Feeling Financially Overwhelmed? You’re Not Alone

Feeling financially overwhelmed? You're not alone. Financial stress may be unavoidable, but there are steps that you can take to help you prosper financially.

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Feeling financially overwhelmed? You’re not alone. Financial stress may be unavoidable, but there are steps that you can take to help you prosper financially.

Do I have to mention that 50% of American households cannot afford an unexpected bill of $500 or more, or only 35% of credit cardholders pay off their balance each month?

Or do I need to let you know that by missing a credit card payment, or maxing out your card, can lead to a reduction in your credit score, which means a more expensive lease agreement or personal loan agreement when going to borrow money?

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  • Aspiration: Want to get spotted a $100 for free? Simply sign up for Aspiration, and the free banking app will give you cash for free, you just relax while it gives you $100 just for opening a new debit card. There’s no catch, just use your card to make at least $1,000 in cumulative transactions within 60 days of opening an account. This bank account is legit and only takes two minutes to sign up for an account.

Or do I mention that when most people earn more money, they simply upgrade what they have or attain another bill through another subscription etc., meaning that the extra money that they have earned is negated?

So, regardless of earnings, the same result will always occur at the end of the month.

So given all these statistics how can millennials fair in a looming prospect of being financially successful?

Save First, and Then Spend

If you are feeling financially screwed you need to focus on money-saving ideas and stay chill.

Pay yourself first. When I first heard this phrase, I actually thought, how do I pay myself? What with?

Then I realized that it does not really mean pay yourself first, but save first and then spend.

At some point in time in our lives, odds are is that we have been short of money. Whether it be at the grocery store, traveling, or being on vacation.

In that case, what did we do? We simply made smarter choices. You made do with some things and not others. Think about how your decisions changed when you were short of money.

When you know you have less money to spend, you make smarter choices, because you have to think about the best way to spend that money.

Each dollar has a value and you can only spend it once. I would recommend using that same mentality even when you aren’t short on cash.

Savings is Key

When you get paid, I suggest putting 10% away immediately. You will soon get used to having less disposable income each month, but guess what, you will be making smarter decisions, which is a win-win.

(If for example you get paid $1000 per month)

Month Month Amount Cumulative
1 100 100
2 100 200
3 100 300
4 100 400
5 100 500
6 100 600
7 100 700
8 100 800
9 100 900
10 100 1000
11 100 1100
12 100 1200

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By the end of the year, you have a month’s salary in the bank, you no longer are one of the 50% “have not” statistics and you are making smarter choices each month. As you get paid more, you are able to save more and keep grinding and stay at it.

Bottom Line

Once you learn how to save money, your savings are now there for a deposit on a house, a car, an unexpected vacation, further tuition, or whatever priority comes your way.

Like any habit, the good habits are always the hardest to start – no sugar in your coffee etc., but with a little perseverance, you will reap the rewards.

Once you get your savings in order, you can learn easy ways to make some extra cash online.

Want free money?

  • Robinhood is a free investing app for your phone. I really mean free all around – free to join and they don’t charge any fees to buy or sell the stock. You can get a share of stock like Apple, Ford, or Sprint for free when you join through this link. The value of the free share may be anywhere between $2.50 and $500 and fluctuates based on market movements. You’ve got nothing to lose.

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See Resumes is a site made for professional job seekers of all ages. This professional career website is a comprehensive site complete with resume templates, career advice for job seekers, job application tips, and even personal finance for those who need it.

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