Fixing Finances: A challenge worth taking!
Life nowadays is not that easy. Prices of commodity is in the upward trends yet the income of an individual almost remains the same. You are lucky enough if you have an employer who is generous to give increases. But considering the current economic condition, it is more often that not that company consider their financial condition first before looking at it’s employees status.
The current condition makes me realize to study thoroughly my financial position. Considering the factors like the future of my kids, the obligations to settle and family needs to satisfy gave me the idea to start Fixing my Finances. Being a Finance graduate, I thought all the while that this is an easy task to do. But after series of analysis and computation of my current expenses and reconciling it against my income, I found out that I’m just on a break-even situation. One false move and I’ll be at negative figure which is a horrible thing to experience. Yes I have to really do something to arrange my finances.
In order to fix my finances, I believe that I have the following option which is (1) to find means of increasing my income and (2) reduces my expenses and work within budget. As of now, I’m working on those two options to have a better financial condition.
I’m now on process of increasing my income, by looking for additional client by providing finance related work. I also started looking for on-line job that might give other income. Lastly, I also start to consider to venturing in a business with minimum capital.
Reducing my expenses is another option I intend to make. At present, I am not using my car to avoid higher expenses brought about by high pump prices of gasoline. I now spend wisely and buy only the things that we need. We also started lowering our electricity bill by doing energy conservation measures. I now limit my gimmick and drinking session which will generate big savings.
Though I may not perfectly fix my finances by doing things I’ve mentioned, I believe this is good start to use wisely my earnings.
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