How do you cope with being broke? I used to just get depressed, and then I decided to do something about it. No I didn’t win the lottery and I didn‘t inherit a fortune from some long lost relative. What I did was take control of financial situation. It is easier than what it sounds.
The first thing I did was sit down with go over all my monthly expenses, not just my bills. I wrote down what I spent on gas, groceries, entertainment and clothes in addition to what I was spending on my bills. Then I figured out exactly what I was bringing home each month. The two were way to close for my liking.
Second I looked at all my non-essential bills to see if there was any fat that could be trimmed. You can usually save some money on your cable bill by cutting out the premium services. (We got rid of our cable all together about a year ago and we are surviving just fine) If you have a cell phone try to figure out what features you can live without and get rid of them.
Sometimes getting rid of your home phone is an option. If everyone in your family already has a cell phone you may not need the home phone as much as you think. We kept track one month as to how many times we actually used our home phone. We were using it less than once a day. I think it came out to about $1.50 per call. It was cheaper for us to increase our cell phone minutes and get rid of the home phone. It may not be for you.
You can really cut back on your entertainment expense just by doing some research and planning ahead. There are always coupons in our paper or on their website for restaurants, usually buy on get one free or half price. If you are going to a movie go to a show that starts before 6:00 PM so you only have to pay the matinee price. Or better yet wait until the movie is at the Discount Theater to go see it. Always check the paper for free events in your area. Better yet, check out your state’s tourism website to see what is going on near you that may be cheap entertainment.
If you are trying to stick to a budget and save money DON’T just sit home. Find ways to go out and have fun without spending a fortune or you will never stick to your budget. It is kind of like when you are dieting, if you totally deprive yourself of the good stuff you will be more likely to give up.
After you have trimmed some of the fat out of your expenses it is time to make yourself a budget. It you have never done this before, don’t worry it is easier than you think. You just list every bill or expense you have and then write down what you are going to spend each month on that particular expense. Don’t forget to include savings. You need to put a little back each month for saving so that you will have money for emergencies when they come along. The trick is to stick with the budget once you make one.
I found that once we had a budget I knew where my money was going instead of just feeling like I was always broke. I felt more in control of my situation and less helpless to change it. Money is still tight, but at least I am moving in a positive direction by monitoring my spending habits and sticking to my budget.
