Tired of Struggling Financially? 11 Practical Steps To Overcome It

Are you tired of struggling financially? It can be overwhelming to feel like you’re barely making ends meet.

But don’t worry, there are practical steps you can take to improve your financial situation.

By implementing these 11 unique tips, you can start taking control of your finances and feel more confident about your future.


1. Take a hard look at your budget

and see where you can make cuts.

Consider reducing your expenses by cancelling subscriptions you don’t use or negotiating bills.

Next, focus on increasing your income by finding a side hustle or asking for a raise at work.

You can also sell unused items or participate in paid surveys to earn extra cash.

Another important step is to prioritize paying off debt.

Make a plan to pay off your highest interest debt first and consider consolidating your debt to make it more manageable.

Additionally, seek out free resources for financial education, such as online courses or books from the library.

By taking these steps, you can start working towards a brighter financial future.

2. Track Your Expenses

Tracking your expenses is the first step to getting your finances in order.

Here are some practical tips to help you get started:

  • Use a budgeting app: Consider using a budgeting app to track your expenditures and save time.
  • Keep receipts: Save all your receipts and make a habit of recording them in your budget.
  • Categorize your expenses: Group your expenses into categories such as housing, food, transportation, and entertainment.
  • Set spending limits: Set limits for each category to avoid overspending and stay within your budget.
  • Review your budget regularly: Review your budget regularly to see where you can cut back and save more.
  • Use cash: Consider using cash for your purchases to help you stay within your budget.
  • Avoid impulse buying: Avoid impulse buying by making a shopping list and sticking to it.
  • Look for deals: Look for deals and discounts on items you need to buy to save money.
  • Use credit cards wisely: Use credit cards wisely and only for purchases you can afford to pay off in full each month.

By tracking your expenses, you can identify areas where you can cut back and save more money.

3. Create a STRONG Budget

Creating a budget is essential to managing your finances.

Here are some steps to get started:

  • Calculate your net income. This is your take-home pay after taxes and deductions.
  • List your monthly expenses. Include fixed and variable expenses like rent, utilities, groceries, and entertainment.
  • Label each expense. Categorize them as needs or wants.
  • Determine the average monthly cost for each expense. Use past receipts or bills to get an accurate estimate.
  • Make adjustments. Look for areas where you can cut back on spending and adjust your budget accordingly.
  • Stick to your budget. Use budgeting apps or spreadsheets to track your expenses and stay on track
  • Prioritize saving. Include a savings category in your budget and make it a priority.

Creating a budget may seem overwhelming, but it’s a crucial step towards financial stability. Start small and make adjustments as needed.

4. Cut Unnecessary Expenses

One of the easiest ways to improve your financial situation is to cut back on unnecessary expenses.

Here are some practical tips to help you do just that:

  • Make a budget and stick to it.
  • Cancel subscriptions and memberships you don’t use.
  • Shop at discount stores and buy generic brands like Aldi
  • Cook meals at home instead of eating out.
  • Use public transportation or carpool instead of driving alone.
  • Turn off lights and unplug electronics when not in use.
  • Negotiate bills with service providers.
  • Use coupons and promo codes when shopping online.
  • Sell items you no longer need or use.
  • Take advantage of free activities and events in your community.

By implementing these simple strategies, you can save money and get on the path to financial stability.

Remember, every little bit counts!

5. Increase Your Income:

Looking for ways to increase your income?

Consider starting a side hustle or freelance work. You can offer services like writing, graphic design, or social media management.

You can also sell products online, like handmade crafts or vintage items.

Another option is to rent out a spare room on Airbnb or drive for a ride-sharing service like Uber or Lyft.

Don’t be afraid to get creative and think outside the box.

With dedication and hard work, you can increase your income and improve your financial situation.

6. Prioritize Saving Money

Saving money is essential when you’re struggling financially.

Here are some practical ways to prioritize saving:

  • Cut back on unnecessary expenses, such as eating out or subscription services.
  • Set up automatic transfers to a savings account.
  • Use cashback apps and rewards programs to save on purchases.
  • Shop around for better deals on bills and services.
  • Consider downsizing your living space or transportation.
  • Meal plan and cook at home to save on groceries.
  • Use coupons and discount codes when shopping online.
  • Sell items you no longer need or use.
  • Prioritize paying off high-interest debt to save money in the long run.

By prioritizing saving money, you can build up an emergency fund and work towards achieving your financial goals.

So start small and work your way up. With consistency and dedication, you can improve your financial situation and achieve financial stability.

7. Start Investing:

Investing can be a great way to build wealth and secure your financial future.

Here are some tips to get started:

First, determine how much you can afford to invest each month.

Next, open an investment account and decide on an investment strategy that aligns with your financial goals.

Finally, research and understand your investment options, such as stocks, bonds, and mutual funds.

Remember to diversify your investments and be patient.

The stock market can be volatile, but over time, it has historically provided solid returns.

Seek advice from a financial advisor if you’re unsure about where to start.

8. Negotiate Bills and Fees:

One way to lower monthly expenses is by negotiating bills and fees.

Start by researching the current rates and offers of your service providers.

Call them and ask if they can lower your bill or offer a better deal.

Be polite and persistent, and don’t be afraid to ask for a supervisor if needed.

If negotiating isn’t your strong suit, consider using a bill negotiation service like BillFixers or BillCutterz.

These services will negotiate bills on your behalf for a fee.

Remember, even a small reduction in monthly bills can add up to significant savings over time.

9. Get a Side Hustle

Looking for a way to earn extra cash? Consider starting a side hustle.

  • Use your skills: Offer your skills, such as writing or graphic design, on freelance platforms.
  • Sell your stuff: Sell items you no longer need or want on online marketplaces like eBay or Facebook Marketplace.
  • Drive for a ride-sharing service: Sign up to be a driver for Uber or Lyft.
  • Deliver food: Use apps like DoorDash or Grubhub to deliver food in your spare time.
  • Rent out your space: Rent out a room on Airbnb or rent out your parking spot on SpotHero.
  • Provide pet care: Offer pet-sitting or dog-walking services in your neighbourhood.
  • Do odd jobs: Use TaskRabbit to find odd jobs like assembling furniture or running errands.
  • Teach a skill: Offer tutoring or music lessons to others.
  • Rent out your car: Use Turo to rent out your car to others.
  • Sell crafts: Sell handmade crafts on Etsy or at local craft fairs.
  • Participate in paid surveys: Sign up for paid survey websites like Swagbucks or Survey Junkie.

Consider what skills or resources you have that you can use to start your own side hustle.

With a little effort and dedication, you can turn your side hustle into a profitable venture.

10. Consider Downsizing

If you’re struggling financially, downsizing to a smaller home can help you save money on mortgage or rent, utilities, and maintenance costs. Here are a few things to consider:

  • Think about your needs and wants in a home. Do you need a big yard or multiple bedrooms?
  • Research the housing market in your area to find a home that fits your budget.
  • Calculate the costs of moving and selling your current home.
  • Consider the emotional impact of downsizing and leaving a home full of memories.

Downsizing can be a difficult decision, but it can also provide financial relief and a simpler lifestyle.

11. Seek Professional Help:

If you’re feeling overwhelmed or unsure of how to manage your finances, it’s important to seek professional help.

A financial advisor or credit counselor can help you create a plan to get back on track.

They can also provide guidance on debt consolidation, credit repair, and budgeting.

It’s important to do your research and find a reputable professional who has your best interests in mind.

Remember, seeking help is a sign of strength, not weakness. D

Don’t be afraid to ask for help when you need it.


Improving your financial situation takes time and effort, but it’s worth it.

By following these 11 steps, you can take control of your finances and work towards a brighter future.

Remember, small changes can make a big difference. Start today and stay committed to your goals.

Read More: How To Save Money with a Low Income: 21 Proven Tips to Keep More Cash

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