Why Can’t You Get A Month Ahead On Bills
What’s holding you back from getting a month ahead of your bills? There’s a reason you need help getting ahead. You probably know the problem but need to know how to fix it.
Two scenarios cause a person to have trouble getting ahead on their bills. They need to earn more money to get ahead; they earn enough but don’t spend wisely. Sometimes it’s a combination of the two reasons. So how can’t you get a month ahead on bills?
If you want to know how to get a month ahead of your bills, read on.
Why Can’t You Get A Month Ahead On Bills
How to get a month ahead of bills
Earning Problem
To solve a problem, you need to acknowledge there’s a problem. It’s more than saying, “I’m broke, and I know it. You have to get to the root of the problem. It would be more like I’m broke because I took a pay cut or my hours got cut.
Or the situation could be you need to be wiser regarding money. You could be overspending. Or you could be spending money on the wrong things and not getting ahead of your bills.
I used to know a guy who made good money but was always broke. He spent most of his money on his car. His goal was to convert a car to a race car.
Identify The Problem Is It An Earning Or A Spending Problem
The way to identify the problem is to determine how much money you earn and subtract the necessary amounts for living. These would be living costs like rent/mortgage, electricity, water, minimum payments on credit cards and loans, etc.
Don’t include wants.
How much do you need a month? If you need more than you earn, your problem is an earning problem. If you need less than you earn, then it’s a spending problem.
Let me step out on a limb. There are times when we get taken by surprise, and life happens. It’s a car accident, health issue, or natural disaster. It doesn’t matter what it is. You’re struggling to get a month ahead on bills.
After it’s all done, hopefully, you’re on your way to recovery, but you can’t get a month ahead.
Some of the tips below will help you sort out the mess and make good decisions. Knowing how to get a month ahead of bills is half the battle.
What If It’s An Earning Problem
There are many ways to solve earining problems.
Look for ways to lower your cost of living. You have many choices, and you can use all of them simultaneously.
You can use coupons to save money on groceries or buy in bulk.
You can get a roommate to share living expenses.
You can ride a bicycle to and from work.
Cut your electric bill and other utilities.
Ask For A Raise Or Promotion.
It never hurts to ask for a raise or promotion. But when you do ask, ensure you are an asset to the company. It will be easier to convince them to give you more money if they like your work.
Start A Side Gig
A side gig is something you do on the side to earn money, but you are not an employee.
The possibilities are endless, from running errands to cutting grass, house sitting, and dog walking. These are just a few examples of what you can do to earn more money.
Find A Better-Paying Job
It may be time to change jobs. Before you start looking, refresh your resume. And start looking for a job that pays more.
What If It’s A Spending Problem
Most people with spending problems must learn to say no to themselves. If you have a spending problem, you need to stop spending. That’s the answer.
To get a month ahead of bills, we all need guidelines. We need to know how much we can spend on different things. It would be easy if everything cost the same, but it doesn’t.
Create a budget, and in your budget, leave room to save enough money to get a month ahead of your bills.
If your goal is to be a month ahead of your bills in twelve months, you must set aside one-twelfth of your bills each month. At the end of the year, you will have enough money saved to be one month ahead on your bills.
The spending journal is a commonly overlooked tool that should be included with budgets. A spending journal is intended to be used after every time you spend money. There will be a column for the date, what you spent money on, the category you spent from, and the payment method.
It’s essential to balance your budget against your spending journal. When you verify the amount you spend vs. the amount you plan to spend, you may find ways to trim your spending.
Conclusion
Why can you get one month ahead of your bills? If it’s an earning or spending problem, you can solve it by taking the proper steps.
You need to decrease your cost of living or increase your income. Use a budget and spending journal.