Nobody likes opening their bank account sees it sitting on low three digits, but there isn’t any shortcut to adding more digits to it. Having a wish-granting genie that can make you rich quickly would be very convenient, but that’s just fantasy. However, unlike a genie who can only grant three wishes, we have multiple attempts at getting our personal finances together. If your financial situation isn’t exactly in the best position right now, there are many ways you can go about improving that. Of course, it won’t be as easy and might take a while before it takes off, but following these steps can guarantee a good financial future waiting for you.

Get More Sources of Income

Relying on a single source of income isn’t exactly the best decision. When that source of income falls, you’ll be left defenseless and in dire need of money. The best option is to have multiple sources of income to have a fallback in case of emergency, and even without an emergency, it means having more income to work with.

One simple way of adding another source of income is through part-time jobs. While we don’t exactly live in a world where getting a part-time job is easy, many contractual jobs are available on the Internet. As the global industry grows even bigger, more and more companies, small businesses, and individuals are looking to have specific tasks accomplished. If you have skill in, let’s say, graphic design, or programming, or online teaching, take advantage of it. Do extra work on top of your day job. It might be tiring, but if you plan your days right, you’ll come out of it with a thicker wallet.

Clear Off Your Debts

Having a lot of debt is a sure money drain, and no matter how much you save, as long as you still have debts to pay off, you’ll be losing more money than you earn. From credit card debt and student loans to paying your mortgage broker, we all have debts and bills to accomplish. It does not feel great living from paycheck to paycheck, so here’s what you can do:

Make a list of your debt. Arrange it from lowest to highest, and start focusing on the smaller ones first. You’ll find it a lot more manageable to clear the smaller ones, and the feeling of accomplishment of having paid your debts will motivate you to work even harder.

Pay Above the Minimum Payment. If you’re constantly paying the minimum fee on your expenses, you’re probably doing more harm for yourself than good. Interest rates increase the total amount of what you need to pay, and when they stack, it can be quite significant. Start clearing off your debt by consistently paying more than the minimum.

Use Cash, Not Credit. Having a credit card that you can easily use is convenient, but it also sets you up to spend more than you need. Make it a habit to use cash, and only use your credit card when you really need it. You’ll be surprised at how you’ll stop accumulating debt when you do this.

Take Advantage of Expense Trackers

We all live on a budget, whether we’re aware of it or not. But if you often find yourself short on cash, then it’s best to be conscious of your own budget and do everything in your power to stick to it. You can make this easier to use expense tracking apps that let you track down what you’ve been spending on.

Fortunately, expense trackers come in all platforms, from smartphones to tablets and even computers. Most of this software is cross-compatible, allowing you to look through your data through a phone and a computer. Take advantage of such technology to analyze your own spending habits. Seeing what you’re spending the most will help you cut down on unnecessary spending and save money when you need it.

Study Personal Finance Seriously

Investing, saving, budgeting, banking, and much more- all of these fall under the personal finance umbrella. It basically involves studying how money works, your money, and the economy, in general, to help you make the right financial decisions.

Personal finance is among the most important things to know if you ever dream of living a financially free life. It will help you be aware of your own finances, find ways to make paying your expenses cheaper and more efficient, and even let you in on investments. Personal finance is a field of study that everyone should learn, and while they don’t teach at school, you can still learn it through the thousands of resources available online.

Knowing these things can help you focus on your personal finances. You can learn how to manage them without experiencing losses. This way, you can also prepare for your future.