If you’re finding it tough to stretch your money to the end of the month then you’re not alone. A lot of people are living paycheque to paycheque these days and getting stuck in a cycle of only having just enough to get by. If this is you, here are some tips on how you can ensure that your money will last until payday.
Organise your expenses
If you’re uncertain about having enough money to last you until the end of the month you first need to find out how much money you need to get you to payday and how much of it is going where. This means making a list of all of your important bills that absolutely cannot go unpaid as well as any vital living expenses that you can’t go without, like gas and food money. Once you have an idea of how much you need you’ll find it a lot easier to put it together.
Get the bills out of the way
Skipping on bill payments is one of the worst things you could do when you’re in a tough financial situation. You could end up incurring fines and interest if you skip payments or you could damage your credit score. So, before you start making shopping lists, get your bills paid first or put aside enough money to pay them when the time comes. If you come up short you can look into safe short term loans to pay your bills but only if you’re confident that you can pay them back as soon as possible. Short term loans should only be used for serious emergencies, like urgent bills and emergency expenses that need paying, to avoid bigger bills or serious consequences later on. Once you’ve got the bills out of the way, you know exactly how much you’re living on for the rest of the month and can start planning out your budget.
If you always feel like you’re teetering on the brink of bankruptcy, you need to start rethinking your priorities as well as how you’re spending your money. Little, everyday expenses often add up to unexpectedly significant amounts without us even realising it. If you’re not sure where your money is going, bring a notebook around with you for a week and write down everything you buy and how much it costs. You’ll quickly notice that little luxuries quickly add up and giving them up could improve your financial situation. An extra $10 a month in your bank account might not seem like much, but that might be the exact amount you need to keep you going until your next payday.
Make money on the side
If you really are strapped for cash there are lots of ways you can make extra money on the side and get your paycheque on the day. Babysitting, housesitting, dog walking and tutoring are all jobs that you could easily pick up over the weekend. If you’re a creative, now might be the time for you to write that book you’ve been saving and sell it online, or sell those knitted blankets you made by hand. If you’re short on free time and can’t pick up an extra job, the internet is the answer for you. Get all of your old junk on Ebay and auction it off, or sign up with online survey websites where you can get rewards for filling out survey. It’s easy money with minimal effort.