7 Money Management Tips For Anybody Feeling Trapped In Life
If you are feeling financially trapped in life, here are 7 money management tips to get in a better situation.
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Money has this amazing power to trap people in life and make them feel hopeless. However, regardless of how hopeless your situation feels, I believe if you set your mind to something, you can achieve it. In this video, I share 7 money management tips for anybody feeling financially trapped in life.
1. Deprive Yourself Until You Have Some Stability
The truth about many people's situation is that the only way they can get in a better financial situation is if they spend a year or two depriving themselves and solely focus on getting in a better situation. Deprivation, however, should not be viewed as a bad thing but as tool to speed up the process to get in a better situation. If you spend 1 to 2 years going full force to get in a better financial situation, you can spend the rest of your life not held down by money.
2. Hustle Hard Until You Have Some Stability
Another truth is that if you want to get in a better financial situation, you will also have to spend 1 to 2 years hustling hard to make more money to get in a better financial situation. Just like depriving yourself, hustling should not be viewed as a bad thing, but as a tool to speed up the process. If you hustle to get in a better situation, you can spend the rest of your life not held down by money.
3. Know That These Extreme Changes Are Just Temporary
Many people choose not to make decisions that lower their quality of life because they view it as permanent changes; however, these extreme changes you make are just temporary. It is important to know that when you choose to make drastic changes to get in a better financial situation, that eventually you can go back to enjoying the things you enjoy without the financial burdens attached.
4. Sit Down And Make A Plan
Many people who are in a bad financial situation choose to not create a plan because they feel as if they are hopeless and it is a waste of time; however, it is impossible to get in a better situation unless you create a plan. When you create a plan you have a guide on how you are going to get in a better financial situation. Don't let your bad situation be an excuse for not taking action.
5. If Your Plan Isn’t Working, Examine Your Plan
Some people create financial plans and when their plan isn't working, they just continue on thinking that it'll eventually get change; however, if your plan isn't working, you should sit down and examine exactly why that is. In the video below, I explain exactly how to do that.
Budgeting For Beginners: Budgeting For Beginners | How To Crea...
6. Only Focus On The Things You Can Control
When it comes to personal finances, many people default as a victim and focus on all the things that are out of the control; however, doing that is a complete waste of time. It is important to focus on the things you can control like how much money you're spending, how much money you're making, and how you can get in a better situation. That is a much more productive strategy.
7. Hope Dies Last
No matter how bad your situation is, it is important to never lose hope. As long as you live with hope in life, you will eventually reach your goal and get to a better place, so never give up!
**Links above are affiliate links where if you click and order, I will receive a commission at no cost to you. **
If you would like to support my channel!: https://www.buymeacoffee.com/williamsauQ
Mint Mobile (save on your cell phone): https://mint-mobile.58dp.net/rn6rJQ
Books I'm Reading
The Dawn of Everything: https://amzn.to/3DZiaeI
Who Moved My Cheese: https://amzn.to/3E0TNgF
Outlier: The Story of Success: https://amzn.to/44gJxvF
Money has this amazing power to trap people in life and make them feel hopeless. However, regardless of how hopeless your situation feels, I believe if you set your mind to something, you can achieve it. In this video, I share 7 money management tips for anybody feeling financially trapped in life.
1. Deprive Yourself Until You Have Some Stability
The truth about many people's situation is that the only way they can get in a better financial situation is if they spend a year or two depriving themselves and solely focus on getting in a better situation. Deprivation, however, should not be viewed as a bad thing but as tool to speed up the process to get in a better situation. If you spend 1 to 2 years going full force to get in a better financial situation, you can spend the rest of your life not held down by money.
2. Hustle Hard Until You Have Some Stability
Another truth is that if you want to get in a better financial situation, you will also have to spend 1 to 2 years hustling hard to make more money to get in a better financial situation. Just like depriving yourself, hustling should not be viewed as a bad thing, but as a tool to speed up the process. If you hustle to get in a better situation, you can spend the rest of your life not held down by money.
3. Know That These Extreme Changes Are Just Temporary
Many people choose not to make decisions that lower their quality of life because they view it as permanent changes; however, these extreme changes you make are just temporary. It is important to know that when you choose to make drastic changes to get in a better financial situation, that eventually you can go back to enjoying the things you enjoy without the financial burdens attached.
4. Sit Down And Make A Plan
Many people who are in a bad financial situation choose to not create a plan because they feel as if they are hopeless and it is a waste of time; however, it is impossible to get in a better situation unless you create a plan. When you create a plan you have a guide on how you are going to get in a better financial situation. Don't let your bad situation be an excuse for not taking action.
5. If Your Plan Isn’t Working, Examine Your Plan
Some people create financial plans and when their plan isn't working, they just continue on thinking that it'll eventually get change; however, if your plan isn't working, you should sit down and examine exactly why that is. In the video below, I explain exactly how to do that.
Budgeting For Beginners: Budgeting For Beginners | How To Crea...
6. Only Focus On The Things You Can Control
When it comes to personal finances, many people default as a victim and focus on all the things that are out of the control; however, doing that is a complete waste of time. It is important to focus on the things you can control like how much money you're spending, how much money you're making, and how you can get in a better situation. That is a much more productive strategy.
7. Hope Dies Last
No matter how bad your situation is, it is important to never lose hope. As long as you live with hope in life, you will eventually reach your goal and get to a better place, so never give up!
**Links above are affiliate links where if you click and order, I will receive a commission at no cost to you. **
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