Financial troubles are an increasingly common problem that can have ramifications on every area of a person’s life. They can put stress on your family and the relationships with your family. It can affect your work life, as your lowered mood may decrease your productivity.
That being said, getting help with your money has never been easier. From financial advisors to customer helplines, there’s always someone to contact. The greatest thing about living in 2016 is the sheer number of options available to us, in all walks of life. Your finances are no different, and there is always help to be found.
A financial advisor
It’s all in the name! A financial advisor will be able to er, advise you on your finances. They will be able to help you plan your monthly budgets and suggest any changes. You do have to pay for a financial advisor, but some of them offer helpful payment methods.
These range from monthly to commission based. If they’re helping you out, they’ll get a larger cut. As such, you may not have to pay much if it isn’t working out. And when you do have to pay up, you’ll be in a better financial position anyway so it won’t matter.
Contact your bank directly
It goes without saying that these guys will know what they’re talking about. Nowadays, most banks are on social media and have websites, so finding contact numbers is easy. For example, the RBS customer services information pops up after a quick online search. No longer do we have to physically go down to the bank to get aid.
What’s more, a lot of banks have helplines that are 24/7. This means that you can get help at any hour, late or early.
Consult more experienced family members
Or, more specifically, your parents. They may have helped you buy your first house, or sell your old car. They’ve seen a lot more than you, and may be able to recommend certain paths. They may tell you that Natwest is better than Nationwide, and present reasons why. They may be able to recommend a financial advisor for you to use.
Don’t neglect this well of knowledge. Just because we’re older now, doesn’t mean our parents are any less useful. Managing finances is all about experience, and they have lots of it. Talking to your family would be a wise financial move.
Budget planners and spreadsheets
There are literally hundreds of helpful items available that fall under this banner. Most computers nowadays will come with some form of Microsoft Office installed. This suite comes with Excel and Word, and both have available finance management tools.
Word is packed with templates that range from receipts to invoices, so you can jot down all the important stuff. Excel is used to create spreadsheets, so you can go monthly, weekly or even daily. Tracking how much you spend can help you identify what you can afford to lose. For example, if you notice you’re spending a lot on public transport, you can work to reduce these costs.