Tales of Woe: Financial Situations
Impulsive Buying: We All Do It!
Stacking the Bills...
How many business are currently tagging your phone line, about bills you currently have due? How often do they call you, in hopes you can at least make some effort to start paying? Have you gotten to the point were you feel that enough is enough? Have no fear, we can still optimize around this! But with how often they call or mail you, how can anyone feel release in this buildup of pressurized stress?
To verify, we already know what they're calling for: You owe them money. Let's not fret about the AMOUNT in each bill, for each location, however. They're basically out there, searching for ANY payment--Even if their letters or their voices don't reveal it.
With that in mind, we can work out a compromise with these companies. When the process of a fixed debt comes into play, we can sort out the extras from the important assets we hold, and gain a self-confident feeling of control and independence. "Shop around" your debt locations and find out what they feel would be a "decent payment" to them. Don't agree with their choices, by the way, you're still trying to figure out what you can do. Once you have that total, mark it down and tell them that you will get back to them, as soon as you finish your own math. Your goal is to determine what YOU can afford in your payments, as well as what you can afford, to continue making your own living.
Too Many Unknown Numbers....
We have all experienced those unknown and unwanted numbers. When we become victim to irritatingly expecting a call from these numbers at least once a day, we find ourselves discouraged from answering any calls.
I hate to break it to you, but these numbers will not stop calling you until you at least find out who they are, what they want, and whether or not that these calls are worth your time. You'd be surprised if you were avoiding a call for donations, when those calls could easily have moved your number to their "do not call" list. Wait, all calls are not in that category, though. If you're expecting calls from collection agencies, you have no choice but to overcome their pursuits.
It's time to think about those bills that you've been locking behind closed doors. Cleaning out the cobwebs is a good start. Make a list of what places you owe debt to, how much debt you owe each place, and rate their "level of necessities."
We've all been here, as well. We go to the store, expecting to buy only what we need. On the way to collecting what you need, something catches your eye. You want to buy it.
Impulsive buying is a common act. We never need to order delivery, buy something we enjoy collecting, or get something for yourself to drink, while heading back home, but we just do. Limiting this can also be rather difficult for those who feel that their wants are leaned more towards their needs.
Before you do your shopping, make a list of what you need to pay in your month's debts. Do the math and determine how much you take home in that month, while excluding taxes on average. Your best bet is to round up to the nearest dollar, whenever you have any amount of cents in totals. It's always better to estimate your minimal amount with an extra dollar or two, than to fall short by that same amount. Once you have your estimated amount in debts, you will then know how much you can safely place in your pockets.
Acting Out: Budget Practice
Let's play a game. We're going to place ourselves in a scenario and place a quiz on whether or not we can afford the item in each question.
We have a young, single person, living in a home for rent at $450 a month. His job pays him $9.00 an hour, for an average 40 hours a week. With a 20% tax deduction, he takes home $288.00 a week.
What Is My Budget?view quiz statistics
Time is Money....
Keep in mind, you shouldn't take too much heart in your results in this quiz. This quiz was merely an "organizational experiment" I have built, to aid in identifying your debts and gains. Each individual will have their own debts that they will need to list, in order for them to determine their levels of importance.
Every item you purchase for recreational purposes, however, NEED to be added in, as well. Most fail in debts when they realize they have spent too much on things that they enjoy. When creating your list, keep in mind of the recreations you are involved in as well, such as:
- Collectible hobbies (trading card games/video games, etc)
- Those once-a-week delivery orders
- Also includes any small purchases, such as daily coffee before work, drinks to buy while grocery shopping, and small toys for kids, if they behave in the store, while you shop...
If you learn to properly limit yourself to a certain amount of money for even those small items, you will find yourself expecting less "rainy day" events and more savings for yourself, even if it could total only about $20 in your wallet, at the end of each week.
Keep In Mind:
Money comes and goes. How we choose to SPEND our money determines what we have left at the end of each month.
Next Entry: When Illness Strikes
Dealing With the Impact of Death and Illness