When you have problems with your budget and you can’t keep up with your bills, it’s easy to panic. However, to regain control over your spending, slow down and ask yourself these questions.

Are Your Problems Long- or Short-Term?

Some budget problems are caused by years of poor spending habits or excessive loans, while others result from an unexpected period of financial difficulty. For example, totaling your car and having major surgery in the same week cause unplanned financial stress. It’s important to determine what situation you’re in so that you can choose the best solution. If you just need help making it to the next payday, apply for short term loans Mississippi. If you’re facing down a lifetime of rising debt, it’s time to ask an accountant for help.

Do You Have Funding Avenues Available?

You probably have more ways of receiving funding than you’re aware of. In addition to taking out loans, consider selling belongings that you don’t like or value but are worth money. Search through your attic or basement for antiques and your closet for clothes in good condition. Don’t forget about collections you no longer care about; these are often worth a lot on eBay and similar sites.

Do You Know How to Budget?

Perhaps you’re not confident in how a budget works, so you don’t follow yours, or maybe you didn’t design it realistically enough. You must understand how this powerful financial tool works to save yourself from future financial hardship. Work with an accountant or financial coach to create an accurate budget that helps you address all your financial concerns. Consider taking a class in personal finance at your local community college to brush up on budgetary tips.

By answering these questions, you prepare yourself to deal with your current financial problems and live within your budget.