Lifestyle Hacks for People Struggling with Money

Taking care of financial struggles

Money plays an essential role in the lives of people all around the world, as it is a necessary commodity for day-to-day living. It is a driving force behind most people’s comfort and lifestyle, which makes understanding its importance even more imperative. Multiple statistics demonstrate how money is integral to ensuring individuals can live within their means and strive toward more excellent financial stability.

A survey conducted by the Bureau of Labor Statistics in 2017 showed that one of the most significant sources of household spending was housing expenses, with approximately 28% of total annual expenditures being spent on rent, mortgages, and home maintenance costs. Furthermore, food expenses constituted roughly 13% of total household spending annually over the same period. These results illustrate how money is primarily utilized to help satisfy basic needs, such as shelter and nutrition, making it a critical factor in providing comfort and security to those at home.

Another survey conducted by Pew Research Center regarding retirement savings confirmed this notion further; 31% of respondents reported having no retirement savings or pension whatsoever in 2018 – indicative that many people struggle to manage their available resources correctly when planning for their future goals. This statistic shows how important proper management and budgeting of income can be for individuals to gain financial independence. Unfortunately, many people and families struggle with this area due to lacking financial literacy or knowledge.

Fortunately, a few lifestyle changes can help them gain better control of their funds. Here are a few of them.

Becoming Strategic with Money Lending Tools

The first issue with financial struggles is that many people cannot access them. Many people and professionals rely on their paychecks and savings to get by. This means they cannot borrow money at a reasonable interest rate or secure loans relatively quickly when needed in an emergency financial situation. Fortunately, many new lending tools have been available recently, such as peer-to-peer platforms and crowdfunding sites that allow people to borrow money from investors at lower rates than traditional banks provide.

A legal money lender can provide short-term loans to individuals who need them and, if used wisely, can help them become more financially independent. The tactic ensures that the borrowed money is used for essential needs and not solely for non-essential items. Paying them off quickly and on time can also help people build a good credit history. This situation is where budgeting and setting aside some money for emergencies can help.

Creating a Realistic Budget

Having a realistic budget

The second step in becoming more financially independent is to create a realistic monthly budget and stick to it. This means setting aside money for essential items such as groceries, rent, utilities, transportation, and other necessary costs – before allocating funds to non-essential items. It also involves tracking expenses regularly and noting any changes that you can make to save more money. Additionally, by cutting back on unnecessary spending like dining out or buying new clothes each month, people can spend more of their income on saving for emergencies or paying off debt quicker.

Unfortunately, it can be challenging to live below your means if you already feel used to spending significantly more than you make. To combat this, individuals can find creative ways to save money and increase their income. Here are a few:

Side hustles

The side hustles, such as freelance work or starting an online business, will bring in additional monthly revenue. It will depend on your passion and skills.

Side business

Some people can develop a side business, particularly a boring but stable one, to ensure additional revenue.


Investments involve putting your savings into something that will grow over time. However, liquidity routes will be necessary if you pull it out for living expenses.

Second job

Unlike side hustles, holding a second job means dedicating another significant portion of your time to work. Part-time jobs involve usually menial pay, but it can be enough to help you financially.

People can also look for ways to save money with discounts on products or services, like switching to a no-contract phone plan or taking public transportation instead of owning a car. By exploring these options, people can gain better control over their finances and strive toward financial independence.

Buying Land First

Buying a non-built home first

Homeownership will likely be the most expensive purchase that a person will ever make in their lifetime. Therefore, it is essential to think carefully about the process and look for ways to save money while still acquiring something desirable.

One strategy involves buying land first before investing in a home. This approach allows individuals to slowly accumulate enough for a down payment without rushing into purchasing a property. It also provides an opportunity to save money by researching the area, looking for incentives and discounts, or finding a fixer-upper that will require a less initial investment but still deliver a comfortable living space.

You can find residential land for sale in many locations and different types of land, such as raw or vacant land, agricultural land, and commercial property. This approach allows individuals to make a wise investment without facing immediate financial struggles.

Final Thoughts

By taking advantage of money lending tools, creating a budget and sticking to it, and buying land before investing in a home – individuals can gain better control over their finances and strive toward becoming more financially independent. Implementing these lifestyle hacks can help those struggling with money become more stable and secure in their present situation while also developing a plan for achieving long-term success. With proper research and dedication, everyone has the potential to improve their financial standing – no matter where they are now.

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