Here’s How To Dig Your Way Out Of A Financial Pit

Unless you happen to be incredibly lucky, there’s a chance that you’re going to find yourself in a less than ideal financial situation at some point in your life. Sometimes it’s because of a sudden disaster; sometimes it’s a more gradual shift. Either way, it’s incredibly common for people to end up in a financial pit without any clear way of how to get out of it. When this happens, it can be an incredibly frightening experience. It’s all too easy to panic and assume that you’re going to stuck in this kind of situation indefinitely. However, that’s not the case. In reality is it entirely possible to dig your way out of any financial pit that you might have found yourself in. You’ve just to be willing to put in the time and effort to make it happen! With that in mind, here are a few simple yet highly effective ways to get your finances back on track.

Curb your spending

The most common reason that many people end up in financial trouble isn’t because of some major disaster, it’s often simply because they were spending more than they could afford. While this might sound like something that would be very easily avoided, it’s actually an incredibly easy trap to fall into. Far too often people forget how much a little bit of money here and there can add up until you’ve basically spent all of the money that you have. Because of that, when something does happen you don’t have the extra income to deal with it, and you start to fall into the dangers of bad debt and overdrawn bank accounts.

Supplement your income

If you’ve dealt with your spending, then you’re going to be in a much better position to avoid falling further and further into financial difficulty, but that doesn’t necessarily mean that you’re going to be able to pull yourself out. If you want to do that, then you may want to supplement your existing income. This could be by getting a second job, taking out a loan of some kind or using sites like to make some extra money on the side. Whatever you decide to do it’s important that you think of this money as the boost that you need to get yourself back on solid ground, not as more spending money.   

Reduce your bills (where you can)

Sometimes it’s a good idea to look at your general household bills and look at where you can make some reductions. If you’re in really dire straits, then you might want to think about moving somewhere with a lower rate of rent or mortgage payments. Otherwise, it’s worth looking at gas and electricity providers to see if you’re getting the most competitive deal possible. A lot of people just assume that they’re getting a fair deal on their utilities while, in reality, they’re paying for more than they need to out of little more than convenience. You won’t always be able to reduce those kinds of regular outgoings, but it’s certainly worth looking into since it could potentially save you a lot of money.

Found Your True Calling Yet? Don’t Worry, Most of Us Haven’t

How many times have you told yourself that you’ll be productive and learn a new skill, only to invest lots of money into something and ultimately forget about it? What did you tell your parents and your teacher when you were young and they asked what you wanted to be in the future? Did you say a firefighter? An astronaut? Or perhaps you said you aren’t sure.

Not everyone grows up with aspirations, and that’s perfectly fine—it’s common. Even now, some of the most interesting people you’ll meet are those that switch careers every year, the people who have hobbies that come and go, and those with skills in all sorts of fields.

Don’t lock yourself into a path

Far too many people use their monetary and time investment as a way to dedicate themselves to something. For instance, if you spend thousands on a grand piano and renovate a room to be soundproof so you can play it in peace, then you’ll force yourself to play that piano every single day. For some people, it works and they go on to become renowned pianists. Most people would just forget about it but still occasionally play it because they spent so much money on it. Others would completely give up and before long, another instrument or piece of equipment will replace the piano.

Saying that you’re convinced you want to become something will essentially lock you down that path. The more you tell people about what you want to become, the bigger their expectations of you, and the harder you’ll fall when you muster up the courage to tell them you want out. In some cases, that feeling of letting down the friends that supported you becomes too much to bear, and you’ll force yourself to continue despite hating it.

It’s fine to spend time searching

Don’t worry if you struggle to find a new hobby or career to chase. There are resources like Find Your Context that can be a huge helping hand in these cases. Not only will they give you a list of options to consider, but they’ll also teach you the quickest path to reaching it. It’s handy for when you have a sudden glimpse of inspiration and you want to capitalise on it as soon as possible by learning about a new subject.

Another great way to search for your passions is to write down a list of things that you really enjoyed when you were younger. Diving back into your past to find out what made you happy is a fantastic way to inspire yourself to learn something new or walk down a different career path. Maybe you loved watching cartoons when you were younger and you want to try drawing comics or animating. Perhaps you loved watching sports and you’re still young enough to train and become an athlete. There are plenty of different choices in life as long as you’re willing to make the change.

Final Words

In short, just because you haven’t found a calling like the rest of your friends or family members, doesn’t mean you will be any less successful or happy in your endeavours. Don’t lock yourself into a career choice you aren’t sure about, and take time off to reflect on your past and find something that truly makes you happy.


Spending Money To Make Money: The Case For Universities

One of the things that many high school students do not know about their day to day lives is why the government is spending massive amounts of money on their education. Many young people will not have thought about it too much, especially since going to school is free for them, as it was for their parents, at least at the point of contact. Others will consider it a waste of money since they do not like going to school. However, the more idealistic students might think that the benevolence of the US government (which spends about $620 billion on public elementary and secondary schools each year) is motivated by humanist ideals such as the intrinsic value of an education and the beauty of knowledge and learning. However, the reality is that the government is spending so much money because it will soon rely upon the current high school generation to graduate, take up work and start paying their taxes. Without a literate, competent workforce, the US economy will completely fall apart. While learning about the wonders of science and universal truths of maths are intrinsically beautiful in themselves, this is just a happy byproduct of what is effectively a financial decision.

Some people may think that it is not worth worrying about because it is a fait accompli. Attendance at school is mandated by law. Whether they want to or not, they have to go. However, their legal obligation ends when they’re 16 (depending on the state). The decisions a young person makes after that are their own. To continue, they will have to pay for it. They have to ask the same question that the government does: is it worth it? The cost of studying at university varies depending on whether you go to a school in your state and whether it is private or not, but the average cost per year is about $33215. To go to an Ivy League school, you can expect to pay upwards of $60000. These costs are immense which is why many students are now considering the slightly cheaper option of studying remotely using the internet (like at Maryville University Online, for instance). If you look at the situation from a financial perspective, while it is an expensive investment it seems to be a good one, with graduates earning on average $48500 each year with non-graduates earning just $23900. Lower levels of education also tend to correspond with higher levels of unemployment. Over the course of a lifetime, a degree seems to pay for itself several times over.

However, not every decision in life should be motivated by money. There are lots of other reasons that going to university is a great choice. Young people, especially those who move away from home, will learn to be independent, to manage their finances responsibly and to run their own household. They will also likely meet friends that they’ll have for the rest of their lives and learn things that will inflame their imaginations and inform their character.

Going to university will always be an expensive choice but one that is certainly worth the money.