by Sharon Jones

You work hard, you command a decent wage. You afford yourself a few of the finer things in life and maybe even the odd extravagance, but you certainly don’t have a hedonistic or indulgent lifestyle. In fact, in many ways your standard of living is incredibly modest. Nonetheless, financial security still eludes you. Every time you look at your bank statement your heart drops into your stomach and the prospect of birthdays and Christmases send you into paroxysms of worry. You fear that this will be your lot in life, that you will never know the quiet comfort and assurance that comes with knowing that your finances are stable and secure.

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Image by TaxCredits.net via Flickr

However, while human nature may lead us to bury our heads in the sand when it comes to managing our household finances and we may be tempted to think of our monetary situation as at the whim of some sort of capricious God, as a beloved superhero from the early ‘90’s used to say...

The power is yours!

Only you can take control of your finances and put the infrastructure in place that will facilitate your financial freedom. There are no quick fixes, of course, it’s simply a matter of diligence, patience and consistency. Here are some measures you can (and should) put in place…

Put a budget in place and stick to it

When it comes to taking control of your finances, establishing a budget should be your number one priority. It will encourage you to account for every purchase that you make, however large or small, and help you to keep track of all the little expenses that add up to that big unpleasant surprise that you get when you open your bank statements. Any of these household budget templates will work wonders for you so long as you make sure that you stick to it.

Budgeting will ensure that you set enough aside to manage your debts effectively, ensure that your bills are paid and prevent wasteful spending that can derail your savings goals.

Borrow from lenders who make it easy

Simply being alive in the 2010’s is an expensive prospect, as the cost of living rises and yet our wages remain much the same. Thus, for many of us borrowing is a necessity to navigate the skyrocketing cost of living. But just because you need to borrow does not mean that you need to be enslaved by debt. Borrow from lenders who make it easy by making their interest rates transparent and giving you the means to manage your debt. Just check out the easy to use app by Blue Trust Loans for a good example of this. When lenders try to obscure interest rates and bamboozle borrowers with complex financial terminology these are signs that they should be avoided.

Can’t manage? Consolidate
Finally, sometimes our debts can get on top of us, making it harder to manage our finances and pay for the unexpected expenses that all too often assail us. If your debt is impossible to stay on top of, a consolidation loan can be extremely helpful. It can combine all of your debts into a single, affordable monthly payment and will even improve your credit rating by replacing all of your existing debts!