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What to Do When Your Income Decreases

What to Do When Your Income Decreases

Have you ever experienced a sudden decrease in income? Perhaps your company went out of business without warning. Or, maybe you had an accident and had to take a temporary leave of absence with no short term disability pay. Of course, you may have planned to leave your job for a better opportunity to make even more in the long run. The facts are there can be a lot of reasons people experience a change in their income. But whether or not it is planned, a decrease in your income can wreak havoc on your budget and your finances. But what should you do when your income decreases? Here are some steps to take to make sure you income decrease doesn’t harm your finances too much. 1. Take Stock Even if the decrease in your income is planned, you will need to evaluate your finances to get a starting point. How do you know what steps to take or where you are headed if you don’t know where you are starting from? Determine what your outstanding debt is. Make a list or spreadsheet of all of your necessary bills including rent or mortgage, auto loan payments, food, utilities and any ...

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5 Ways Freezer Meals Can Save Your Butt and Your Budget

5 Ways Freezer Meals Can Save Your Butt and Your Budget

I haven’t always made freezer meals. Back in the day, I used to eat out whenever I was in a rush for a meal, and I didn’t always make the most nutritious choices. I had a full time job and helped with my family’s farm which kept me busy even though I’m single. But when I began freelancing a few years ago I became even busier. As my side hustle grew the amount of time I had available for cooking diminished to almost nothing. Out of necessity, I began planning meals ahead and making freezer meals about once a month. Using either my crock pot or oven, I was able to cook meals and work at the same time. Making freezer meals really saved my butt. Here are 5 ways freezer meals can save your butt and your budget too. 1. Use What is on Hand One of the ways freezer meals can save your budget is by helping you use what you already have on hand. Take inventory and make a list of the items and their quantities in your pantry, cabinets and freezer. Next, pull out your favorite crock pot recipes or look some up on Pinterest or ...

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Should You Move to Lower Your Cost of Living?

Should You Move to Lower Your Cost of Living?

When money gets tight, you are probably like most people. You may start looking for ways to cut your costs and stretch the income you have available in order to make ends meet.  But how far are you willing to go in order to pay for everything? If you find yourself in the situation where you have more month than money on a regular basis, you might be thinking about ways you can lower your cost of living each month. One way to do this is by moving to a lower cost of living area. But, should you move to lower your cost of living? Here are some things to consider first. 1. Job Loss Losing your job and income is one of the major reasons many people move, but moving may also help you lower your cost of living. It can give you the chance to start over and may be just what you need to bolster your spirits and get you going. Don’t do it on a whim, though, because there could be a few drawbacks too. For example you could be leaving behind extended family and friends you have known all your life. You may also be ...

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5 Signs You’re Obsessed with Saving Money

5 Signs You're Obsessed with Saving Money

Lots of people these days are trying to be more frugal with their money. As a result, there are books and articles everywhere on the topic. Some are saving toward goals of vacations, retirement, or a college education for their children. Other people have made it their occupation and sole professional focus, like me. 😉 But how do you know when saving money becomes an obsession? Here are some signs that you’ve become OBSESSED with saving money. Spending Makes You Anxious If you have trouble buying a single piece of candy at the store or one extra item that isn’t on your grocery list once in a while, you may have an obsession with saving money. While it’s a great idea to track your spending, you probably don’t have to account for every single cent all of the time. If you are tracking every scent and having feelings of anxiousness or panic when you try to make a small, unplanned purchase every once in a while, you may have a deeper problem. Constantly Checking Your Budget When you constantly check your budget before spending any money at all, you might be going a bit overboard. Most budgets need a little ...

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8 Amazing Ways to Save Money

Sometimes the hardest thing about saving money is just finding the right path of getting started. Whether you are planning to save for a big goal or trying to pay the debts, cutting costs can actually be the best way of saving money. The way you spend money on things can easily reflect your priorities in life. As we all know the fact that sometimes taking the first step of saving money can really become hard. So, here is a step by step guide in helping you to make a realistic saving plan. Record your Expenses This is one of the most effective ways to save money, which one can take. Try to keep a record of your every single expenditure, at least for a month. That means every newspaper, every coffee or every entertainment cost you are going to pay in a month. After getting all the data, organize them according to the category for getting the total amount. In this way it would be easier for you to build a clear conception about your spending habits. Savings on Housing For most of the people, housing can actually be a great expense. So, if you are single, then think ...

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