the ideal.

However, the need for space to be utilized as well as possible has meant that apartments are a common feature throughout the country. While they might not be the house that you always dreamed of, they do have a few upsides — despite general opinion running to the contrary.

So if you’re in the process of deciding you want to learn more about an apartment you’re considering, then you’ll definitely want to factor in the potential for money-saving. You need to consider areas such as…

Fewer Security Measures To Be Concerned With

While living in an apartment doesn’t necessarily mean you can leave your front door unlocked like they did in the old days, there’s no doubt you will have fewer security issues to contend with. There is inherent security in the entrance points to your home being at height, while collective security measures for the front entrance and lobby give a shared responsibility for ensuring the building is as safe as possible.

The fewer security measures you have to put in place, the more your saving — but this aspect is particularly beneficial if you’re renting. All the existing security equipment and measures will be maintained by the landlord, meaning your security spend could conceivably be zero.

No Garden To Drain Money From Your Finances

Gardening is an expensive hobby. From the cost of plants to the sheer amount of time you have to give over to maintaining it, if you’re looking for cost-cutting measures, then ridding yourself of a garden is hugely beneficial. As well as gardening itself, you don’t have to worry about the security of the garden or the upkeep of buildings and furniture you use in the garden itself. Combine all of those savings together and they begin to look very substantial.

While you might fret over the lack of outdoor space, you still have the option of public parks if you want to spend time outside. Parks give you the opportunity to enjoy being outdoors and — most importantly — they’re free! Enjoy your time outdoors and leave the expensive maintenance to someone else.

Lower Heating Bills

It’s a little known fact but definitely a reality: apartments are cheaper to heat than houses (though you’ll want to avoid the top floor to maximize this benefit). When you live in an apartment block, the other apartments effectively operate as extra insulation. During the winter, you will immediately feel a difference; apartments are warmer, and you need to use less fuel to keep yourself feeling snug and cosy. If you’re tired of paying a fortune just to keep warm through the colder months, then this could be a real money-saver for you.

So, do you think you could be tempted to move from a house into an apartment — potentially saving yourself a bundle of cash along the way?

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