Nobody wants to be placed in a hard financial situation, but it happens to the best of us more regularly than we’d like. However, when money is tight, there are certain things you can do that will make the struggle less stressful and hopefully help to ease away some of the tightness that controls your every move. From finding quick ways to make extra cash, to making more involved decisions to help boost your income, be sure to do these five things when your money is tight.
- Create a budget.
If money is always tight, the first thing you must do is create a budget. This will ensure you’re putting money where it should go (towards groceries, utilities, and debts) and not where it shouldn’t (shopping sprees, fast food, etc.). On your budget, be sure to list your must-pay monthly expenses as well as list when money comes in. When you do this, you’ll be able to know when exactly you can pay your bills. Plus, when you have your money assigned to certain things, you’ll be able to see if there is extra money lying around that you were spending frivolously. If so, you can then apply this to places where it matters.
- Bring in extra cash.
Bringing in extra cash is a great way to help reduce the burden of a tight budget because it allows you to spend money on things to help you need. This can be done in a variety of ways. For instance, you can try to gain a second job or find a new job that pays more money. If this isn’t possible, you should consider selling items online to help you boost your income. This will allow you to put that extra cash toward something you truly need or must pay off, and you’ll be happy you did it. Side hustles are a great way to earn extra money, so find what you can get rid of and start selling.
- Cut your expenses.
Do you have monthly expenses that you don’t use? For instance, are you paying for a gym membership you never go to, cable you never watch, or landline you’re never on? If so, it’s time to cut these expenses out of your life. By doing this, you’ll free up this money to go towards something else that’s more important, and it will also free up your budget enough so that you have extra money. This way, you won’t have to get a second job or find ways to earn extra cash.
- Find a new job.
Finding a new job can help you earn more money or make necessary changes that will help you cut expenses. For instance, maybe you’ll be closer to home so you won’t have to pay so much for daycare, or maybe you can earn an extra few bucks an hour, or maybe you’ll have more freedom to cut your expenses all the way. For instance, if you can find a job that allows you to minimize your expenses, you can see yourself making a great amount of money. Some people opt to work from home and then do so in a tiny house that allows them to travel while still earning a paycheck. Trucking jobs are a good start for this type of lifestyle too, as it allows you to explore the world and can so from the comfort of the truck’s cabin. If you’re ready to make a change, consider a new job that will allow you to do just that.
- Look for the free.
Being on a budget or having money be tight doesn’t mean you need to sit at home and do nothing in the dark. Instead, you need to put your creative hat on and start looking for the free that’s around the world. For instance, maybe your neighborhood has free movies in the park, or maybe your local library puts on free book readings. In addition, you also need to look at restaurant promotions. Only go out to eat on Kids Eat Free nights or other specials that allow you to significantly cut the cost of something you love. Plus, you’ll likely find that you have more fun spending time with those you love or the things you love to do more than what money used to buy.
Money doesn’t buy happiness, and being frugal will prove it. When your finances become too tight, be sure to do these things to make a huge difference.
I like to call the companies I work with at least twice a year to check that I’m in the best “plan” possible. Changing jobs may work for some but for others like us it’s not an option if they need the health insurance.
These do sound like good tips, and good ways to get some extra money even if you aren’t having hard times. Save for your retirement, etc.!
Here is an extensive and regularly updated list of kids eat free deals below. The list is updated weekly.