Dealing with money is not always easy. Perhaps all bills fall on the mat at the same time, or your car needs to be repaired. Or maybe your mortgage is under water and you spend more on a structural basis than you receive. Whatever the situation, everyone can start budgeting and paying off their debts. We list five useful tips below to help you get your money back in order quickly!
5 money tips for success: start paying off your debts
Step one to a healthy financial situation is paying off your debts. Debts cost a lot of money and bring a lot of stress. To pay off debts efficiently, it is useful to start paying off your smallest debts more quickly. With the money that remains after that, you can tackle the larger debts. How long it takes for all debts to be paid depends on the situation. There are at least many stories online of people paying off debts, big and small. Inspiring!
5 money tips for success: what about the mortgage?
In the time of the economic crisis, a huge number of Dutch people have taken out a mortgage above budget, or even an interest-only mortgage. With all its consequences. For those it is advisable to save all the money together and to repay the mortgage extra, even if this means that you get less mortgage interest deduction. It is safer to prevent money problems later. Have you not taken out a mortgage yet, but are you considering doing so? Then make sure you carefully consider what fits within your budget. Never take out a higher mortgage than responsible and check that your situation can change over time. Also take a good look at the rules with regard to extra repayments, is this penalty-free? What are the fine print? It can be useful to get information from several mortgage providers and to take out the loan that best suits your situation.
5 money tips for success: earn more money
More income is often welcome, but how do you achieve this? The new generation understands how it works: by doing what you really enjoy, you never have to work a day in your life. If you now have a full-time or part-time job, start on the days off or in the evening hours. Sit down and think about what you are really good at and what gives you energy. How can you link a revenue model to that? As you get more certainty you can reduce your permanent work or combine the work for extra income.
5 money tips for success: saving money
There are thousands of articles on the internet with saving tips. It is important to find what works well for you. Find out if you like to take your budget with you when you go shopping or go shopping, work with an envelope system with a budget per category or make lists and stick to it.
5 money tips for success: budgeting
Budgeting is the basis for a healthy relationship with money. By budgeting you have insight into your financial situation and you keep control. Make sure you know what is coming and going. Use a (digital) cash book or housekeeping book. Make sure your administration is in order and you know what you have to pay. Set aside a monthly amount to save.
What do you think of these money tips? Do you have any other money tips to get your financial situation in order?