Parents strugling with their bills
I want to talk about it because I know what it is. I know how hard it is to raise your childrens when you are having hard times trying to put food on the table, I did it, alone in a foreign country. But even if is hard, you can do it !
So, if you're a parent struggling with bills and want to improve your financial situation, here are some key steps I want to share with you to improve your financial education.
Track your expenses on a daily basis. The first step to improving your financial situation is to understand where your money is going. Track all of your expenses for a month or two to get a clear picture of your spending habits.
You absoulutly need to create a budget. Once you have a clear understanding of your expenses, create a budget that reflects your income and spending. Make sure to prioritize your essential bills and expenses, such as rent/mortgage, utilities, and food. Track every single expense.
Reduce unnecessary expenses. Look for ways to reduce your expenses, such as cutting back on subscriptions or finding more affordable alternatives to your regular expenses.
Increase your income. Explore ways to increase your income, such as picking up extra shifts at work, taking on a part-time job, or starting a side hustle. But, be careful, because if you increase your income and you increase your expenses because you are earning more ... you won't solve anything!
Build an emergency fund. Yes ... an emergency fund ... why? Because shit happens ! So, aim to build an emergency fund with at least 3-6 months of living expenses. This can help you avoid falling into debt in the event of an unexpected expense.
Learn about personal finance. Read, read and read ! Take advantage of free resources to learn more about personal finance, such as books, podcasts, and online courses.
Don't be afraid to seek out financial assistance if you're struggling to make ends meet. There may be government programs or nonprofit organizations that can provide financial assistance, such as food banks or rental assistance programs.
Remember that improving your financial situation takes time and effort, but by taking these steps and committing to your financial education, you can achieve a more stable financial future for yourself and your family. And doesn't matter how hard it is, what your kids need the most is your love, your time and kindness. They don't need the most expensive toy or gadget ... they just need YOU !