5 Ways How To Stop Worrying About Money And Make More
Do you have money problems? These are five ways how to stop worrying about money and to make more!
Did you know that financial problems are the leading cause of stress?
Yep.
It's very common for people to worry about money.
You stress about debt, not earning enough money, and being able to pay your bills on time.
You can change your financial situation and defeat your financial fears.
In my twenties, I spent most of my money going out with friends, attending concerts and sporting events, and going to bars. I knew nothing about how money worked. No one taught me about budgeting or how to manage my money. I only heard about a budget during my junior year of college. I struggled with making enough money, even though I thought going to college would help set me up for a promising career (it did not).
These are five ways how to stop worrying about money and make more to change your financial situation.
🚨Problem: Money Stress
When you're struggling with money, it affects everything.
Why?
Money is required to function and live in society.
Life becomes stressful.
You cannot pay off your debt.
You cannot pay your bills on time.
You can’t make your rent.
When you have financial stress, you:
Lose sleep over bills.
Feel stuck in a job that doesn't pay you enough.
You may work multiple gigs and part-time jobs because you cannot find something better.
Avoid checking your bank account because you're afraid to see your balance.
Stress makes it hard for you to think clearly.
Ignoring your financial problems isn't a solution.
✅Solution: Face Your Financial Situation
I know it's scary.
You don't want to do this.
You have to face the numbers.
You need to know exactly where you financially stand.
First, find all of your financial accounts:
Business accounts
Checking and savings accounts.
Credit cards
Debt
Loans
Second, track every dollar you spend for one month.
Why is this important?
You know where you're spending your money.
You can later work to reduce the amount of money you spend.
Third, create and follow a simple budget.
Start by using a free budgeting app on your phone or computer.
Review your spending at the end of each month.
Cancel any subscriptions you don't use or need.
Stop making impulse purchases online and at the grocery store.
Spend less than you make each month.
😎Why Does This Matter?
You can't fix your financial problems if you don't know the state of your financial health.
Worrying only makes you stress out more.
Stop worrying about your finances.
You need to know your financial numbers.
Seeing the real numbers in front of you helps you plan.
Creating a plan will help your financial situation.
You can now work to take action to improve your financial situation.
🚨Problem: Your Paycheck Isn't Enough
Your job doesn't pay you enough.
You have two choices:
Spend less. The problem with this is that you can only cut so much.
Figure out how to make more money.
✅Solution: Increase Your Income
You always want to find ways to increase your income.
It does not matter your age or work experience.
There are always solutions to make more money.
Here are some ideas!
1. Side Hustle Ideas
Delivery driving: You can deliver food as a driver for DoorDash, Grubhub, or Uber Eats. Most delivery drivers make between $15 to $20 an hour, plus tips. I delivered for Grubhub in college. I have lots of interesting stories from it. You will, too!
Odd jobs: You can find odd jobs or extra work that you enjoy doing on TaskRabbit and Craigslist. If you have skills in a specific area, you may even be able to find consistent work on an app like TaskRabbit.
Freelancing: Freelance on Upwork or Fiverr. Look online for a flexible or temporary transcriber, writer, or virtual assistant job.
2. Find Free Or Cheap Training For Better Jobs
You don't need a college degree to earn more.
Some jobs do require you to have a college or graduate degree.
You need to learn in-demand skills.
You can learn skills online or by earning certifications.
Here are some ways to learn new skills.
Google Career Certificates: Grow with Google offers various certifications online, from IT to data analytics to artificial intelligence. You can earn a certificate in three to six months.
Free Code Camp: Free Code Camp teaches you how to code for free. The code camp is self-paced. You'll learn coding basics.
Coursera, Udemy, and Masterclass: Find a course and earn a certificate on a topic that interests you.
YouTube: You can learn the basics of graphic design, digital marketing, and programming.
Do your research: Find a free or paid certification for what you want to do. I earned a freelance copywriting certificate last year from The Creative Copywriter Academy.
3. Switch To A Higher-Paying Field
Some jobs pay you well without needing years of school.
You can switch to a higher-paying field.
Truck driving: Get your CDL license in 4-8 weeks.
HVAC technician: Become an HVAC technician in 6-12 months.
Remote customer service: Have a background in customer service and be good on the phone or chatting with customers online.
😎Why Does This Matter?
Earning an extra $300 to $1,000 a month can decrease your financial stress.
Side hustles can be a temporary way to make extra money while you work to find something better.
Or you can turn certain side hustles into a business.
Learning new skills can help you find a better-paying job in a year or less.
🚨Problem: Debt Feels Impossible To Pay Off
Your debt seems too big.
You believe that it's impossible to pay it off.
The more you ignore debt.
The worse it gets.
✅Solution: Attack Your Debt The Smart Way
Make it a financial goal to pay off all of your debt.
Here is a simple step-by-step strategy to help you start.
List all your debts. Order your debts from the smallest to the largest. Give the name of each that you owe. Organizing and having a list helps you to know what debts to prioritize.
Pay minimums on all debts except the smallest. Paying the minimum amount allows you to start to tackle your debts.
Throw any additional money you have at the smallest debt until it's gone. Use the money you make from your side hustle or from finding a better job to pay off your smallest debt.
Celebrate your wins. Recognize your accomplishment of successfully paying off one debt.
Repeat this process. Now, move on to your next one. Repeat this process until all of you pay off all your debts.
Do you want to know how to pay off your debt even faster?
Here's a bonus tip!
Call your lenders and ask them to:
Lower your interest rates. Tell them that you're working to pay off your debt. This shows them that you're willing to work with them and want to pay them back the money you owe your lender.
Make a payment plan. A payment plan will help you to pay off your debt faster since you have a strategy to pay it off. Cooperate with your lender to find a number that works each month for you.
Help you find a solution. Communicate and talk with your lenders. Don't be afraid to ask. It could save you money and help you pay off your debt faster.
😎Why Does This Matter?
Paying off one small debt gives you hope.
You know you can pay off your larger debts after paying off the smallest first.
It creates a snowball effect.
The snowball effect builds momentum.
You now know that you can pay off your other debts.
🚨Problem: You're Spending Too Much Without Realizing It
All of your small purchases add up fast.
Impulse buying keeps you from having extra money to save at the end of the month.
Your daily Starbucks coffee, an unused subscription, or buying a beer at the grocery store.
All of the small and impulse purchases affect your bank account
✅Solution: Cut All Wasteful Spending
Eliminate anything that you don't use.
Examples of everyday things that you waste money on are:
Any unused subscriptions. Review your monthly bank account and credit card statements at the end of the month. Review your email for any renewal updates for subscriptions. Cancel anything that you no longer need. I review my statements at the end of each month. I create a list of what to cancel.
Cook instead of eating out. Shop the sales at your grocery store. Cooking helps you to eat better. Learning to cook saves you money compared to eating out every night.
Buy used clothes and items: Shop at the thrift stores in your area. Use Facebook Marketplace to buy specific items online. Buy the used version from Amazon instead of purchasing a new one.
Related - 5 Tested Money Saving Grocery Shopping Tips You’ll Love!
😎Why Does This Matter?
Saving $100 a month is an extra $1,200 a year.
What can you do with the extra cash?
You can pay off debt faster.
You can save it in a high-yielding savings account.
Save money in a retirement account.
Invest in index funds or individual stocks in the retirement account.
🚨Problem: Fear Paralyzes You
You freeze.
Your money problems feel too big.
You believe that you can't change your financial situation.
You don't take action.
Fear traps you.
✅Solution: Change Your Mindset
You have a loser’s mindset.
You want to have a winner’s mindset.
Here are three simple ways to change your mindset.
Be aware of the words you tell yourself. You tell yourself that you can't do something. Change "can't" to "can." The little words you tell yourself matter.
Focus on progress, not perfection.. Perfection makes you procrastinate. Progress makes you take action.
Focus on solutions. Stop fixating on problems. Actively work to find solutions to your problems. Solutions make you take action to resolve your issues.
Related - 3 Powerful Ways For How To Stop Feeling Like A Loser And Win At Life
😎Why Does This Matter?
Stop living in fear of your financial situation.
Your current financial circumstances are only temporary.
There are solutions for them.
Take small daily actions to change your finances for the better.
Learn how to better manage your money.
Know that you can improve your current money situation.
🏁Summary
Your money problems won't disappear.
You're learning how to manage money.
Starting is uncomfortable.
Learn how to gain control of your money by:
✅ Paying off your debt.
✅ Tracking your spending.
✅ Finding a side hustle.
✅ Learning one new skill.
✅ Changing your mindset.
Action beats fear.
Every step forward makes you stronger.
You can successfully manage money.
You can be financially free.
Disclaimer: This content is for educational, entertainment, and informational purposes only. This is not financial, investment, or any advice. I write online about topics I find interesting. I make mistakes just like everyone else. Always consult a professional before making health, life, financial, investment, tax, or legal decisions.