One of the most common complaints that most people have is that they’re struggling with their finances. After all, we live in a world where the things that you can do with your time are pretty much always dictated by your income. Even things like spending time with your family will come down to whether you can afford not to be at work. Because of this, a lot of people find themselves in financial difficulty that it can be pretty tough to get out of. However, there’s one thing that a lot of people fail to pay attention to, even with they’re really struggling with their finances: it might be your fault. As much as many people would love to say that money trouble was something that just happens to them, the truth is that the little decisions that you make every single day can have a huge impact on your over overall financial circumstances. With that in mind, here are a few reasons why you might be to blame for your own money troubles.
You have more space than you need
Most people tend to work under the assumption that the more space you have in your home, the better. After all, if you have a lot of space, then you’re never going to end up feeling cramped or running out a room for all of your stuff. However, a large home can often be a curse rather than a blessing. For one thing, the rent or mortgage payments that you have to make can be pretty significant in a large house and trying to furnish a large house can be pretty expensive. If you’re not really sure how to downsize your home then don’t worry, there are plenty of resources online that you can use as well as plenty of information out there that can make the whole process a lot easier. You may well realise that you don’t actually need nearly as much space as you thought you did.
You’re using too much energy
Another way in which your home can be the root of your money troubles might be the amount of energy that you’re using. This is an especially significant problem in the winter since you’ll probably want to keep your home pretty warm. However, if you spend all day with the heating on full blast, you’re almost certainly going to end up paying way more on your energy bills than you need to. If you want to save money on your heating, only use it when it’s absolutely necessary and invest in some woolly socks and a cosy blanket instead. The same goes for your electrical goods. Getting into the habit of turning things off you’re not using them might not seem all that significant but it can have a huge impact on your energy bills.
You can’t control your spending
The reality that a lot of people really don’t want to have to face up to is that the reason that they don’t have the kind of money that they really want is that they are simply spending too much. Even people who assume that they’re pretty frugal with their spending can fall into this trap. You might assume that because you avoid making big purchases as much as possible, that you have your spending under control. However, the reality is that it’s the little purchases that really make the difference. A lifestyle where you are constantly doing little bits of spending here and there can add up incredibly quickly and before you know it you’ve spent far more money than you actually have.
You’re not using your time productively
The modern era is one where more and more people are working freelance jobs instead of traditional ones because of the freedom that it so often brings. However, if you’re not using your time properly as a freelancer, even if it’s just as a side hustle along with your job, then you’re never going to be earning as much as you otherwise could. Using your time productively allows you to increase your earnings pretty significantly while still letting you hold onto your free time.
The reality is that one of the most common reasons that people get into genuine financial difficulty is that they ignore these kinds of things a lot of the time. This is because the idea of your financial slipping out of your control can be incredibly scary. However, no matter how anxious it might make you, it’s always better to face up to your finances and push yourself to make the smart decisions in eliminating debt rather than trying to hide your head in the sand.
Disclosure: collaborative post.