If you’re struggling with your mental health, it could be challenging to maintain control of your money. For instance, anxiety or depression could cause you to get behind with payments or not look at the best ways of investing.

But as long as you remember to actively keep focused on your financial situation, you can make your finances work for you. So, take note of the following ways to stay on top of your money.

Learn How to Budget Better

The number one way to stay on top of your finances is to learn how to budget. You should identify what all of your necessary outgoing costs are each week or month and then put aside funds to pay for those necessities.

Outgoing costs will include things like your groceries, your rent or mortgage, and all of your bills, such as electric, gas, water, phone, and internet.

You then need to know what your income is. Subtract your outgoings from your income and you will be left with a figure that you can spend on non-necessities, such as going out and buying products you would like to have.

If you find it difficult to budget, try the envelope method, which involves using envelopes to keep cash for different outgoings. Then, simply ensure you don’t use the money in those envelopes for any purpose other than what the funds are intended for.

That way, you can avoid using your card to make payments without monitoring how much you’re spending and instead ensure you always spend within your budget.

Make Investments Easier by Tracking All of Your Financial Information in One App

Investing can be an excellent way of making your money work for you and building wealth in the long term. But keeping track of different investments and financial situations can be challenging, especially if you have mental health issues.

Thankfully, it’s easy to keep track of all your investments and financial information when you use an app for all-in-one investing, such as the app from SoFi. With automated investing, you can trade stocks and ETFs, invest in IPOs, and trade cryptocurrencies.

Furthermore, when you fund a new account with SoFi, you’ll get up to $1,000 in stock! Investing has never been easier.

Regularly Check Your Credit Rating

Another great way of staying on top of your money is to regularly check your credit rating. If you don’t, your finances could get out of shape and it could be more difficult to do things in the future, such as being accepted for a credit card or a car loan.

By monitoring your credit report each month, which you can do with several online services, you can check your spending and your financial health, and spot any errors.

Stay in Control of Debts

If you have any debt, it’s important that you prioritize paying off amounts to reduce and eventually eliminate your debt. It could be worthwhile consolidating your debt, so look at the different options that are available.

If you don’t take the right action to pay off debt, it will take you longer to get out of debt and your credit score is sure to be affected. In turn, that can lead to things like being unable to take out a loan when you need it.

So, make sure your debts are included in your budgeting strategy and pay down the debt as much as possible each month. It could be worth talking to a financial advisor to help you stay on top of your debt and your money in general.

Furthermore, if you suffer from something like anxiety or depression, having debt hanging over you could potentially make you worry more and worsen your mental health. Therefore, ensure you stay on top of your debt as much as you do your other financial situations.

As long as you’re organized, you can maintain control over your money and make it work for you.