Most of us are feeling some sort of strain from the current
economic situation, even those who are good with money. The loss of a job or a
cut in pay to keep a job are both real events happening all around us. How are
we to make “ends meet” with money so tight and not negatively impact
There is no easy answer to that question. However, here are nine suggestions that may offer an option to your personal financial situation.
Look at your spending habits and determine what are real
NEEDS vs. WANTS.
Reduce your spending to only needs, and learn to live within
your new means.
Stop using your credit cards. If you can’t “part”
with your credit cards, here is a suggestion: Take a plastic container, fill it
with water and place your credit cards in the container. Place the container in
the freezer, and let it freeze. This is putting a “freeze” to your
credit card spending.
Create a weekly meal plan. Make a list of the foods that you
will need for your food plan. When you go shopping, ONLY buy what is on the
Clip coupons. Did you know that the average household could
save almost $100.00 a month by using coupons?
Stop eating out. Statistics show that we spend an average of
14% of our income on eating out. This can be in restaurants, vending machines,
snack bars or fast food.
Avoid the temptation to spend money by avoiding the malls or
stores just for entertainment. If you need something, make a list and take only
enough money for the items you need.
Trim your “entertainment” expenses. Everyone has a
hobby or something that they enjoy doing, but if it costs money and your budget
is tight, you might need to suspend your hobby for the time being until your
finances are stable once again.
Take a walk through your house and look at all of the things
you don’t need or use anymore. Turn them into money that you can use now by
having a yard sale or selling them on the internet via numerous free websites.
While these are all ways to help get your “financial
feet” back on the ground by curbing spending, there are also suggestions
on how to possibly bring extra income into your budget.
Do you have a talent or skill? Can you write resumes,
decorate cakes, tutor students, create web designs, sew or do alterations, for
example? There might be a possibility to create a little extra income with a
talent or skill that you possess.
Do you have a little extra free time? There are always
people looking for someone to do odd or routine jobs. Maybe it’s something like
babysitting, running errands, checking on an elderly relative, fixing or moving
things, dog or house sitting. All of these could provide you with a little
additional income to help ease the stress and strain of your financial burden.
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