JoshIf you’re strapped for cash this month, you might be wondering how you can afford your bills, food, or any other costs. There are many reasons you could be struggling, such as due to an unexpected expense, a newborn, or maybe you’ve had an accident and you’re subsequently missing some of your wages due to time off work – click the link for a lawyer dealing with slip & fall accidents if this is the case.
If taking on more hours, or a second job, are not an option for you right now, you may be feeling like the situation is hopeless. Thankfully, there are ways that you can increase the amount of money at your disposal, or reduce your outgoing costs, that can be achieved easily with a few small changes.
Budget
Before you do anything, you need to find out exactly what you are dealing with. Sit down and make a list of all the guaranteed money you know you will get this month. If your friend owes you money, for example, do not include that as you cannot say for certain that it will be paid back.
Next, look at the bills and other expenses coming out in the next calendar month. Here, you should include housing costs and standard bills, as well as money for groceries, fuel, savings, debt repayments, and any other costs. This will help you to see what the difference between the two amounts is, and if you will get by or not without action.
Stop the Leaks
You may be paying for services you don’t use, such as a gym membership. If it is something you seldom use or can sacrifice for a month without paying any penalty fees, it might be worth doing so. You can always restart these at a later date when you are in a better financial position and more likely to use them.
Do It Yourself
A lot of services you pay for can be done yourself. One of the biggest spends people don’t think about is getting a haircut. For the time being, it might be worthwhile giving yourself a little trim at home, rather than paying a large amount of money you don’t have for something that is purely superficial.
Benefits
Due to children, illness, injury, or low income, you might be entitled to some benefits. It is worth looking into what is available to you in your state or country and, if applicable, applying for the assistance. There is no shame in using the available support as a stopgap in a time of need.
Stop Using Convenience
Taking taxis instead of walking, buying coffee or lunch instead of making your own, ordering takeout or eating at restaurants instead of cooking at home. These are just some of the ways we can opt for convenience simply because it’s easier. This ease comes at a cost though, and one that could be avoided by taking the route with more effort. Stop taking the easy way out and you might have more money at your disposal this month.
It may not be easy, but it is possible to assess your finances and cut costs down to allow you more money. It might not be fun, but it will make sure you don’t default on any important payments.