logo
flag   
Responsive Navigation
Keyword Search: in
5 Ways to Defeat Money Depression
View article disclaimer and terms

This article has been viewed 1497 times.
Ask us a Question
Name
Email Address
Comments
Code ^

 

If you're suffering from financial problems, you might have a hard time coping with everything. In fact, you may be experiencing depression where you don't enjoy the things you normally enjoy and you don't want to leave your bed, let alone your house. Finances are such a big part of everyone's life that even the smallest setback can cause discouragement. However, there are things you can do to make your financial situation better and reduce stress.

1. Start a Rainy Day Fund

If you have money saved up in case of emergencies, then you'll likely feel better about your financial situation. This saved money can get you out of many financial ruts, which can give you peace of mind in case things like this happen. The general rule of thumb when saving for an emergency fund is to save at least three months' worth of expenses that can sustain you for a while until you get back on your feet. For example, if your expenses total $3,000 a month, then you should have about $9,000 saved up for emergencies. Even if you don't need that money for a long time, it's good to have it just in case something bad happens to you financially and medically.

To create and build on your emergency fund, save a certain amount of money each month. For example, you can save $200 a month for 4 years and you'll have almost $10,000. You can also use your tax return as a rainy day fund. So when you get your taxes, put up a certain amount each year to build your emergency fund. In fact, this is a much faster way because your taxes may be a larger sum of money.

2. Improve Your Credit

Another way to improve your financial situation is to fix your credit. By seeking the help of credit fixers, you can raise your credit score. A higher credit score gives you a better chance of getting approved for low-interest loans and credit cards. This is enough to ease your worries because you'll have access to lines of credit that don't have high-interest rates. So just in case you don't have cash on hand for a certain expense, you don't have to stress out as much. You can use your credit card or take out a loan. And even if you are late on payments, you don't have to worry about a high-interest rate.

3. Pay Down Your Debt

Paying down your debt is another way to defeat money depression and make you feel better about your financial situation. By making payments to your debtors, you'll feel a lot better than when you started. You're making progress towards a greater goal - being debt-free. You can use the debt snowball method to help you manage your debt payments more easily. This method involves paying the lowest amount of debt first and gradually increasing until you've paid everything off.

4. Create an Easy Budget

Some financial experts recommend accounting for every dollar that you spend. However, that level of organization can be difficult when you're already depressed about your finances. Luckily, you can still create a realistic budget that you can stick to. You can use the 50/30/20 rule, which involves setting aside 50 percent of your income toward necessary expenses, 30 percent towards wants and 20 percent towards savings and debt payoff. This system is easier to manage because it gives you a set amount to put toward your bills, spend on things you want and set aside for saving. This way, you don't have to stress too much about what you're spending because you're allowed to spend your money on things you want and still pay for your needs as well.

Getting out of a financial depression can be challenging at first, but by following these steps, things will become a lot easier.




By Paisley Hansen
All rights reserved. Any reproducing of this article must have the author name and all the links intact.

Author:

ALSO VIEW OUR
Articles
(Total : 140)
  Title
Sort by Title A-Z
Sort by Title Z-A
-
10 Ways to Prevent Heartburn and Acid Reflux
3 Benefits of Scalp Massages
4 Signs it's Time to See Your Eye Doctor
4 Simple Lifestyle Habits That Help Prevent Illness and Disease
4 Simple Tips for Improving Gut Health
5 Natural Products That Benefit Your Skin
5 Signs Your Dealing With Panic and How To Stop The Attack
5 Tips to Getting Rid of Acne
5 Tips To Keep Your Hair Healthy
5 Tips to Reduce Stress During the Holidays
5 Treatment Options For Your Back Pain
5 Ways to Defeat Money Depression
5 Ways to Feel Better When You're Down
5 Weight Loss Hacks
6 Areas to Focus on to Achieve Health and Wellness
6 Essential Vitamins Your Body Needs
6 Reasons to Swim More Often
6 Tips for Aging Healthfully and Happily
6 Ways to Boost Your Immune System and Overall Health
6 Ways to Face Your Depression and Win
6 Ways to Feel More Confident About Your Body
6 Ways to Help Decrease Your Stress
7 Tips for a Healthy Pregnancy
7 Ways To Improve Mental Health For Life
7 Ways to Improve Your Diet
8 Health Conditions That Can Lead to Foot Problems
9 Ways to Take Care of Your Eyes
Amino Acids 101
Anxiety Symptoms and Natural Treatments
Are there Alternative Treatments for Periodontitis?
Beat Back Pain With These 5 Strategies
Beauty Tips Your Face Will Love
Benefits of a Whole-Foods and Plant-Based Diet
Best Ways to Improve Your Hair Health - Naturally
Better Nutrition For Better Skin
Boost Your Immune System With 5 Simple Steps
Chlorella: The New Boost To Your Fitness
Common Body Developments as You Grow Older
Consider these Five Exercises that You Can Do While Pregnant
Dealing with Depression
Dealing With The Different Impacts On Your Skin
Decreasing Anxiety in Your Life
Don't Shy Away From Mental Health Care
Easy Tips to Get Rid of Headaches Naturally
Easy Ways to Give Back to Your Community
Easy Ways to Improve Your Health
Eye Care Tips In 2020 To Follow
Five Smart Tips for Lowering Bad Cholesterol
Five Ways Volunteering Can Improve Your Mental Health
Foods to Help Combat Depression
Fruit of the Vine: The Best Summer Fruits to Devour
Get The Most Out Of Your Workout - Maximize Results
Give Your Workout a Total Makeover in 6 Simple Steps
Health Benefits of Doing the Work You Love
Healthy Tips to Lose Weight
Helpful Tips for Fighting Workplace-Related Depression
How a Nutritious Diet Can Make You Feel Better
How BCAA Can Help Your Muscles
How Do I Start a Diet?
How Growth Factors Will Help You Build Muscle
How Hobbies Help with Depression
How Hormones Impact Your Life
How Power Naps Boost Your Stamina
How To Cope With Food Allergies
How to Create a Well-Rounded Health Regimen
How to Deal with Digestive Issues in the Family
How to Decrease Anxiety in Your Life
How to Fix and Maintain Your Beautiful Skin
How to Get In Sufficient Vitamins As a Vegan
How to Improve Your Environment For Better Health
How to Incorporate Essential Oils Into Your Daily Eating Habits
How To Keep Your Eyes Healthy and Comfortable at Home
How to Keep Your Feet Beautiful and Healthy
How to Know if You Are in a Healthy Career
How to Maintain Beautiful and Natural Hair
How to Maintain Health as You Grow Older as a Woman
How to Make Fasting a Part of Your Life
How to Make Your House Pet-Friendly
How To Manage Decreased Levels Of Testosterone
How to Manage Stress in a New Job
How to Overcome Back Pain
How To Prevent Balding
How To Stay Healthy As You Age
How to Take Care of Your Back and Heal Back Pain
How To Use Nutrition To Become a Happier Person
How to Use Technology to Boost Your Mood
Identifying the Culprits of Low Energy
Improve Your Nutrient Absorption With Gut Health
Improving Sleep and Relaxation with Essential Oils
Incorporating Essential Oils Into Your Daily Life
Is The Technology That's Supposed To Be Helping Us, Depressing Us?
Manage Your Weight Loss Journey With These 8 Easy To Follow Tip
Natural Ways to Help Keep Your Mind Strong and Clear
Natural Ways to Help Relieve Stress
Natural Ways to Overcome Depression
New Treatments for Depression
Non Surgical Treatment Options For Knees
Recent Weight-Loss Trends That Actually Work
Simple Tips You Can Use Right Now to Improve Your Overall Health
Simple Ways To Help Relieve Back Pain
Six Ways to Beat Seasonal Affective Disorder
Skincare Tips For A Healthy Bridal Glow
Small Changes in Your Habits That Can Help Reduce Climate Change
Steps to Take After Determining You're Pregnant
Stomach Aches? Try These Simple Things
Supplements to Consider As You Age
Supplements to Improve Your Overall Health and Wellness
Surprising Ways To Get Out Of Depression
Testosterone Boosters For Men
The Importance of a Fruit Based Diet
The Importance of a Good Night's Sleep
The Perfect Workout to Fit Your Routine
The Presence of Mucus and Serious Conditions of The Bowels
Therapy and Art All in One: Dance and Healing
Tips and Advice for Handling an Injury the Right Way
Tips for Eating Healthy
Tips for Improving Your Skincare Routine
Tips for Staying Healthy During Pregnancy
Tips for Your Eye Makeup Take Center Stage!
Tips on Living With Mental Illness
Tips to Help Your Anxiety
Tips to Relieving Your Constant Heartburn
Top Reasons to Make Better Food Choices
Treat Your Anxiety Naturally
Unconventional Ways You Can Fight Depression
Ways to Fight Depressive Thoughts
Ways to Help Your Community Adopt Green Living Lifestyle
Ways To Improve Mental Health
Ways to Make Your Home a Healthy Retreat
Ways to More Conscious Living
Ways to Overcome Depression
Ways to Stay Cool This Summer
What Could Be Causing My Hair Loss?
What to do to Improve Your Digestive System
Why CBD Oil Is Good For Your Health
Why Meal Prep Matters
Why You Should Care About Your Nails
Why You Should Consider a Plant Based Diet For Weight Loss
Why You Shouldn't Trust Everything You Eat


Disclaimer and Terms. This article is the opinion of the author. WorldwideHealth.com makes no claims regarding this information. WorldwideHealth.com recommends that all medical conditions should be treated by a physician competent in treating that particular condition. WorldwideHealth.com takes no responsibility for customers choosing to treat themselves. Your use of this information is at your own risk. Your use of this information is governed by WWH terms and conditions.