Money controls pretty much everything we do. Whether consciously or unconsciously, it influences a lot of our decisions. Not a day goes by where we’re not thinking about our finances. Especially if cash begins to feel a little tight. In the event of an emergency, there are some things you can do to prepare. Here are a few ways you can prepare for anything that comes your way financially.
Get Advice From Anyone And Everyone
For the majority of people, talking about money is taboo. It’s one of those topics that brings up a great deal of shame or guilt, so many folks are reluctant to share their experiences. If you are cautious with opening about your finances, practice talking about it with a close friend. Talk to your friends and family. Research little tidbits online. Maybe instead of talking about your personal finances, you discuss something neutral - like what you learned about money from an article or a book. As you become more comfortable talking about money, you will build confidence with your personal finances.
Track EVERYTHING You Do
It’s boring, but you might want to write out or use an automated system to track all of your transactions. Having everything logged will give you clarity about where you currently stand and the future steps you need to take to make your dreams a reality.
Seek Help When Needed
When you run into financial trouble, you’re probably not going to know much about what options are out there. That’s where certain financial services can come in handy. You can consult different lawyers in order to see where you stand. You could also work with tax relief and bookkeeping services like Tax Group Center in order to get a few things ironed out. It can be very lonely when going through financial challenges, so definitely reach out to close friends and family for emotional (and possibly, financial, support). And if it makes sense, reach out to experts for support as well
Always Have A Contingency Plan
This goes for many walks of life but works especially well in regards to your money. It is helpful to have a plan B for when plan A goes a little south. Plan B may also go a little badly, too, so it’s wise to have a plan C as well! You don’t want to run into anything negative and be completely broken by it. Having contingencies allow you to stabilize yourself and your finances.
About Money & Mimosas: Money & Mimosas was started as a passion project by Danetha, a former NFL cheerleader turned entrepreneur and financial journalist. After a brunch conversation with girlfriends, Danetha was inspired to launch a blog to explore her journey of becoming rich, sexy and confident.