6 Tips To Get Out Of The Rut Financially

We all get stuck financially sometimes, but what can you do to get yourself out of a rut, especially one where money is involved. 

I was a single mother with 2 children, a mortgage I could just about afford, and a job that didnt pay me enough.  In the early days here are some of the things I did to help me get through the financial maze. 
It was one of the things that got me anxious about whether I was able to be a good parent, if I couldnt keep the roof over my children’s head. 
I was also looking at ways I could earn extra money, but stay at home to be around them. 
It is a very stressful and worrying time to have a lack of money to do the basics like pay bills, and purchase food.  Here I was in that situation, as my back was against the wall a few times.  I was just too stubborn and proud to ask for help. 

1. Get Help from a professional

If you are struggling with your finances, now is a good time to get a review done of your outgoings and income.  Having a new fresh pair of eyes on the situation can help you save where possibly you can see.  If you have a friend who you can trust, or go along to the bank, the staff there are happy to help you review your finances.
Wise up with your finances.  A great resource for me was Smart Women Finish Rich – David Bach a trusted financial expert.  You can go to his site Davidbach.com for some great tips on finance. 

2. Review / Reduce your outgoings

This is something I had to do when I lost a big chunk of income in my life.  I found going through my statements a really good way to see what I was spending money on.  It helped me to cut down on direct debits I ‘forgot’ about, the old gym membership that was ticking away each month, but I was not utilising it, other direct debits I totally forgot and for which they were not adding any value.  Reduced my Sky packages, and reviewed my telephone line deals, mobile deals, insurance deals.  I really started looking at all the ways I could save money and reduce my outgoings.

3. Put Savings Plan in Place

It doesnt matter how small your savings plan is, start by putting one in place now, even if it is £10 a week.   You can increase thisd when you get more income, but having something put down as a rainy day helps.  You can find some great savings plans online, just make sure you do the research. 

4. Look at your debt

When I looked over my 3 credit cards, and the size of the minimum repayments, this freeked me out. 
I took advice from the Money Supermarket site and looked at the credit card that had the highest interest rate, and began to include additional payments to pay this off first.
With the other two cards, I just kept paying the minimum amount (pro tip: set this up as a standing order so that you dont get charged for missed payments) on them until I paid off the card that had the highest interest rate. 
Once card 1, was paid off (took me 18 months), then I looked at the next highest interest rate and paid the same amount I was paying for the previous card  plus a bit extra to repay the second card down, this one I managed to reduce within 8 months. 
The final card I had more money due to not paying for the two previous cards, so this one I paid off quickly.
You can also call your card holders and negotiate a payment plan with them while you pay off for the other cards.  You can find out more by visiting here   www.moneysupermarket.com

5. Review Your Job Situation

If your current job is not paying you enough, then it it time to look for one that will.  Too often we under value ourselves, and our abilities. I know I did, until I was forced to upgrade due to ‘needing more’
I looked at my current skill set, and reviwed my Resume.  I then applied for other higher paid jobs, and ensured I upskilled myself at the same time.  I went into interviews with an air of confidence about me, and yes I got a higher paid job, which helped considerably. 

6. Look at Creating a Plan B

I didnt have a Plan B for if my partner suddenly walked out, that I could live independently without the salary. 
So, I quickly realised that I needed to put a Plan B in place. 
I was looking around to see what I could do to build residual income on the side, without jeopardising my full time job and this is where Network Marketing came into my live.
There are not too many areas that can generate residual income for you outside of
a) becoming an author (publishing rights)
b) becoming a produced of music (music publishing rights)
c) becoming a play right etc… you get the drift
Yes they all receive royalty  for writing, producing something ONCE, and if it is played, read, sold, they get paid over and over again.  That is residual income!

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If you are not a natural seller, what can you do to be successful at it?

I used to worry that I wouldn’t be good at ‘selling’ things in my network marketing company when I first started out.  However, because I was

passionate about the industry I was in, I found it easy to talk about the products to others.  And guess what?  The more I shared stories about the product and how good it was, the more ‘sales’ I received.

What I learned on this journey was that facts do tell people about the products and the industry you are in, and yes it can be impressive, or even dull in most cases, but the real stories about people using the products is what gets others interested in wanting to know a bit more.

Many years ago a Jim Rohn book I was ready said we should be good at telling stories.  He was a great story teller himself.  He had a way with words that captivated his audience, made you feel like you were the only one in the room, even though there were hundreds if not thousands of others.

Jim Rohn  always advocated, Facts TELL and Stories SELL!

So, that always stuck with me, be a good storyteller.  Let’s face it, many of us go by word of mouth these days, if you were getting your kitchen done, and a friend new of someone who recently go theirs done, they would automatically refer that person to you, and nine times out of ten, you would follow through with that and get a quote.  When, in Network Marketing the method of making sales is identical.  We are a referal marketing industry and alot of people you talk to are not going to join your business, well not first off anyway, but thats ok, you have not sprouted two heads or scales.  As for referrals, always always ask for referrals.  As them who do they now is ready to start up with you now.

Look at Michael Jordan, he wasnt a natural basket ball player, he just had the height, but he put in alot of effort, time and pratice to be the number on in his profession.

Colnel Sanders (yes the one of Kentucky Fried Chicken fame), he started his business in his 70’s, and he was rejected many times about his idea to have a chicken shop with his identical recipe for chicken in breadcrumbs.

Edison took over 10,000 tries to create a light bulb, and eventually he succeeded.  Image if he had give up earlier in the process, I would have found it very hard to survive in the winter dark days and nights.

So what if you suck at talking to people about your business, uou might have to start out with a script, but make that script yours, own it.  Keep talking to people daily, you will get better.  The more you talk the more you gain confidence, the more you find what works for you.

If you feel fearful picking up the phone, just do it! you never know if opportunity is on the end of the phone.  What can the caller do to you? All they can say is NO, sorry not interested.  But NO is never a NO it is only a NO not know, the timing isn’t right.

My point is, don’t quit.  All the above took years and years of practice and perfecting each area before tthese people were recognised as being superstars. Success never happens overnight, it is a journey, one that can take an eternity, or one that seems to escalate pretty quickly.   As the quote says, what you lack in talent you can make up for in desire, hustle and giving what you focus on 110%.

Sometimes you also have to remind yourself this, as it is easy to forget!

To your success!

So tell me what other tips or advice do you have to overcome the fear of not making sales in your business? Share the Gossip in the comments below,  we all want to learn and improve our game.