The 3 Best Ways To Get Your Personal Finances In Order

With inflation running wild and the cost of goods going up due to supply chain issues, it is becoming a big challenge for people to keep their finances together. People that were already bad with their money are having an especially tough time getting by. It is getting to the point where people have to make some tough decisions about where they spend their money like deciding between medication and groceries. 

During times like these, it’s very important to take action to be able to get by. You can even thrive during tough times with the right financial strategy that can see you grow your funds as the years pass by making good habits that stick. In this article, we will go over several ways you can improve your financial situation and become more resilient.

1 – Invest in some cryptocurrency

Some people see this type of investment as being very risky. It isn’t without reason. There have been frequent crashes in the cryptocurrency value over the years. However, there are some circumstances that make the value rise. One of them is global uncertainty as some people lose access to their bank accounts or the fear that inflation will erode the value of their savings. 

This means that if you are wondering how to buy Shiba Inu in Canada then this is a good time to find out and get on board the cryptocurrency craze. The values are expected to rise considerably over the next year or two. 

You have a couple of options as far as strategy goes. One is to buy in now without planning to keep your money in cryptocurrency for very long. Wait until it seems like you are happy with whatever gains you’ve made and then cash out. The other is to hold on for longer and wait out any dips as they come. In a couple of years, you may have a considerable profit waiting for you if you choose the right currency and strategy. 

The key thing to do is to only invest a small amount of money that you can afford to lose. If you do decide to sell at a loss then the lost money won’t hurt you. Or, if you need to hold on longer than you had anticipated, the loss of access to the money while you wait for a recovery won’t put you in a bind. 

2 – Get a side hustle

One of the best ways to get through a tough financial crisis is to find a way to make more money. A side hustle is something that most people turn to. Some people just take on a second job on the weekends for example and do it until they recover from the financial problems they are facing. Others find something they love to do and enjoy the extra money as a bonus. 

There are two types of hustles that you should be looking into. One is online which can be done in your spare time. The other is one in which you physically go somewhere to either work or perform some kind of service. There are so many ways to make money online that it is the most logical way to make extra money since they can usually be done after work or when you are on some downtime. 

You could start an affiliate marketing site, for example, and end up making a passive income at some point if you do things right. It takes a long time to get things working where you’ll have an income. The nice thing is that most of the work is upfront and can be done in your spare time and it will keep making money for years even if you work on it infrequently later on. 

You can always do things like Uber or Uber Eats in your spare time as well without having to commit to a schedule for a part-time job. Since you are not an employee then you can decide when you want to work and for how long you like. 

Then there is the possibility of performing a service in your spare time. For instance, you could start a window-washing service and go around town making money on the weekend. 

3 – Get frugal

A lot of people find themselves in financial difficulty simply because they spend too much money on things that they don’t always need. There is a way to be frugal and not feel like you are sacrificing much when it comes to making sure your needs are being met. 

For instance, instead of going shopping and then coming away from the store with far more things than you planned to buy, you can look to purchase just the things you need online. Have some discipline and you can save a lot of money by avoiding those kinds of unnecessary purchases. 

If you end up doing the same thing when shopping online then make it a habit to add the things you need to your shopping cart and then log out. Make it a point to wait 24 hours to finish the purchase so you have time to think about if you really need everything in the shopping cart. 

You should also be looking to buy things second-hand when possible. Looking online can often help you find items that you need that are almost as good as new and at a fraction of the price you would spend for them. 

If you’re in the market for a new car, then it pays off in a big way to go for a used car. In many cases, you can find a certified used car that still has a warranty and is in almost new condition. It will be just like owning a new car but with a much lower car loan to pay every month. If you take good care of it and keep it maintained it can last you just as long as a new car would.