You may never have considered yourself the best with money, but you likely also did not consider yourself irresponsible. After all, you may splurge once in a while, but you do not typically overspend often. However, you may have realized that you do not know as much about your spending as you think you do, and after a while, you could have noticed that you have not contributed to your savings as you should have.

Fortunately, there are ways you can help yourself manage your money better. Some of these actions may seem easy to implement, and you may struggle with others, but becoming financially literate could help you avoid difficult situations in the future.


The work “budget” may immediately have you groaning. You may not want to have to account for every penny and dime that you spend. You could prefer a more freeform approach to spending your money rather than a strict regimen. However, if you notice that your money leaves your hands more quickly than you can put it away, creating a budget may work in your best interests. You can still set aside funds for miscellaneous purchases while also accounting for an amount to put away for savings.

Consider your purchases

If you find yourself out shopping and come across a rather expensive item that you want to buy, you may not think too much about purchasing it aside from whether you have the money to cover the cost. However, even if you do have enough money to buy the item, you could put yourself in a situation where you may not have the ability to pay for other necessities later.

Keep track of your spending

If you do not think you need a budget or simply do not want to create one, you may want to try to keep up with your spending. While you may think that you do not overspend, keeping a record of what you actually use your money on could be eye opening. You may realize that you put more of an unnecessary amount of your income toward frivolous purchases than you originally thought.

Dealing with unexpected debts

If you do not know where your money really goes, you could easily wind up in difficult financial straits. You could face a sudden emergency that leaves you in need of a substantial amount of money, and when you reach for your savings, you may realize they are not there. You may then turn to credit cards to cover the costs, and soon you may end up on a downward spiral of overwhelming debt. Unfortunately, this type of situation could easily happen to anyone at any time.

If you do end up facing overwhelming debt, you could find it useful to explore your bankruptcy options. Chapter 7 may help you discharge outstanding liabilities and help you work toward a fresh financial start.