What To Do When You Can’t Manage Your Money

We know that so many of you reading this will be able to relate to the fact that managing money is hard. If you can’t, then we’re not sure why you’re reading this. Because living life as a millenial, or in fact any generation, has never been harder. Jobs are harder to find and harder to acquire. If you want a job, you have to jump through every educational hoops to get it. Even then you’ll most likely have to start at the bottom on minimal pay and then work your way up. So managing our money is hard because more is sparse as it is. There are a few rare gems in society that are really good with their money. Every friendship group has one, and the rest suffers the same fate that the majority of the world does. So, we’re going to show you a few tips on what to do when you can’t manage your money. Hopefully this will give you some inspiring tips on how your finances can prosper now the New Year is here.

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App Money Management 

In a strange way, managing money has never been easier, just as it has never been harder. There are so many different tools at our disposal, allowing money management to be more simple than it has before. But there’s the ever growing financial strain that makes using the apps hard, because you don’t actually have the money. But these apps are designed for people with all sorts in their bank account. They’re set out to show you what you’re spending it and where, and give you a budget in certain areas. So for example, it might split your wage into bills, food shop, fuel, and luxuries. You then set a budget for each of these areas, totalling to your ultimate budget. It’s so handy to just get alerts to your phone when you’re overspending, or close to using your budget.

Big Financial Concerns

Sometimes the pressure of managing your money can lead to big financial concerns. There’s a difference between money management, and not having any money at all to pay the bills. This commonly happens when people rush to move out and end up in rented homes they can’t afford. It can then lead to evictions, which is one of the most awful financial situations to be in. How eviction management works is explained perfectly through that link. It might be that you’re already in one of the stages, but you have the chance to pull it back. In times like this, we’d always recommend visiting an estate agents. They’re experts in financial situations like this, and can give you avenues of support.

Essential Financial Support

Speaking of support, sometimes it’s essential. Financial support can be anything from reaching out to family, to going to talk to financial advisors. Speaking about the true extent of a personal financial struggle is something people rarely do. So, don’t be afraid to speak out about some of the problems that you might be having just because it’s personal. The trouble could be gone in weeks with the right support around you.

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