5 Ways To Make Your Life More Financially Stable

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There’s no one right way to handle your money. So long as you’re thoughtful and responsible, there’s room for flexibility in managing your finances. Some financial habits are more sound than others. Some people find that investing through stocks, bonds and Commodities Trading is a great way to find financial stablity, while others pay take on side hustles.

Yesterday, I wrote a post about the longterm effects the pandemic has had on our lives and one of the things I mentioned was finances. I got a lot of comments mentioning how much the prices have increased and how incomes have not increased much. I absolutely agree with that and therefore decided to share some ways I have found that can help you be more financially stable, even with the increasing prices.

So, here are some financial moves you can make to give yourself added security and stability:

Set a financial goal

Make a list of the most important things to you and prioritize them in order of importance. Then, once you have this list, write down how much money it will take to achieve each goal and when.

Don’t worry about how long it takes those around you or compare yourself to them. It’s just about setting goals so that when times get tough financially or emotionally, something positive for you is centered around finances rather than negative emotions surrounding debt or lifestyle choices that are no longer affordable.

Make a budget

Budgeting isn’t complicated—you can use an online budgeting app or even track expenses on paper. A good rule of thumb is that if it’s unnecessary for survival, don’t spend it! For example, if you’re spending $50 per month on Netflix, maybe there are other streaming services or activities that cost less and provide the same enjoyment? Or maybe there are ways of cutting back on those kinds of expenses while still keeping those subscriptions active? The key here is finding a balance between spending money on fun things and living within your means not to overextend yourself financially or risk getting into debt.

Prioritise paying off debt

If you have debt, it’s a good idea to prioritize paying off the highest interest rate debts first. For example, if your credit card balance has a 23% APR and your student loan balance has a 4% APR, pay off the credit card debt first so you can achieve financial stability faster. You’ll save money on interest payments by doing this!

You should also consider whether you want to refinance your car loans or mortgages at lower interest rates. This will depend on what kind of car/home you purchased, how long ago it was, and whether refinancing would save money (that depends on factors like how long until your next payment is due). If refinancing sounds like something that might benefit you financially in the future, consider doing some research before committing yourself to any contracts with lenders who may offer better deals than those currently available through other lenders.

Start saving

We all know that saving money is essential, but when we look at what we spend our money on, it can be hard to see where or how much extra cash could be saved.

The good news? Saving money doesn’t mean depriving yourself of every new gadget and game. There are so many fun ways you can save money—and not just by cutting back on lattes or going without designer shoes. You can still treat yourself- just do so wisely and make sure you’re putting some money aside each month.

Be responsible with your credit cards

Remember, you are responsible for all charges on the credit card. In addition, you will pay extra interest charges if you don’t pay off your monthly balance.

Credit cards are a great way to build a good credit history. You’ll be able to get better rates on things like car loans and mortgages down the road when you have a good track record of paying back what you owe. But if you can’t afford it now, don’t use your credit card to buy something unless it’s an emergency, like an unexpected trip or in an emergency situation.


I hope you found these tips helpful. I’ve talked about finances on some older posts but I thought I would share a more updated post today.

Is your life financially stable? What are some ways in which you make your life more financially stable? Do you do any of the things I mentioned above? Let me know in the comments below because I would love to hear your thoughts on this topic.

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73 responses to “5 Ways To Make Your Life More Financially Stable”

  1. Interesting. Of course we also have to consider that sadly, there are a lot of people out there that cannot afford Netflix or credit cards. Sound advice and impossible for some people who are just living pay cheque to pay cheque and so it gets complicated. …and that’s why life is hard. 😉

    1. Yeah I absolutely agree. There are definitely people who are forced to live paycheck to paycheck but for those that aren’t it’s best to save for the future. Life definitely is not easy 😔

    2. I live pay check to pay check and I do have a budget. I even ration the food in my home to cut expenses. I save vegetable seeds and hope they grow into food. According to the government I make to much money for government assistance.

      1. Good for you. Lots of people find themselves on the streets because they aren’t able to afford to pay rent and eat food. Food banks are lined up. So, if you’re managing to do both, then you are ahead of the game!

  2. I don’t spend a dime on Netflix. I have access to it for free – it’s a joined family account. And if I didn’t have access to it for free, is wouldn’t have Netflix.

    As for those people who live paycheck to paycheck…. My question is why? Why are you doing this? How did you get there? Chances are these people are living ABOVE their means. There. I said it.

    I’m a Millennial and I do not live paycheck to paycheck. I live below my means. I watch my bank account grow and I work for my money. I don’t necessarily come from a “more privileged” background either. My parents told me that if I wanted nice things I would have to work hard for them. A dollar is a dollar. If people waste their dollars on useless things (like Netflix, for example… maybe it’s not useless to others) then that’s their doing. They need to take responsibility and get real clear with themselves about where their dollars are going. If they think they can’t cut back, then they aren’t looking at their finances closely enough. This is reality.

    1. I used to have a Netflix but now I use a friends.

      I think some people don’t have a choice but to live paycheck to paycheck depending on their job/income. Especially with prices rising as they are. I do however think that in many cases there are ways to still save a little though. It’s the little things like you said. Every dollar definitely counts. Even if you can save a few bucks a month it adds up in the end.

      1. I was in frustrated when I wrote that. I’m just really sick and tired of people complaining but what’s worse is victim mentality. I see it everyday. On social media. On blogs. It’s everywhere.

        If they don’t have a choice that’s one thing. I agree that despite circumstances, it’s still possible to cut back. The people I have seen living paycheck to paycheck aren’t willing to do that work and that’s what frustrates me. I know that everyone’s situation is different – It’s one thing to have no money and then it’s another to actually have no money. Buying Starbucks everyday, eating out everyday, subscribing to Netflix… these are all wants, not needs.

        1. Yeah I see it too and even in real life. A friend was complaining to me about how she was too broke to pay rent and then spent $200 on a haircut…

          Yes, I totally agree with you. I have also noticed that sometimes people live pay check to pay check because they are wasting the money on things they don’t need. In a perfect world, we would be able to buy whatever we want but like you said this is the real world. You have to be smart with your money.

          1. I know I have the unpopular opinion so thank you for agreeing with me! You nailed it. That’s exactly what I was getting at 🙂

            1. It’s an unpopular opinion but not untrue in a lot of ways.

  3. Thanks for the tips! If I may offer a suggestion, according to some financial advisor, paying off your lowest debt could be more beneficial. Your main goal is trying to have more cash flow coming in. Let’s say you have a $300 credit card debt, in which you are paying $25 a month or a $1000 credit card debt with 29% interest, it will be quicker for you to payoff the $300 first, then use the $25 to add to your $1000 monthly payment. Just some thoughts. Hope this helps.

    1. That only makes sense if the $300 credit card debt has a greater than 29% interest.

    2. That’s very interesting. I didn’t think about it like that. Thanks for the suggestion!

      1. But I think there is another benefit to paying the lowest debt first irrespective of the interest rate — the psychological motivation that comes with making progress. I followed this “snowball” method, and it was great. Once you gain momentum, you want to keep going and paying the next debt. The math is the easy part — it’s the behavior that’s hard to change.

        1. Hmm that’s interesting. Makes a lot of sense actually. Feeling like you accomplished something makes you more motivated to pay off more debts.

  4. Thanks for sharing some great tips, I’ll share your post with my friend who has some dept issues.

    1. Thanks, I hope this helps them.

  5. I love how you gave example of Netflix. Little things matters and little adjustments can actually help us.
    A very useful share Pooja. Thank you so much for sharing.

    1. Yeah, I definitely think those little things matter a lot. We feel like they’re just small costs but they end up adding up to quite a bit.
      Thanks for reading and commenting.

  6. So helpful!

    1. Thank you!

  7. Good tips to help people. YEAAAA

    1. Thank you!

  8. Nice post


  9. Or- marry a rich writer that owns a paper mill!! Just saying… 😉 sorry I couldn’t help myself!!

    1. Well you’re not wrong… 🤣

  10. Greate post

    1. Thank you

  11. I agree with saving, it is good to actually save and not squander all the money.

    1. Absolutely, if you can save you definitely should.

  12. I try but alas😰😰

    1. Unfortunately, it’s not always possible 😞

  13. Thanks for sharing those tips! I like using a budgeting app or just checking my bank account online, Mint, to keep track of my expenses and it’s nice to see how much I spend each month. It’s important to see where it’s all going to. I don’t really buy subscription services, and I try to avoid buying stuff I don’t need. I like how you mentioned making a financial goal, ex: I’m saving to buy a car.

    1. Thanks! Yeah it’s always a good idea to monitor your accounts and see where your money is being spent. And setting financial goals is great too even if it’s smaller ones.

  14. budgeting and prioritizing are crucial. I’m short on both right now. yikes! 😱

    1. Haha don’t worry it’s never too late! 💕

      1. i’ll get on that!! 💖💖

  15. Some of these I do already anyway, but if there was one decision I ever made that I don’t regret, it was never having a credit card. My Dad always used to say “if you can’t afford it then you can’t have it”, and I’ve stuck to that philosophy. What he meant by that was that I had to be able to afford it with money already in my bank account, not on a loan or credit card. I write a budget every year when our annual statements come out, and if I need money for something and I don’t have enough then I sell stuff, go without other things and save up. I’m not rich by any means, but the richness that I do have I believe comes from the relief of not having debt collectors chasing me. My father-in-law always seemed relaxed and care-free, right up until he ended up in court owing almost £15,000 (about $18,400, 2.2M Kenyan shillings) and nearly lost his home because of it. That was enough to make me realise then how important it is was not to live beyond your means!

    1. Yeah that’s a good philosophy to live by when it comes to your spending habits. I’ve seen people lose a lot because of debt and I don’t want to be one of those people ever so I always try to do the same. I rarely use my credit card unless it’s absolutely necessary.

      1. Oh me too. We have a programme here in the UK called “Can’t Pay? We’ll Take It Away!” amd it’s basically bodycam footage of bailiffs going to peoples’ homes and demanding payment or confiscating goods. They’re always polite (and sometimes even quite compassionate) but they’re always firm about it too. I suppose the moral of it is that nobody is entitled to what they can’t afford, no matter how much they want it. It sounds horrid but logically I suppose it makes for a fairer world. Yeah I don’t have a credit card but I keep £30 in my phone case for emergencies. It sounds daft but it’s come in handy a few times, like when I’ve left my debit card on the side and it’s a long walk home lol

        1. Yeah I always have some extra cash with me just in case too. It really does come in handy sometimes.

  16. Awesome tips!

    1. Thank you!

  17. Thanks

  18. Trust me this works! After my second divorce I lost everything financially, hubby brought us through bankruptcy. In order to rebuild my credit I bought furniture on credit, but that meant I had debts to pay off. I created a spreadsheet in Excel where I listed all my expenses and debts, and created a payment system where I divided all my monthly payments into 2, to be able to pay something on every account, each paycheck. When I paid off my lowest debt I took that payment and applied it to one or two of my next lowest debts.

    I found it to be very empowering to be able to pay off the lowest debts first and see the list gradually shrink. I felt lie all my hard work was paying off. Over the course of the year that it took me to pay off the debts, I was rebuilding my credit.

    When the last of the debts was paid off, I continued to pay the same amount, but I put it into a savings account instead of increasing my spending in my day-to-day life.

    Living paycheck to paycheck is difficult, especially in areas where the cost of living is higher. When people have very low paying jobs, no amount of stretching the dollar will afford someone a higher standard of living, and life will be financially precarious.

    1. I’m so sorry to hear you went through that but you were really smart about it. And it’s great you were able to pay everything off and now save that amount. It’s so important to save if and when you can because you never know when you’ll need it.

      1. I’m nearing retirement age and having been wiped out financially I need to think about how I can take care of myself! I’m hoping to save enough for a down payment for a property that I can live in and rent out for travelling nurses.

        1. Yeah that would be great. I really hope you’re able to save that much!

          1. I don’t have the earning power to save everything I need for retirement so I’m trying to be smart and save for a down payment for an income producing property. That would leverage my money.

            1. Yeah that is definitely smart. It makes more sense for you than just saving money.

              1. Right?! Money depreciates but creating an income stream is more doable.

                1. Exactly, investing your money well can do wonders.

                  1. Right?! I’m learning this!

  19. Yes, you are soooo right. Don’t use your credit card that much. It only gives you a moment of pleasure and a lot of anguish later on when you look back, knowing you have spent too much. I had one or two years spent a lot of money with my credit card, but since then, I’ve learned my lesson.

    1. Yes, exactly. I rarely use my credit card and only use it if necessary. It’s easy to spend too much when using your credit card since you don’t have to deal with it till later.

  20. I was actually planning on setting a financial goal for the remaining half of the year. This gave me a head start. Thank you🙏🙏

    1. That’s wonderful. I really hope it works out and good luck.

        1. You’re very welcome

  21. We should spend money wisely. Some people spend money on unnecessary things and some people spend money without thinking about their future and when they need money, they don’t have it. We should save money every month. As Warren Buffet says ‘Don’t save what is left after spending; spend what is left after saving’. When everyone leaves you, money becomes a friend in bad times.

    1. Yes, we should definitely try to set some money aside each month to save. You never know what’s going to happen tomorrow and when you might need some extra money.

  22. […] 5 Ways To Make Your Life More Financially Stable […]

  23. Thankyou for a very informative Blog. I think we can easily forget That we often waste money on things that have no importance then complain when we struggle. As the Old English saying goes …Take Care of the pennies and the Pounds will take care of Themselves!!!

    1. Thank you and yes absolutely!!

  24. I recommend YNAB for a budgeting app! The subscription is worth it 20x over.

    1. Thanks for the recommendation!

  25. Excellent advice! Thanks for sharing this.

    1. Thanks so much and my pleasure!

  26. There is no one right way to handle finances and i agree with that

    1. Yes, absolutely. It’s different for every person.

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