Have you had a moneymare or maybe you’re currently having moneymares? What in the world is a moneymare you might ask? A moneymare is a nightmare about money or about your financial situation. When you have debt or rather more debt than you can handle, you might experience moneymares. You wake-up anxious and worried that your finances will not resolve. Perhaps, you have a hard time falling asleep because you’re worried about your finances. Then, when you do fall asleep your dreams become moneymares.
Are you relating to this? How do you overcome your fears, so that you can escape the moneymares? You need to take control of your finances. If you’re married, you and your spouse need to work together to get out-of-debt. Maybe you have plenty of money coming in, but at month’s end you’re wondering what happened to it. Why isn’t there any money going into savings, into retirement, or into funding your children’s college education? Take a hard look at where your money is going. What are your monthly expenses? Are they really necessary? Are you able to cut back on your expenses? If not, you might need to get additional income coming in to help you cover your debts and expenses.
The best way to find out what monthly income and expenses you have is to do a budget. Then, analyze your budget cutting out what is unnecessary or cutting back on some categories to help you fund other categories. You might consider selling your second car in order to eliminate the car payment, car insurance, car repairs, gas, and other things related to that car. However, you still need to ensure that you have money to cover public transportation or the extra gas you’ll need for the other car.
Once you see how much money you spend each month and how much money you have coming in each month, you’ll have a clear idea of where you need to make changes. Then, you can attack your debt. This is the way to being able to eliminate your moneymares. You won’t be worried about your debt or your finances.