Spending Problem or Income Problem? - Minute Mondays EP_58

Spending Problem or Income Problem? - Minute Mondays EP_58

We often tell people that we can have a spending problem when things seem sour, it's our way to make light of a bad situation. Sometimes it's not that simple, you may actually have an income problem or worse you have both.

The best way to figure out the root of the problem is to start off with creating a budget. You can then dissect your expenses from your income. You will be able to see everything that you spend money on and decide if it's still worth paying for.

Once you have gone through everything, eliminated expenses and spending. habits that you can do without, that number will be your minimum spend per month. Comparing that number with your income will tell you if your current income will pay those bills.

You may have to find another way to make more money, whether through a part time job, a side income, re-schooling to get a higher paying job, applying elsewhere to find a higher paying job, uber, skip the dishes, whatever. 

It will be easier to come up with a plan and take action once you know where your starting point is.