Posted By: Faz
If you read my previous blog from the Money Rules series, you’re already aware that my finances were out of hand. Since then I have been trying to manage my money better. It has been tough so far but I have made some progress. My bank account has had a steady balance, I’ve moved on from Ramen noodles to pizza and I have been able to pay most of my bills on my own without having to call my mother.
This is improvement, but I’m still trying to make more than the minimum payment on my credit card bill, make higher payments on my student loans and save some money for a rainy day. It’s tough to get back on track after falling behind; however, baby steps will do it.
At the time of my first blog, I was hesitant to read any sort of bank statement or loan letter I got in the mail until my mom sat me down and made me open them right there in front of her. It was painful for me to see how much of my paycheck was going towards a bill rather than towards something pretty that I can hang in my closet.
Now that I sort of have things going on the right track I always go online and check my balances and see how much my bills are so I know not to spend too much money unnecessarily. It feels good to be in control and not to live in complete anxiety over money. However, I have a long way to go before I feel fully satisfied about my financial situation but baby steps is the way to go for now.
Rule 2: Take Baby Steps. Acquiring full financial independence and freedom right away after a streak of money issues and debt is near impossible. However, taking little steps to recover from the hit is a more realistic way to reach financial stability…eventually.