4 ways to avoid Financial Setbacks

1. Save

One of the best ways to avoid financial setbacks is to save money. When you have an emergency fund it is helpful to pull from it when you are in need. We all will have unexpected finances that come our way, the key to avoid a setback is to save your money over time. Living from paycheck to paycheck is not only stressful but it is beneath God's will for our life. 

If you feel like you have no money to save you have to figure out a way to cut your spending.  One tip I can give is look at how much you spend on food. If you are like me you like to eat. If you are buying lunch every day you are spending easily $35-$50 on food a week. And if you are buying breakfast, lunch, and dinner you are possibly spending double that.  A easy way to save money is to do meal prepping. Bring your lunch from home everyday and know what you want to eat for your daily dinner. This will reduce your expenses and you will be able to save more.

2. Do not emotionally spend

Emotional spending will create financial setbacks. Rather you have the money saved or you are buying on credit, emotional spending will contribute to your financial setbacks. It may not seem like it at the time. Remember, just because we have money to spare doesn't mean we have to spend it.   

3. Do not let everyone "borrow" money

People will borrow and never pay you back. Which causes financial setbacks. If you are always taking money from your savings to help others that will never pay you back that is a financial setback. If you are supporting someone that is taking away from your finances, causing you not to save that is a financial setback. It is OK to say no. Or get yourself fully together so you can help yourself and whoever else you choose.  

4.) Plan your financial spending 

I am a firm believer of rewarding yourself or treating yourself. I am not the to tell you what not to buy. But I will encourage you to temporary let go of some things to grow into a better situation later. Only you know what you should of should not have. If you are having a hard time saving money you should definitely rearrange your budget. 

One thing that helps me stick to a budget and a financial plan is rewarding myself every now and then. Everyone's reward may look different depending on what you need at the time and your financial level. Someones reward may be to take a vacation once a year, and someone else may have a vacation once a quarter. Someones reward may be to buy something nice for themselves every month and someone else may buy themselves something every other month. Do what works for you. Just make certain you plan your spending, plan your vacations, plan your outings and stay within the budget you create. 

Life and finances go hand and hand. When your finances are in order you can live a quality life. When your personal life is in order you can successfully build wealth. Although money isn't everything, money do answers all thing.

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