How do you prioritize your money?
1. Prioritize the most important
If the money crisis is acute, it is important that you make priorities. There are bills that you really can not postpone and these you need to prioritize first.
The rent is one such, the bill for electricity and water another. In addition, of course, you and the family must have food on the table. Once these expenses have been paid, you can go ahead and prioritize among other bills.
2. Identify changes in the long run
There are many reasons why the economy can develop in a negative direction. Some are beyond our control, but most of them we can influence ourselves.
Many people get financial problems due to unsustainable consumption and expensive loans in large amounts.
Others simply fail to make sure the budget goes together.
Regardless of the reasons for the financial difficulties, it is good to try to identify areas for improvement in the long run.
3. Do not let the debts run
If you find yourself in a precarious financial situation, it is important that you do not completely prioritize paying off repayments and interest.
Loans and installments do not disappear just because you ignore the invoices.
Rather, it is the case that the debts are growing and that you are incurring unnecessary extra costs.
If you find it difficult to pay off a loan, contact the lender to see if you can be offered a temporary solution for a certain period of time. It is usually not impossible to negotiate a solution.
4. Reduce spending
The income is often the same month after month.
So what you get into the account on a monthly basis can not be so easily influenced.
However, you can influence the expenses, and you are wise to try to reduce them. Lower expenses make your situation better both today and in the future.
5. Seek help and advice
Money is a sensitive subject and it can be perceived as embarrassing to ask for advice on financial issues. However, it is very wise to take advantage of the opportunities that exist.
A first step may be to tell the difficult situation to someone close to you who you trust.
A second step may be to contact the budget and debt advisor in each municipality.
Also, check out this video on how to manage your money with a certain rule:
How to prioritize your money and your time efficiently
Time is money, so prioritize your time!
have listed some good-to-knows, tips and advice for how to work smarter and become more efficient.
- Focus, set the clock and take small breaks to keep your body and mind in check!
- Plan the most important things first, including breaks.
- Become one with project planning: Get good tools to get an overview, structure and efficient project management.
- Get routines, and stick to them!
- Structure is a and o.
- Evaluate and adapt.
- To-do list, Make clear lists and schedules.
- Keep track of your deadlines!
- Communicate – happily, often and without wrapping it up too much.
- Get to the point. “Give and take” – dare to ask for and take help
- Believe in yourself, you have a talent that is in demand.
- Of course you will experience obstacles and the feeling of a little resistance on the road, but after rain comes …!
Learn to prioritize your time at work
We know that in the beginning it can feel like you want to be everywhere and nowhere, help and come up with solutions.
Maybe you, as a newcomer to the job, want to flag to “hello gang, here comes your new awesome colleague who is super-tagged on doing great deeds”.
But it may not always be appreciated all the time as it can be misunderstood as trying to re-direct the organization.
Yes, unless it’s your primary job of course.
Focus on your main task and make sure it is clear what your performance is measured on.
Ask your client or consulting manager if there are any ambiguities. Make sure you understand what needs to be done now, tomorrow, and in the future.
How to prioritize smarter!
Think about which tasks you have accepted, which you as a consultant are primarily there to perform.
In other words, stay within the limits of the tasks and conditions you have been given. And of course you can then do that little extra.
how to make a time budget
When you hear the word “budget” you probably think of money. Everyone knows that they should make a budget for the household finances but most people never do it unfortunately.
Even fewer would come up with the idea of making a time budget.
In the same way that a household budget simplifies and structures your finances, a time budget can be the answer to your problem of lack of time.
Why should I set up a time budget?
The vast majority of people complain about lack of time today.
We have too much to do but too few hours a day.
We want time for sleep, exercise, work, fun, family, etc. but most people go to bed with the feeling of disappointment that they have not had time for even half of what we first intended to do.
Lack of time leads to stress which in turn can lead to ill health. Of course, not all stress is bad, but when it lasts for a long time and we feel unable to influence it, it can lead to fatigue syndrome.
Unfortunately, stress creeps down with age and it becomes increasingly common for children to be stressed.
A time budget is of course not the very solution to all the negative stress that is out there, but can be an aid for those who want to see where time goes in order to be able to gain more control over it.
What exactly is a budget?
A budget is a planning for upcoming events where you want to ensure that your resources are used in the best way.
A household budget is there to plan how your income and expenses will be distributed. In this case, it is the resource time that you should optimize your use of.
In order to be able to plan something at all, you first need to create an overview of the resource that you intend to plan for.
In a household budget, it means finding out how much income and expenses, as well as what types of expenses, you have to be able to make a compilation.
In a time budget, on the other hand, you need to create an overview of how you use your time.
For what and for how long. As with a household budget, there is a lot of room for change in how you use your resource (time).
By redistributing your time between different activities, you can make sure that you prioritize what you think is important.
Prioritize among your buying patterns
I know that many financial tips are about making a budget for the year.
Since I understand that it can feel big and difficult with a budget when you may not know where the money is going, I will introduce my number 1 tip!
The goal is to quickly and easily give you control over your finances so that you get more money in your wallet all year round.
Here comes step 1!
Step 1: Prioritize among your buying patterns
This tip is to opt out of the costs that are actually unnecessary.
The three largest cost items in our private everyday finances are:
- Accommodation (interest, amortization, heating, etc.)
- Transport (costs for vehicles, petrol, insurance, depreciation, etc.)
- Food (food, drink, etc.)
I’m convinced you’re buying some things that you can do without; the coffee on the way to work, or a couple of outdoor lunches where you could bring a lunch box instead.
If you eat a lunch box instead of eating out, you save over USD 1200 / year.
If you now spend a few minutes reviewing these major cost items and find small changes to make, you will impact your costs to the greatest extent.
Can you bargain on the interest rate for your accommodation, or compare your electricity costs?
Another tip is to plan your grocery shopping and bike if you have the opportunity.
Most people end up in a situation at some point in their lives when it is difficult to pay bills and current expenses.
Such a situation creates stress and it is also natural to feel powerless. In situations where the money is not enough, it is important to try to identify exactly what the situation looks like as soon as possible and then take quick action.
Check out this video if you wanna learn how to get more things done. Time is money, you know: