How To Budget When You Aren’t Making Enough Money
No one wants to be out of work or working limited hours. This is without a doubt a difficult position to be in, but unfortunately, it is one that a lot of individuals have found themselves in right now. If the coronavirus doesn’t have you out of work, it likely has you working on limited hours or working from home. While working from home can provide plenty of financial perks, limited hours throws a wrench into that whole equation.
People have been asking themselves for years as to how they can properly budget when they aren’t making enough money. Heck, it probably seems like an impossible thing to achieve, but just because you aren’t making enough money to cover all your expenses right now doesn’t mean you have to admit defeat. You can get through this trying time with the right strategy and plan.
It All Starts In The Mind
You’ll never get out of this mess, your hours are never going to come back, you are going to end up losing your home, and you’ve let down your family. These are all probably things that are running through your mind, and this is completely understandable. Who wouldn’t be thinking these things? It is only natural to think these things, but you sit around and stew on them and they’ll become a self-fulfilling prophecy. While it is hard to think positively during a trying time like this, you have to find something to have faith in. It doesn’t matter if it is religion, your children, or an outside force, you need to find something to have faith in. You need to stay positive so that you can stay focused on the best way to work yourself back out of this hole that you are in. Stop wondering how to and start believing that you will.
Economizing
This one is probably pretty much common sense to most folks, but many people have different definitions of what it means to economize. To some individuals, cutting back might be only eating out once or twice a week. To others, it might be not eating out at all. Whatever the situation is, you have to look at where you are spending the biggest portion of your money and then figure out how to decrease those numbers. You likely have smartphones with several plans. Don’t just cut off the plans that you don’t need, but cut off the plans and sell the phone that you don’t need.
Even used smartphones still go for a pretty penny these days. Don’t just cut back on your cable, but cut it off completely and stream online for free. In addition to this, remember that there are other great sites online like budgetable that can provide tips and information for economizing.
Use Coupons
Companies all over the globe market their products through coupons. The coupons will appear in local newspapers, online, and monthly magazine issues. Couponing is a great way to save a lot of money. However, you will most likely need to spend money to receive these amazing money-saving benefits. Most people will sign up for a monthly magazine and newspaper subscriptions just to get access to some great coupons.
You can spend the coupons in local-based grocery, retail, and big box stores. Some online marketplaces also accept digital coupons. Whatever the case may be, you can save money on all kinds of products. These products include brand name canned food, dairy products, cleaning supplies, and health and beauty items. The coupons can vary in savings from 10 to 50 percent. If you utilize them in businesses that match the value of the coupons, you could possibly receive the products for free. With couponing, the saving opportunities are endless. You just need to know where to find and spend the coupons to get the most out of them.
Consider Buying Knockoffs
Some consumers are not partial to knockoffs. But, they do not know what they are missing out. Many knockoff products are designed utilizing the same processes as the real deal. The only difference is the brand name and price. You can save up to 75 percent on some products, including purses, shoes, coats, and jewelry by buying knockoff brands.
It is crucial to know that some knockoffs are not going to offer the same longevity as brand names. However, if you are willing to commit to the idea, you could buy some great items that look just like the real deal at a fraction of the cost. And, no one will be able to tell the difference unless you tell them your little secret.
I think economizing is key. If you take a careful look at your finances you are likely to find all kinds of money black holes. Cable and cell phones are big offenders but so are so are under used subscription services and over paying for insurance. If you take a careful look at your spending is probably easier to cut back than you think.