Regardless of whether you work from home or have a full-time job, you will more than likely experience Financial problems at some point in your life. In fact, a recent study found that four out of five American adults will be forced to deal with economic uncertainty at least once – and, as you may know, freelance life can be more than a little unpredictable.

Anyone who has experienced money problems will understand the stress and anxiety it can create. To help you take control of your bank balance, read the following advice on how to overcome your financial difficulties.

Failing to Make Ends Meet

Many homeowners will have various financial obligations they will need to pay each month. As a result, the fear of not meeting those responsibilities can keep a person awake at night, as they may worry how they would cope if they received an unexpected bill or lost their income. With many Americans living from pay check to pay check, and with self-employed workers receiving unpredictable work, it is important to build an emergency fund, so you will have money to turn to if your car suddenly breaks down or you lose your job. You can therefore sleep peacefully in your bed each night knowing you are financially comfortable.

Debt Accumulation

A recent survey found that 20% of Americans believe Debt accumulation is their biggest financial regret. In fact, you might be surprised to learn that the average credit card debt in the US exceeds $7,000, and that excludes debt from mortgages, car loans and student loans. Fortunately, there are ways you can significantly reduce debt to take back control of your finances. For example, you can consolidate your debts into a smaller monthly repayment, which could also reduce the interest rate on individual debts. Self-employed workers should also consult a professional tax lawyer to settle outstanding tax debt, which could be a result of an incorrect tax return.

Poor Purchasing Decisions

Unfortunately, many people across America are facing financial hardship due to poor purchasing decisions, such as impulse buying or high-interest loans. While it is important to proactively reduce debt, it is just as crucial to change your money mindset. Before you make a purchase, identify if you either want or need an item or service. You must acknowledge that your financial decisions will impact your lifestyle, so you can make wider purchasing decisions in the future. If you don’t, you may experience a vicious circle of debt.

An Inability to Enjoy Money

Conversely, there are many Americans who are financially comfortable but are unable to enjoy the fruits of their labor. A study found that 12% of participants believed they are too cheap and cannot enjoy their money. Another 10% also stated they wished they could enjoy their money a little more, as they could not spend it freely. People with a healthy budget should therefore regularly review their finances, so they will know how much they have in the bank, and the bills they will need to pay, so they can identify a sensible amount to spend on themselves. So, they can combine financial peace of mind with a few little treats for themselves.

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