Is Your Wallet Always Empty At Month End? Here’s Why

Jan 23, 2019 | Budgeting | 0 comments

wallet always empty at month end

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They say the first step to solving a problem is to identify that there is one.

Luckily you’ve already done that, as you’re reading this post

Of course, the problem you have is that by the time the end of the month rolls around, is that your wallet is as empty as a college dorm room fridge.

Don’t panic though because with the advice below you can stop this from happening time and time again.

Read on to find out more.

BUYING YOUR FIRST HOME

SAY BYE BYE TO CREDIT CARD DEBT

One of the most insidious causes of empty wallet syndrome is that all your money is going to pay off fees on debts you owe, especially credit card fees.

You know those ones where you pay off the minimum and never actually get to clear the balance, so you basically stay in debt forever!

The solution here is to deal with this issue head-on and pay off credit card debts.

In fact, by prioritizing these costs each month and paying off as much as you can, you can clear them a lot quicker, something that should ensure you still have money left in your wallet and your bank account when it comes to the end of the month.

CLAIM BACK WHAT YOU ARE OWED

Do you give money away to strangers on the street? Do you throw dollars down the drain?

Well, you might think the answer is no, but if you are paying for something that is someone else responsibility, you might as well be.

The most common situation in which this occurs is when you are involved in an accident that was caused by someone else. Something that can cost you a lot in medical bills, or if you can’t pay them right away, medical credit.

All because of another person’s mistake.

Of course, the solution here is to find a professional team like Aitken Aitken Cohn Trial Lawyers that can establish whether you have a personal accident case.

This case can take to court and could result in you reclaiming this money, that is currently coming out of your own budget.

Something that means your wallet won’t be so bear at the end of each month, just because of someone else mistakes.

SMART BUDGETING

Yes, I know I said it

The B word that no one wants to hear, but shockingly enough they are actually helpful when it comes to having money in your wallet at the end of the month.

OK so, budgeting may feel a bit restrictive when you have to check each time you make a purchase.

However, with some simple and visually engaging budgeting apps available for your smartphone it’s not like you have to carry a ledger around with you all the time.

Also, by getting into good budgeting habits early, you are setting yourself up positively not just to have more money at the end of the month, but for life as well.

Something that makes writing a budget at the beginning of each month well worth the time and effort!

What tips do you have to afford your bills at the end of each month?  Comment below!

Happy budgeting!

[a contributed post]

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