expense

18
Feb
2022
Warning Signs That You are Living Beyond your Means

Warning Signs That You are Living Beyond your Means

Reading Time: 5 minutes

To live beyond your means simply means that you are spending more than what you can afford. Statistics show that most people are living from paycheck to paycheck without any kind of financial cushion. This was quite evident on the effect of the recent lockdowns on people’s financial lives. While we all deserve to spend our hard earned income; spending beyond our earnings, not saving enough for emergencies and racking up debt in the process are all recipes for financial disaster. To prevent this from happening, you need to watch out for some warning signs that you are living beyond your means. Even if you were doing fine before the pandemic, you might still need to reassess your finances to check if your current income can still support your previous lifestyle.

It is quite easy to fall prey in this age of consumerism. A wide range of consumer goods are available everywhere in the malls, supermarkets, social media and online stores. With heavy promotion by the media coupled with the support of the banking system through their generous credit to consumers; living beyond your means is so easy to do these days.

The FOMO (fear of missing out) and YOLO (you only live once) mentalities brought about by social media only made matters worse. These mentalities have become the new norm that they have dictated the spending habits of many. While it gives you satisfaction in the present, it gives disservice to your future well-being.

Warning Signs That You Are Living Beyond Your Means

Before it is too late, here are some key indicators that you are living beyond your means. They will serve as warning signs that it is time to scale back on your spending immediately.

1. More than 30% of your Income Goes to your House

Housing is the largest expense of most households. Most people dream of a big nice house thinking that they are buying an asset. However, most people don’t realize that their  primary home is no longer considered an asset but rather a liability.

Unless you have a way of lowering your monthly expenses on other parts of your budget, you will find yourself in the poverty cycle if you are spending more than 30% of your income on your house. The allure of a bigger and better house will become a financial problem.

Now, calculate what percentage of your monthly income goes to your housing expenses. Housing expenses include your monthly amortization, real estate property taxes, association dues, house insurance, maintenance costs and utilities. If the amount exceeds more than 30% of your monthly income, you will be much better off finding a less lavish home that will fit your budget.

2. More than 15% of your Income Goes to your Car

If you can purchase your car for personal use in cash, then there is no problem. Problem arises when you borrow money in your auto loan purchase.

Have you heard of the 20/4/10 Rule on Auto Loan?  The 20/4/10 Rule keeps your finances in check when it comes to purchasing a car. The rule says if you are going to buy a car, you need to make at least a 20% downpayment. In addition, the terms of payment should not exceed 4 years and that your monthly amortization should not exceed 10% of your monthly earnings. If you cannot follow these rule, it simply means you are buying a car that you cannot afford.

  • Minimum 20% downpayment
  • Maximum 4 years term
  • Monthly payment should not be greater than 10% of income

If you add up all other transportation expenses like fuel, maintenance costs, insurance and your monthly amortization; the total should not exceed more than 15% of your income. If your monthly transportation expense goes beyond that, you are simply living beyond your means.

3. Overdue Notices Fill Up your Mailbox

If you have been receiving late payment, overdue and disconnection notices, or worse you find your utilities constantly disconnected; then that’s clear sign that you are living way above your means. Your monthly budget should include payments for bills and utilities. If you can’t pay for them then it is time to reevaluate which ones are necessities and which ones you are better off without like cable subscription for example.

4. You Borrow Money from Others

If you find yourself borrowing money from friends and relatives or take out personal loans to pay your bills then that is a clear sign that you cannot afford your current lifestyle.  Ideally, your income should be enough to cover your day-to-day expenses.

5. You Constantly Worry About Money

You are constantly worried about money, even with small expenses to the point that it is already keeping you awake at night. Your health is already affected. You even get into strenuous discussions and arguments with your spouse.

It is normal to worry about your finances every now and then but if you are constantly experiencing these things on a daily basis. Then, it is so obvious that you have money problems.

6. You have No Savings / Emergency Fund 

You have no savings or emergency fund. Even if you have it before the pandemic, you have already used it all up. There is no money left from your current income to set aside for future savings.

Savings are needed for future use.  An emergency fund is for unexpected and unfortunate events like a pandemic, unemployment, illness, disability or simply for car repair purposes. Ideally, your family should have enough money saved to cover at least six months worth of your living expenses.

7. You have Rising Credit Card Balances

If you are one of those people who only pays the minimum amount due on your credit card balance every month, then that’s a sign that you are living beyond your means.

Ideally, you should only charge what you can pay off at the end of each billing cycle. Unfortunately, many people have severe problems with credit card usage. If you don’t pay the total amount due on or before your due date, your outstanding balance will charge additional interest rates and fees, and these are carried over every month causing your debt to balloon month after month.

8. You Never Set A Budget

If you are ask questions about your budget like how much do you spend on food each month and you have no idea what the answer is, then you have a problem. A written budget is one of the first and most important steps towards financial freedom. How will you know if you are living within your means if you have no idea where your money is going? Having financial goals and sticking to your budgeting plan can prevent money leaks and help you live within your means. 

 9. You Run Out of Money Before your Next Paycheck

Do you find yourself short of cash long before the next payday?  If you do, then that is another sure indicator that you need to downgrade your lifestyle.  Your paycheck should be enough to cover your expenses for the period.

10. You Shop / Vacation on Credit

Credit is good when used wisely. It is very convenient because you don’t need to pay in cash for the total cost of an item or service right away. It is fine to avail of zero percent installment offers just as long as you are sure that there are no hidden charges. The rule of thumb is that your payment terms should not exceed the total life span of the item that you are buying.

It is a whole different thing for trip purchases. Yes, you can go on that well-deserved vacation only if you have saved enough for it. Make a plan to save money for that dream vacation.

You can use your credit card for protection. Like for example, some credit card offers free travel insurance if you book using their card. All other vacation expenses should be paid in cash. You can also use your credit card during vacation but for emergency purposes only. If you are one of those people who loves taking vacation all on credit, then you are living beyond your means.

If you score at least four and above, then take it as a warning sign that you are living beyond your means. You have two options, either you increase your income or downgrade your lifestyle.  But whatever your choice is, it is best that you start learning financial literacy now to avoid finding yourself in the same situation later on.

Edited Version. First Published in Pinoy Smart Living on 10.30.2018

Photo by Artem Beliaikin from Pexels

Posted by A.L. Jonas in Financial, 0 comments
16
Dec
2020
Avoid Overspending This Holiday Season

Avoid Overspending This Holiday Season

Reading Time: 2 minutes

It’s the Christmas season once again. Christmas is a big cultural and religious event as Christians all over the world celebrate the birth of Jesus. It is about celebrating love and joy with families, friends and loved ones. But, it has also become a huge commercial phenomenon as people spend so much money on gifts, parties and new things. Although Christmas celebrations and parties may be different this year compared to the previous years because of the new normal, it is still easy to fall prey to consumerism. To avoid starting the new year with piles of debt, here are a few tips on how to avoid overspending this holiday season.

1. Set up a Christmas budget and stick to it.

First of all, you should have created a plan even before the Christmas season even began. Plan on how much you can afford to spend on gifts, food, events, travel, decorations, clothing, etc. Once you have it, by all means stick to it. Don’t be tempted to buy a more expensive gift for your loved one just because it’s Christmas. If it is way above your budget, it simply means you cannot afford it.

2. Track your spending.

The easiest way to make sure you are spending within your budget is to track your expenses. Write down everything you are spending on a daily basis. Just record all the items you have spent and compare them to your budget. Do this on a daily basis. It will take some time and effort on your part but it will serve as a reminder to help you stay on track.

3. Be creative with your gift giving.

You don’t need to spend a fortune for your gifts. Be creative. There are so many Christmas gift ideas for less. You can give them something handmade or cook for them. It is kind of cliche but it’s the thought that counts. What is important is that you remember them during this holiday season.

4. Look for Deals.

Most stores over holidays deals this Christmas season. Buy these items because they are normally offered on discounted rates.

5. Pay cash.

Never ever use your credit card if you think you won’t be able to pay the full amount due in January. Instead, always pay cash so as to not get carried away with your purchases. Don’t be a victim of paying more than your actual purchase by paying fees and interests in your credit card.

6. Don’t overspend on yourself.

Once you are done with your Christmas shopping, go home. Don’t expose yourself to temptation by lingering in the store. The displays are there to lure you into buying them. By going home, you are preventing yourself from buying unnecessary things.

7. Entertain for less.

If you plan on hosting a Christmas party, skip those costly dinner parties by telling your guests to do potluck. Don’t put the burden of preparing for all the food yourself. And besides, until this pandemic is over; it is still not advisable to hold gatherings most especially if it is done indoors.

8. Get better deals after Christmas.

If you can postpone giving yourself or even other people a gift after Christmas, then by all means do so. Stores normally start selling items on discounts the day after Christmas because they need to clear their inventory for new ones for the coming year. By shopping after the holidays, you will get larger discounts for the items that you want.

First Published in Pinoy Smart Living on 12.04.2018

Feature Image by StockSnap from Pixabay

Posted by A.L. Jonas in Financial, 0 comments
09
Sep
2020
Coping with Financial Stress

Coping with Financial Stress

Reading Time: 3 minutes

Are you overwhelmed with financial worries? Don’t dwell in that negative emotion. Instead, take a deep breath and apply these guidelines on coping with financial stress. When you follow these guidelines, you should feel less stressed and have a better perspective on how to deal with your financial situation.

1. Talk Things Through

Talk to the family about your financial worries. This is an opportunity to air out all your worries and brainstorm solutions. If you live alone, talk to a friend to get some advise or at least to receive emotional support.

Putting your worries out in the open can help you ease the mental and emotional burden. The emotional support you get from your family members and friends can also help you gain more confidence in facing your circumstances and changing it. More importantly, you gain a different perspective about the situation which will help you gain more clarity in coping with your financial stress.

2. Track Your Finances

Now that you have gained some different perspectives from other people regarding your financial worries, the next step is to crunch some numbers. Take pen and paper and take inventory of your finances.

Keep track of all your spending. Write down your basic expenses and identify what expenses you can eliminate. Try to track your daily spending as well so you can better identify your spending patterns and triggers. This way, you are more aware of how to avoid your temptations so you eliminate impulse spending.

List all your debts. From the biggest to the smallest, try to identify everyone that owe money to and how much. This should strengthen your motivation to keep your spending to the basic minimum as you are coping with financial stress.

Identify your sources of income. Now that you have a clearer perspective of your spending habits and what you truly need to spend on, it’s time to count what money you will actually have. List your sources of income and how much you earn from each. If some do not have a fixed amount, then write down your minimum expected amount. Finally, add up everything and compare your total income with your total basic expenses.

3. Plan Your Budget

Whether your income is bigger than your spending total or the other way around, setting financial goals is important. You need to make a plan for where your money will go so you can start changing your situation.

Make a budget based on your basic living expenses. Use the money jar budget system as a guide but customize the names and amounts according to your requirements. Food in your budget is one of the easiest item to lessen spending on. Make sure you stick to your budget so you can get closer to your goal of being in a better place financially.

Increase your income. Your next plan is to identify opportunities on how you can raise your income. Maybe you can increase your earnings from a current source of income or maybe you have another skill or talent from which you can earn additional income.

Keep monitoring your finances. Don’t let your planning go to waste by forgetting it some days. Be consistent in tracking your spending and making sure that you stay within budget. At the same time, work hard to increase your income and keep adjusting your budget as your income increases. Don’t increase your spending and prioritize savings and paying off debts first.

4. Stay Positive

Finally, keep a positive attitude as you make small progress daily. As long as you are consistent in making small changes, you will definitely achieve your long-term goal of getting to a place where you are financially comfortable.

To help you cope with your finances better, try to improve your financial literacy. Understanding how money works in business will also help you tweak your own personal financial strategies and goals. Read books that inspire you to take care of your finances better and to keep working on your dreams.

In the meantime, don’t beat yourself up if you make mistakes. Just do the right thing the next day. Try to do fun things that don’t cost much or cost none at all so you can keep up the positive vibes.

Feature Image: Original Photo by Pixabay from Pexels.

Posted by H.J. Rangas in Financial, 0 comments
04
Aug
2020
Track Your Expenses

Track Your Expenses

Reading Time: 2 minutes

Did you know that tracking your daily expenses will help you save a lot of money?  Knowing where your money is going is the only way for you to take control of your finances. So to improve your financial life, you need to track your expenses.

You are not buying anything lavish.  You don’t eat at upscale restaurants.  You don’t have the latest gadgets. You don’t even drive a fancy car.  But don’t you ever wonder why your money is still not enough?

Launch Challenge

Get a notebook and write down all the things that you will be spending for the next 30 days.  You need to write down all your cash expenses, even small purchases like candies, tips and sticks of cigarettes.  There are several apps available online that you can download for free to make your tracking easier.

At the end of 30 days, summarise your expenses under two major categories: Fixed and Discretionary Expenses.

  • Fixed Expenses – essentials or living expenses such as food, transportation, housing, education, bills and utilities and debt payments.
  • Discretionary Expenses – non-essentials that vary each month as entertainment, travel, restaurants, vices and other miscellaneous expenses.

Once you are finished categorizing them, you will then have an idea on your spending pattern.  You will also have a brief overview on what percentage of your income goes to unnecessary expenses.

Then use this data, to create your monthly budget.  If your spending is more than your earning, you need to experiment and see what items you can reduce or cut down totally from your budget.  Remember, your monthly income minus expenses should always be greater than or equal to zero. The money jar budgeting system is a good budgeting guide to use.

So, what are you waiting for? Begin to track your expenses now!

Updated Version. First Published in Pinoy Smart Living on 08.21.2018

Feature Image by Michal Jarmoluk from Pixabay Images.

Posted by A.L. Jonas in Financial, 0 comments
18
Mar
2020
How To Improve your Finances During a Crisis

How To Improve your Finances During a Crisis

Reading Time: 2 minutes

The current crisis has not only negatively affected the people’s health and wellbeing, it has also affected the world economy. Many industries are now falling. Companies, factories and stores are closing. People are losing their job. Unless this crisis will end soon, many people might find themselves with money worries in the near future. Although income might stop coming, household expenses will not. Debt and mortgages are piling up. Thus, it is important for everyone to how how to improve your finances especially during a crisis.

Here are some things that you can do right now on how to improve your finances during a crisis:

1.Review your budget

Take a good look at your monthly budget. If you don’t have any budgeting plan, now is the perfect time to start having one. The money jar budgeting system is a good way to start creating your survival budget in this tough time. If you are already having a rough time, then you need a budget more than ever. A budget will help you track down where your money is going. It will also help you plan on your future spending.

2.Cut Expenses Immediately

Take advantage of the times. Refrain from going out unless necessary. Focus on the basics. Nutrition and health should be the main concern of everyone. Do not buy non-essential items. Stop eating out. Your main goal right now is to cut down on expenses. You don’t know how long this crisis will last so it is important to have as much emergency money as possible.

3.Talk to Creditors

It is almost impossible to keep up with bills if you are being quarantined especially if you have no savings. The best approach is to talk to your creditors and explain your situation. Ask about your options.  The good news is that since you are not alone in this crisis, many governments already issued indefinite moratorium for those affected. Banks and insurance companies have started implementing assistance programs. Utility companies are following suit by waiving fees and postponing disconnections. 

4.Look for Other Sources of Income

If your income has already been affected, now is the time to look for other sources of income to boost your cash flows. There are many ways to earn even from the comfort of your home. Search online. Look for something that you are good at.You can be someone’s virtual assistant. You can do online tutoring.You can start creating your own blog or vlog. You can create webinars. The possibilities are endless.

5.Improve your Financial IQ

If you are worried about your finances during this pandemic, that is an indicator that there is a need for you to improve your financial IQ. To be financially literate means having the ability to manage personal finance matters. That includes having an emergency survival fund in times of crisis. 
It is not yet too late to start now. Take advantage of your time at home. Read about personal finance on books, magazine and the internet. Listen to podcast. Study the lives of millionaires and other highly successful people. Educate yourself and apply it in your life. Start by setting financial goals.

6.Don’t Panic

If you are already an investor; Warren Buffet, the most successful investor in the world, advised investors not to panic. It is best to stay invested and look at the long-term outlook of the stock market. Although it is only natural for investors to be fearful, it is never a good idea to buy stocks based on headlines. 

Be fearful when others are greedy. Be greedy when others are fearful. – Warren Buffet

Feature Image by Posted by A.L. Jonas in Financial, 0 comments

11
Mar
2020
The Money Jar Budgeting System

The Money Jar Budgeting System

Reading Time: 6 minutes

Do you want to grow your wealth? Then, the money jar budgeting system is for you. It is a system that helps you control your spending habits yet at the same time lets you grow your future wealth.

Most people dream of winning the lottery. However, did you know that according to several studies, 70% of lottery winners ended up broke within 5 years of winning? Similar studies also showed that the higher the amount of winnings, the higher the probability of getting bankrupt. 

Most lottery winners found themselves in even worse financial situation than before they became rich. So, where did it all go wrong? Lottery winners used the money they won to finance a bigger lifestyle. In short, they start to level up and increase their standards of living. They start to squander on depreciating assets such as luxury cars and extravagant vacations. They also start giving away so much money. This phenomenon is what you call a lifestyle creep.

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People who started receiving a large amount of money has the tendency to squander on extravagant lifestyle and depreciating assets like luxury cars.
Image Credit: LIFESTYLE CREEP

A lifestyle creep is a financial phenomenon wherein people suddenly find themselves with excess income and they are not prepared for it. They have no idea how to handle the excess money that they have. Suddenly, life seems more exciting and expensive. What used to be luxuries became necessities. Their spending increases as they begin to eat at fancy restaurants, own the latest gadgets, drive a brand new car and take more expensive vacations. The new spending habits then slowly develops into a lifestyle. It is creepy because the negative spending habits develop gradually and it is undetectable unless it is already a huge problem.  

Lifestyle creep is highly contagious. You can easily be influenced by the people around you, heightened by social media brought about by FOMO or fear of missing out. 

Unfortunately, it is experienced not just by lottery winners but also by people who received retirement and inheritance money, people who had just been promoted and those people who received an increase in salary. You have seen this happen to people around you and even possibly to yourself. 

Sadly, most people are not even aware that they are already victims of lifestyle creep. 

Does it mean that you have to continue living in the same standard as you were before even with an increase in income? Well, not really.

You can make lifestyle adjustments with an increase in income but there is a limit to it.

How to know the extent of allowable adjustments in lifestyle? The key is to have a spending plan or a budgeting technique. If you want to be wealthy, you need to set some financial goals. You need to make short-term sacrifices and stick to your money management system. You need to practice delayed gratification and opt to put your hard-earned income on investments first before spending them on liabilities. 

THE MONEY JAR SYSTEM

The money budgeting technique described below is actually a modified version of the Money Jar System, which was first introduced by T. Harv Eker, businessman and author of The Secrets of A Millionaire Mind. It is also an expanded version of the Abundance Formula (100=10-20-70) of best-selling author, entrepreneur and preacher Bo Sanchez.

The purpose of a budget system is for you to develop spending habits within your means and at the same time to lead you to future wealth and financial abundance.

It is called the Money Jar system because you can literally start by getting 6 jars and labeling them. In this budgeting technique, you need to divide your earned income into six (6) accounts:

1.  Give Account – 10%

As soon as you receive your income, your first expense should go to this account. You probably think that this is insane. Why do you need to give when you have barely enough to cover your expenses?

The purpose of giving is to put God FIRST in your life.

You need to acknowledge the fact that your gifts and talents all came from God. Giving or tithing is your way of saying thank you to God. More blessings will come your way if you learn to share your blessings. 

Do not give the excuse that you are going to start giving once your income increases. Giving is a state of mind. If you cannot let go of your 1,000 if you are earning 10,000, you will not be able to let go of your 100,000 if you are already earning 1 million. 

Why 10%? Several verses in the Bible talk about giving a tenth of your produce back to God.

Make an offering of 10%, a tithe, of all the produce which grows in your field year after year. – Deuteronomy 14:22

The give account can go to:

  •   Your church or spiritual community
  •   Your favorite charitable organisation
  •   A person in need
  •   As presents to relatives and friends on occasions

2.  Financial Freedom Account – 10%

Don’t you just want to wake up one morning wherein there is no need for you to go to work? You work only by choice and not because of necessity. Well, this account is your key.  It is your investment account. It is the most important account for the wealthy.


Financial freedom is the ability to live the lifestyle that you desire without having to work or rely on anyone else for money. – T. Harv Eker

Remember the story of the goose that lays the golden eggs? Well, this fund is your goose. Kill this fund and you kill your source of golden eggs. Do not commit the same mistake as the farmer. You shall NEVER EVER EVER spend this account.

Youtube Video from Anon Animation Ryhmes for Kids
 

Your financial freedom account can go to:

  • Stocks, Bonds or Funds
  • Business Investments
  • Real Estate Investments
  • Insurance

If you have debts, use this account to pay off all our debts first before you start investing. 

3.  Long Term Savings Account – 10%

This account is allotted for long term spending. This fund has the most flexibility because you can use it for anything in the future just in case you need it. It is your rainy day account or your emergency fund. It plays a major role in ensuring your long term financial success. Having money available when you need it can be a life saver.

Sample usage for your Long Term Savings Account:

  • Down payment for a house or a car
  • Your dream vacation
  • Hospital Expense
  • Tuition Fee Increase
  • House Repair
  • Your child’s birthday party

It is highly recommended that you set up a different savings account for this one. Set the account in such a way that it will be hard for you to withdraw money. For example, instead of an ATM account, open a passbook account. You can avail of an automatic save-up account being offered by banks.

4.  Education Account – 10%

You are your most valuable asset. You need to invest in yourself for you to grow. The more educated you are, the more career options you have. Read books. Attend seminars. Develop your gifts and talents.

It was said that this is one of the difference between the wealthy and poor. The poor people have big TVs while the rich have big libraries. That is because wealthy people put emphasis on continuous learning. In fact, about 88% of the wealthy read for at least 30 minutes each day for personal growth or for career development as opposed to only 2% of the poor.

Success is something that you attract, by the person you become. – Jim Rohn

5.  Play Account – 10%

This will probably be your favorite account – the FUN account. It is an account to spend however you want. Use this fund to pamper yourself. Get a massage. Eat at a plush restaurant. Go to a weekend getaway.  Watch a movie or a concert. Buy that latest gadget. You are allowed to shop until you blow this money away. A small indulgence can have a big psychological impact on your money morale.

So, if you want that expensive bag, sports car or luxury vacation, save up for it or increase your income first until it can fit in your 10% budget.

6.  Necessities Account – 50%

This account is for your everyday expenses. Included in this account are your bills, electricity, food, rent or mortgage, transportation, utilities, etc. If you cannot survive on 50%, that means you are living beyond your means. That is a clear signal that you need to simplify your lifestyle.

Follow this system and you will find yourself gradually increasing your wealth. It is going to be hard the first few years but it is all worth it.

First published in Pinoy Smart Living on 01.15.2019

Feature Image by Posted by A.L. Jonas in Financial, 0 comments

08
Jan
2020
How To Recover From Your Holiday Spending

How To Recover From Your Holiday Spending

Reading Time: 2 minutes

As you pack your Christmas decorations back in their cabinet, the money that you’ve blown away during the holidays is now finally sinking in. The mere thought of looking into your credit card account balance may even petrify you. If it’s any consolation, you are not alone in your predicament.The holiday spending hangover is ranked as the number one problem by most people at the start of a New Year according to a study made by LearnVest, an online seller of personal finance software. To put your finances in place, you need to figure out ways on how to recover from your holiday spending.


Try out these tips to get your finances back in shape after the holidays.

1. Put your plastic on hiatus.

The first thing to do is to put a stop on your credit card spending. Your bills as well as the interests will keep on piling up if you will continue using your credit card. A hiatus means to pause – pause just until you pay it in full. Use cash for your purchases instead.

2. Assess your situation.

One thing is for sure, you cannot leave your bills unopened. You will have to face them sooner or later (although later is a bad idea because once your bills become overdue you will find yourself facing unwanted late charges). Instead, gather all statements and receipts related to your holiday purchases. Sum them all up. Then arrange them from the highest to the lowest interest rates. Prioritise and settle all those that charge higher interests rates first. Take note of all payment due dates.

3. Set up a payment plan.

Once you have a figure in mind on how much you are supposed to pay off, the next thing to do is to set up a payment plan. The best option is to pay the amount in full. Although it is the best solution, it is not always viable. So instead, come up with a goal or a target date on when you want to fully pay your holiday spending. Once you have a definite goal, you need to have a smaller goal each month. Pay the maximum amount that you can on a monthly basis and calculate how long will it take you to fully pay the bills.

4. Trim your budget.

To speed up your progress, you need to limit your spending at least until all your holiday overspending has been paid off. There are various ways to reduce your monthly expenses.

Aside from trimming your expenses, this is also the best time to start using a monthly budget (if you haven’t started yet).

5. Sell items that you don’t need anymore.

The start of the year is also a good time to start cleaning your closet or your house for that matter. Get rid of items that you no longer need and sell them. The proceeds can be use to pay your holiday bills. By doing so, you not only earn extra cash but you also get to declutter your home and remove stress. 

Finding out how to recovering from your holiday spending should be your first step in having a fresh start in your financial life.

First published in Pinoy Smart Living 01.01.2019
Image Credit: Gundula Vogel from Pixabay Images

Posted by A.L. Jonas in Financial, 0 comments