If you are sick and tired of seeing your bank balance in the red, and you are ready to do something about it, then you should read every single word in this article.

Most people don’t have the first clue how to manage their money, which is why they always find themselves in financial turmoil.

It doesn’t have to be this way though. Follow the 5 easy steps below to improve your situation, and even change your life.

Be honest

Ultimately, your situation will never change if you can’t be honest with yourself. Look at the areas where you are overspending, and then commit to making a change. It really is that simple.

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Thinking about taking an online course soon? If so, then you should be aware that you can also get a free laptop.

All you need to do is find a list of online colleges that give you a laptop and you can save yourself a lot of money.

Start an emergency fund

The best way to manage your money is to always be prepared for the worst case scenario. As an example, if you get hit with an unexpected bill, then would you be able to cope? Or would you have to seek out a payday loan, which would only make your situation worse?

With this in mind, start an emergency fund, where you put in a percentage of your income every month. In no time at all, you will be fully prepared for anything that life throws at you.

Create a budget

The obvious way to manage your money is to create a budget. Unfortunately, most people never do this, which is why they have more money going out than coming in.

Spend an evening writing down all of your income and expenses. Once you have done that, get rid of all those unnecessary expenses, so your monthly budget starts to look financially healthy.

Only use cash

How many times how you gone to the shops, only to spend way more than you intended? Let’s face it, the main villain here is credit cards, as spending on your plastic can quickly spiral out of control.

For this reason, you should make it a new habit to only use cash. Draw out a certain amount each week from your bank, and don’t spend a penny more. If you can stick to this plan, then managing your money becomes a piece of cake.

If you are one of the millions who was ripped off by the banks with dud PPI policies, then you might be considering using a PPI claim company?

Let’s face it, trying to claim the money back on your own is like trying to get blood from a stone. The majority of banks are sneaky, devious, and totally self centered, which means they will do everything in their power to give you the run around and stop you from making a claim.

With this in mind, you should consult with a PPI claim company as soon as possible. These companies are not scared of the banks, and they know exactly what to do to stop their little tricks immediately.

The first step is to call a PPI claim company and speak to one of their advisors. This will give you the chance to explain your situation and get valuable advice on the best way forward. They may even send you a ppi claim form in the post so they can get more information about your case.

Once you are happy to move forward, then the PPI claim company will be able to do all of the work on your behalf. This makes everything a lot easier, as you no doubt lead a very hectic lifestyle and don’t really have the time to do all of the grunt work that goes into making a successful PPI claim.

Overall, choosing a PPI claim company to take on your case is a very good choice. However, there are some things you need to look out for.

Firstly, the industry average fee for a PPI claim company is 25% of the total amount. For example, if you win £6000, then the claim company would take £1500. If you encounter a company that wants a higher percentage than 25% you should stay well clear and look elsewhere.

Secondly, be extremely cautious about any company that requires money upfront. Ultimately, a legitimate PPI claim company is more than happy to work on a “no win, no fee” basis, which means they only get paid once they win your case.

Lastly, always make sure that you are dealing with a company who are registered with the Ministry of Justice. This is required by law, and if they are not registered then there is a high chance that they are a scam company and are out to take you for a ride. Stay well away.

It doesn’t matter where you live in the world, your finances are an important factor.

Seriously, do you really want to spend the rest of your life living paycheck to paycheck, always struggling to pay the bills, and then retiring with a negative net worth?

If you answered “no,” then congratulations, as you have just stumbled on a very important article.

Quite simply, with the information below, you are going to learn how to take control of your finances and never look back.

It starts with having priorities…

Unfortunately, the majority of people never actually prioritize their spending. This leads to wasting the majority of their income, which means they fail to get themselves out of the financial rut.

Don’t make the same mistake. And if you are currently making this mistake, then change your habits right away. Decide what is essential, and then cut out the rest. Be ruthless. If you can’t do this, or you just don’t want to do it, then your finances will always end up controlling you.

Bad credit be gone…

There is a silent assassin waiting in the shadows of every town and city in America. It goes by the name of bad credit, and millions of people are on the hit list.

Once the bad credit rot has set in, then you can forget about getting a loan, a mortgage, or a credit card. Not only that, but if you want to start a business, then a business loan will be out of the question.

Fortunately, you can fight back. Conducting your own credit repair is actually easier than you think, and in only a few short months, your credit score could be back where it belongs.

The cycle of debt stops now…

Listen, you will never be able to take control of your finances if you are carrying around huge amounts of debt. Instead of saving and investing your money for the future, any cash that goes into your bank will go straight back out and into the hands of your lenders.

With this in mind, the sensible choice is to stop applying for payday loans and high interest credit cards, and start chipping away at the money you already owe.

To get your debt paid off in the shortest amount of time possible, it’s a good idea to work out ways you can increase your income. Ask for extra hours at work. Get a second job. Do whatever it takes.

Have you just been refused for a car loan or mortgage? If so, then there is a good chance that your credit rating is currently suffering.

All is not lost though, as there are many things that you can do to get your credit rating back on the right track.

The best way forward is to hire a credit repair company, who can do all of the hard work for you, and use their many years of experience and knowledge to repair your credit in the shortest amount of time possible.

Here are 5 tips for hiring a credit repair company:

Look for reviews

In order to find a trustworthy company, it’s a good idea to look for reviews from independent third-party websites.

For example, you can find many lexington law reviews by doing a simple search in Google or Bing.

Check with the Better Business Bureau

As well as reading reviews, you should also check with the BBB to find out what their track record is. The BBB assigns every company with a rating, and will also list any disputes from consumers over the last 10 years.

Talk with customer service

The best way to find out if a company is legitimate, is to talk with their customer service team. If they are knowledgeable, friendly and helpful, then you can feel confident in taking the next step.

However, if you find it hard to reach them by phone or email, or if you find them rude and arrogant, then this is a sure-fire signal that they can’t be trusted and are not a company you would want to do business with.

Read the small print

Before signing any contracts, it’s essential that you read the small print so you know exactly what you are signing up for.

Many people have been stung by hidden costs that only rear their ugly head a few months down the line. Ultimately, everything should be clear and simple, which means the credit repair company is upfront about the exact fees that are required.

Don’t feel pressured

Unfortunately, there are some credit repair companies that employ aggressive sales people, who will then proceed to call your home at all hours of the day trying to give you the “hard sell.”

If this happens to you, then don’t feel pressured to give into their pitch. Instead, just simply hang up the phone, and if they continue calling, then report them to the relevant authorities.

If you have recently been awarded a payout, maybe in a lawsuit or insurance claim, then you may have heard some talk of a structured settlement.

A structured settlement is usually offered when the amount awarded is large, which means you will receive the money in installments over a set period of time, rather than in one bigger payment.

This can happen in a variety of different ways, with monthly payments being the most popular option, until the entire balance is paid off in full.

If you have just been awarded a structured settlement, but don’t want to wait around for years to come to get all of the cash that is owed to you, then one option that might be worth looking into is selling your structured settlement.

There are many cash for structured settlement buyers out there, which means you should have no problems at all in getting your hands on the majority of money you are owed, rather than waiting around for years on end.

As an example, if you have just been awarded $100,000, but the structured settlement is only $2000 a month, then it is going to take you over 10 years to get all of the money.

However, if you were to sell the structured settlement to a buyer, then you might be able to get around $75,000 into your pocket straight away. Of course, you wouldn’t be getting the full amount, but at the end of the day, if you need a lump sum of money to pay off debts or bills, or you want to make a major purchase, then this is definitely an option worth exploring.

It’s a good idea to get as educated as you can on the subject of structured settlements, in order to avoid making any hasty decisions. Luckily, there is a wealth of information on the internet that covers all aspects of receiving and selling structured settlements.

Ultimately though, the majority of people who are awarded structured settlements, decide to keep them, as they do offer a range of benefits.

For many people, just having the security of a monthly payment paid directly into their bank account every month is a real financial life saver. If you have struggled to keep on top of the bills in the past, then imagine getting extra money coming in like clockwork each and every month.

Sure, it might be tempting to sell the structured settlement and get a load of cash straight away, but once that money is gone, then it is gone forever.

Keeping control of your finances is not always an easy task. Rising costs and a tough economy has left many people struggling to pay for the basics, which means it’s all too easy to find yourself with a negative bank balance and a mountain of debt.

Avoid years of hardship by following these 5 essential finance tips…

Tip 1 – Stay away from high interest loans

Things such as payday loans and loans for bad credit have become increasingly popular in recent years. However, they come attached with very high interest rates, which can make paying the money back extremely difficult.

With this in mind, it’s a good idea to stay away if you can, and look for alternative sources of funding. For example, you could get a small loan from a family member, or even sell some items that you own.

Tip 2 – Save money every month

Smart people always save a portion of their income every month. While this can seem difficult at first, especially if you are on a tight budget, with a little bit of tweaking you should be able to save at least 10% of your income.

Within 12 short months you will have a nice chunk of cash stored away in a high interest savings account, which will make your financial future look a lot brighter.

Tip 3 – Watch your credit card spending

One of the major financial downfalls for many people is credit card spending. In a nutshell, spending too much on your credit card can put you at a financial disadvantage for years to come, as you struggle to pay everything back.

For this reason, it’s a good idea to get rid of your credit cards if you can. Ultimately, they offer too much temptation, and it’s just so easy to take them out shopping and then keep spending money you don’t really have.

Tip 4 – Buy a used car

If you are in the market for a car, then you should avoid the dealership at all costs. Brand new cars quickly decrease in value, which makes them a poor investment.

Instead, it’s a much better idea to buy a used car privately, as there are some great prices to be found which means you can save yourself a bundle.

Tip 5 – Invest

If you really want to secure your long term financial future, then you need to start investing as soon as possible. For example, gold is very hot right now, and smart investors are buying it up in their droves.