We’re all striving to be secure, but sometimes expenses that seem unnecessary or unavoidable can materialise out of nowhere. It’s important to know what you can do to get back that feeling of certainty. Try these tips to get out of the red, or to avoid going into it.

Keep up with Debt and Investment

When you’re trying to stay on top of your finances, it can be tempting to stop paying out for all your expenses. However, some of your expenses will save you money in the long term. Do you like to vacation with another family? Sometimes, if you spend a little more than you can afford, it isn’t a complete disaster because next time it’ll be somebody else’s turn to take the brunt of the cost. It can also be expensive to host dining or networking events, but if there’s a possibility of financial return, you shouldn’t see it as a waste of money or time. There are several ways to make smart investments that pay off, but it’s also important to keep up with any debt you have. You must do all you can to avoid unnecessary interest, without letting the debt take over your life. The best way to do this is to plan ahead financially – and stick to that plan.

Keep Expensive Hobbies in Check

Some hobbies are a part of you, so there’s no point telling you to give them up or to cut off spending on them completely. However, hobbies can be incredibly expensive – so if you want to continue enjoying them, then you have to do so sustainably. If you’re a biker at heart, you don’t have to hang up the leathers – but it might be worth checking the net for a Harley Davidson in good condition, rather than paying a small fortune to buy one new. You can reduce the cost of many expensive hobbies by getting cheaper or used equipment online on sights like eBay. It might not be ideal, but it beats giving it up completely – and if you keep your hobbies in check from an early stage, it might never come to that.

Keep a Record of Income and Outgoings

How can you expect to save if you aren’t keeping up to date with how much you have to save this month, or if you don’t know how behind you are? One of the most simple but effective techniques for maintaining financial security is to record everything. How much of your bank balance is accounted for already this month? How much is disposable income? How is disposable income actually disposable? This applies doubly if you’re responsible for a business. When you’re working out how much you can afford to spend tonight, this weekend or this month – when you’re making these calculations then you’re planning ahead, and you’re on the right track. It’s also important to keep track of incoming finances as well, since if they’re going well, then outgoings can go unnoticed. Look at every outgoing and ask yourself, ‘What would happen if I stopped paying out for this one?’ You’ll find that there’s almost always something you can trim off your expenses.