Oh no, It is the end of the month again! And you need to buy groceries, pay bills and have enough money to s-t-r-e-t-c-h till next payday. it is a very familiar situation in many homes these days. And for a lot of folks, they end up robbing Peter to pay Paul. Which is also adding more stress to an already difficult situation. So what can a family do? Is there any way to avoid this same scenario month after month?
- You could play the lotto…
- Hope for an inheritance…
- Work 20 hours a day…
- Or work two or three jobs…
But is that going to help pay off your debt? It may help, but it could take years and to what advantage?
- Less time with your family?
- Estranged from your spouse?
- Missing all the important things in life?
Not what we set out to do when we started this journey is it? Below I have listed 5 very simple and doable ways to help a family succeed at making ends meet, get out of debt and without the sacrifice at the expense of your family. I know they have helped my family and I hope they can help yours too.
- Don’t buy what you can’t afford. Sit down and make a budget for your family. It is the only way to avoid overspending and coming up short on cash.
- Pay your bills or set up a payment arrangement if you have to. When you avoid paying what you owe, that only cycles you into a financial depression and makes matters worse.
- As you pay off smaller debts, feel good about yourself and move onto the next one
- Be frugal when it comes to grocery shopping. Don’t buy prepared foods, when you have the know how to make it yourself.
- And once you have set up that budget, if it looks like your debt to income ratio could still use a little help, do what needs to be done to fix it, but ask yourself one simple question. have I ever though about a business from home that will allow me the opportunity to add to my income without any risk?
Have a wonderful day!!