Although the economy in 2020 is likely be a period of growth according to economists, that doesn’t mean that people still can’t encounter financial issues. When these trying times do occur, it can easily negatively affect your entire life.
But, there are ways to get by when money is tight, and they’re likely far easier than you believe. Not sure where to start? Don’t worry, we’ve got you covered.
Let’s take a look at everything you need to know.
1. Cut Down on Eating Out + Drinking
One of the best ways you can start saving money is to eliminate any unnecessary costs on food and alcohol. For example, let’s assume you spend approximately $10 per day on meals from restaurants. This means you spend $300+ each month that you could be saving instead!
Alcohol, in particular, is something that needs to be kept in tight moderation. It’s easy to fall into depression when times are financially tough, and drinking will only exacerbate the issue.
Instead, forego buying alcohol entirely and start making all your meals at home. You can meal prep for the week and take food with you to work/school when you need to.
2. Look For Ways to Earn Extra Cash
There are odd jobs all over the place – you just have to look.
Things like babysitting, pet sitting, dog-walking, etc. are all low-effort jobs that have the potential to pay reasonably well. For example, someone who lives in an upscale neighborhood might need a last-minute dog sitter and will be willing to pay top dollar for one.
You can start looking for these opportunities by reaching out to friends and family. Then, you can check places like Facebook, Craigslist, etc. to see if there’s anyone nearby who needs your services. When looking online, though, make sure to look into the person you contact. You should avoid meeting with a stranger you can’t research at all costs.
3. Thrift For New Clothes
If you need new clothes for an interview (or just in general), thrift stores are a great place to shop. Not only do you have the opportunity to get barely-used clothing for cheap, but you could also buy clothes that are in mint condition and then resell them online.
In fact, it’s not at all impossible to find an entire outfit for around $15, so don’t forego these stores when you’re out shopping!
4. Seek Financial Assistance
If all else fails, you can seek to borrow money. While many people are too proud at first to consider this option, there’s nothing wrong with asking for help when you need it.
Friends and family are often the first people to turn to, but money has the tendency to complicate these relationships. If you wish to forego asking someone you know, a title loan could be an option to take advantage of.
Handling Times When money Is Tight Can Seem Difficult
But it doesn’t have to be.
With the above information about what to do when money is tight in mind, you’ll be well on your way to getting back on your feet as quickly as possible.
Want to learn more lifestyle tips that can help you out in the future? Be sure to check out the rest of our blog.