Cash flow is one of the most intense difficulties we face on a daily basis. It can feel like treading water in an endless flood, but maintaining healthy finances doesn’t have to be a constant struggle. With just a few perspective changes and cost-cutting practices, you can tamp down on the things that really cut into your financial security.
You may have heard that cutting out that morning Starbucks will send you on your way to a happy retirement. But simple purchases like this aren’t actually the issue for healthy cash management. Sure, the savings of a few dollars a day add up but don’t count on building a future by cutting out a little caffeine. What you really need is a mentality shift: Take stock of the big picture items that destroy financial stability rather than the minuscule expenses.
This might be the biggest issue plaguing your money management positivity. The average renter in America spends 28.4% of their income on housing payments. And that’s before taking into account all the other essentials you pay for every month like gas, electricity, water, internet, and television services.
The fact is, like with any other industry, real estate investors are hoping to maximize their profits, so real estate prices trend in a swooping pattern with rising lease and buying costs around the time most people are seeking renewals or a new home. Understanding when your local market is flooded with buyers versus sellers can help cut away at this enormous margin of your monthly income and help ease the pressure on your wallet in short order.
Prescription drugs are horrible for a well-planned budget. Some of the prescription drugs we take are for long term illnesses that can be accounted for on a monthly or yearly basis, but many more are in response to sudden infections that require a short round of antivirals, these are sprung upon us with no notice, making financial choices harder to preplan. There is a solution to both of these cash drains though, signing up for the best prescription discount card available to you.
A free prescription discount card can be used at tens of thousands of pharmacies in the United States (including Puerto Rico) – even with the big names like Walmart, CVS, or Walgreens – and dramatically reduces the price of both generics and name brand prescriptions.
All it takes is an email address and a few pieces of personal information to sign up, and a discount card can be used alongside your existing Medicare or private insurance provider. Just like with rent, healthcare is a game of percentages. You should always follow medical advice, but try your hardest to cash in on every discount price you can in order to avoid the skyrocketing expenses that drug manufacturers are trying to stick you with.
Using free discount sources to reduce the percentage of your funds that must be sunk into doctor’s visits, prescriptions, and possibly even lost wages as a result, you can improve your financial health in one fell swoop. Prescription savings are a great way to make a dent in your bloated budget.
Debt repayment is another major hurdle for millions of U.S. borrowers. Americans owe more than $5,000 on average in credit card debt – typically the most expensive borrowed money. Paying the minimum is always an attractive choice in the short term for those hurting for cash; however, this drains capital from your future at an alarming rate. Debt consolidation that utilizes a lump sum loan through hard money borrowing is an easy fix – simply searching for “hard money lenders Oregon” can get you started.
By borrowing from a private money lender, you can take advantage of the lowest price for repayment on the market to pay off your highest-interest debt first. A deduction of these loans from your balance sheet in favor of a private money loan brings in money owed to various lenders all under one hard money issuance giving you a discount in repayments and erasing the juggling act of numerous due dates, different types of borrowing, and loan amounts, and a variety of interest rates that can get confusing in the best of times.
The last of the big expenses have to be groceries. We all need to eat, but this can be done on a shoestring budget. Collecting coupons is one way to rake in savings, but also skimming through three or more of your local shops for the best prices can really add up. This is the frugal mentality really put to work. By saving on your groceries you don’t feel deprived of that typical addition to your routine—like a coffee—and can easily add the entire sum of money not spent into a savings pot.
This is the final point of financial stability. Saving for your future is the best way to fight financial difficulty. You may be going through a hard time today, but by committing to improving your stars tomorrow you ensure that these hard times won’t last.
If you are interested in even more business-related articles and information from us here at Bit Rebels, then we have a lot to choose from.
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