When you’re broke, living paycheck to paycheck, it can feel like you’re on a never-ending treadmill or trying to climb out a pit of quicksand. You keep working hard but your situation never changes. If only you could realize there was a ladder just in reach. That’s what we’re going to look at, finding your ladder and pulling yourself out into a better financial position.
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Start building that credit
One of the single best stepping stones you can use to build a better future for yourself is credit. Loans can help you acquire the assets that can give your net worth a boost in time, or even start a business to start making more money. If you can, start using credit sensibly to boost your score. A safe way to use credit cards is using it to make little purchases if you’re able to pay it off as soon as you use it.
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Do what you can to avoid late fees
Even if you don’t have a good score, you should be willing to use things like cash loans for bad credit in order to avoid falling behind on bills and other payments. When you’re living paycheck to paycheck, not only can you not afford another hit to your credit. You can’t afford to start falling down the spiral of late fees that can lead to a real debt crisis.
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Find what little extra you can
Everyone can budget some money aside, even when you’re flat out broke. All it requires is that you prioritize the budget first. Consider all your essential payments and look at what you have next. Take a portion of the remainder and start putting aside before you spend any money. […]