Your credit card bills are creating a major dent in your savings and you seem to have been trapped in this vicious cycle. If you feel the same, then ultimately you should use a licensed loan shark or it is time to work out and get your finances on track.
Accept your finances
It is dangerous to deny the debts. You have to take control of your money or your money will start to take control of you. You need to accept your position and start taking complete ownership of your finances. Many individuals today are living with problems of debt and many do not even have enough savings to survive a month in case they were to lose their job.
Track every single penny that you spend
The first suggestion that you will get to control your finances is to make a budget and stick to it. But before you do that, spend a month to track every single penny that you spend. It will take just a month for you to gauge how much you are spending on necessities and how much on things that can be avoided.
Have a financial goal that is realistic
The goals that you plan for yourself may not be the best goals but they should be realistic and something that you can achieve. If not you are sure to lose interest and get back to where you started from. Set a time period plan and try to achieve the goal within that time fame.
Budget before you get your paycheck and stick to the budget
You will by now know where your money is getting spent each month. Set a budget now and stick to it. Use the number that you got from your previous month to make a realistic budget for the next month.
Luxuries should be kept aside
Luxuries are something that you cannot do without. But there is a fine line here between what could make you save and what could put you in debt. Instead of going to restaurants every weekend, prepare something at home. Limit your outings to just one or two a month.
These simple changes can help you change your finances completely.