We always hear the importance of saving but do you know what you should be saving for? If you’re looking for steps to improve your financial situation, you’ve come to the right place.

When the global pandemic hit, it certainly taught us the importance of saving money. A lot of people lost their jobs and used up their savings. It certainly taught me to think more about my future and improve my financial picture. And today, I’m sharing the steps I have taken since the COVID-19 lockdowns.

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Photo by Microsoft 365 on Unsplash

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Start Saving Now to Improve your Financial Situation

The first step in improving your finances is to figure out where you stand right now. This will give you an idea of how much you need to save each month to reach your goals.

Because once you’ve determined how much you need to set aside each month, you can start saving. If you’re not sure where to begin, there are tools like SavingsCalculator.org that can help you with your goals and determine how much you should be saving each month.

The sooner you start saving, the better off you’ll be. Like my parents would say “The earlier you start, the easier it is to save,” and also Chris Hogan, founder of the website Money Crashers. would say “You get used to the idea of putting away some cash.”

So start saving now! Here are the other steps to improve your financial situation.

Determine Your Goals.

When I started the saving money journey, I had to start by determining my goals. What will I accomplish when I reach my goals? Will I save more money? Spend less money or Make more money? Or something else entirely?

I believe that when knowing what you want, also sets a deadline for reaching your goal. If you want to save $1,000, then set a date for saving at least $100 each month. You might be able to achieve your goal faster if you set smaller monthly targets. For example, if you want to save $500 in one year, then you should aim to save $50 every two weeks. You could use saving calculators to determine your goals.

Set Up an Emergency Fund.

The emergency fund was way at the bottom of my list in my early 20s but when the pandemic hit, it taught me the importance of having an emergency fund. I learned the hard way that emergency funds are your cushion in times of crisis. I was caught off guard and rattled at times when I had no emergency fund. Now that I know how to save for it, I shared my tips here to save for an emergency fund.

An emergency fund is a savings account set aside specifically for unexpected expenses. It’s not uncommon for people to put off saving for emergencies because they think they won’t need it. However, emergencies happen unexpectedly, so it’s better to be prepared than sorry.

For your emergency fund, you’ll want to keep at least three months of living expenses in reserve, according to Bankrate.com. That means if you were laid off from work, you’d still have enough money to cover rent, groceries, utilities, and other essentials until you find new employment.

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Photo by Katie Harp on Unsplash

Pay Off Debt.

If you’re looking for steps to improve your financial situation, one of the first things you consider is paying down debt. This will help you save money and build wealth at the same time.

In my experience, I had overwhelming credit card debt and I had no idea how to manage it. I know that the balance in life is to be debt free while having a savings account.

Until I decided to take the journey of eliminating credit card debt. I shared my tips in this blog too.

The best way to pay off debt is to use a debt snowball method. In this strategy, you take on the smallest amount of debt possible each month. Once you’ve paid off that debt, you move on to the next smallest amount. You repeat this process until you’ve paid off all of your debts. Freezing my credit card also helped me a lot.

Invest Wisely.

There’s no doubt that improving your financial picture and building wealth takes hard work and dedication. However, there are also some simple steps you can take to make sure you’re doing everything possible to reach your goals.

And that step is to invest wisely. If you want to improve your financial situation, you’ll need to put away at least 10 percent of your income each year into savings. That means if you earn $2,000 per month, you should be putting away around $200 every single month. You can use that money to pay off debt, save for retirement, or simply set aside for future expenses.

Also, a piece of great advice from a friend I received is to use the internet to save and make money. The internet has become an essential part of our lives, whether we’re looking for information on how to cook, how to travel, or how to save money, the information we need is there.

One investment I did use the internet is starting this blog. And it’s one of the best decisions I’ve ever made. This blog is my outlet to express myself and share the lessons I learned all the way while making money from it.

Build healthy spending habits.

If you are a regular reader of my site, you probably know that I mention building healthy spending habits a lot. The main reason why I got myself into a huge credit card debt is my unhealthy spending habits.

We all spend our money differently. Choose wisely and choose healthy spending habits.

Sharing is Caring

What are your steps to improve your financial situation?

The pandemic has taught me a valuable lesson. That is to map out and prepare for my future. Save money and set an emergency fund so that when crises hit we have something, like a cushion to rely on. No matter what your financial situation is, the future remains uncertain so you just have to prepare for it. Use these tips and steps to improve your financial situation.



  1. Archana Singh

    December 28, 2022 at 10:08 PM

    Great post on how to improve your financial situation. Healthy spending habits are essential and I am trying to be better at it.

  2. khoingn | The Broad Life

    December 21, 2022 at 1:24 PM

    The post truly has good lessons in finance for anyone. Anyway, it’s good to know the clear goals first.

  3. Jennifer Prince

    December 14, 2022 at 4:19 AM

    Determining goals is a great place to start! After all, if you know where you are headed, it’s easier to get there!

  4. Angela Ricardo Bethea

    December 13, 2022 at 8:10 AM

    Those are all wonderful and important steps to keep in mind. I like to budget everything and try not to have debts so to lessen future problems.

  5. Ntensibe Edgar

    December 13, 2022 at 6:04 AM

    “Start Saving Now”! This is the best direction to take to improve your financial situation!

  6. Rosey

    December 13, 2022 at 2:29 AM

    Getting rid of debt would be a big deal for me. I’d love to clear the student loan debt off of my back.

  7. Stephanie Grillo

    December 12, 2022 at 1:43 PM

    I found this article just in time for my yearly budget planning. I defiantly need to rebuild my emergency fund!

  8. Goodmoviefinder

    December 12, 2022 at 1:04 AM

    Healthy spending habits are essential! We have two young kids, and my husband is very cautious with money now. I guess we still have to learn a lot about finances.

  9. Cinny

    December 11, 2022 at 5:20 PM

    I think an emergency fund is so important. This is still something I’m learning!

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