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Friday, April 17, 2015

When Money is Tight - Part 2

Six things I learned when money was tight:
1. If I budget and know what my income is verses debt/bills - I have much more left over each month.

2. Budgeting and accounting for every cent eliminates a feeling of nervousness and and I don't have anxiety because I REALLY know what the situation is. Every day I pull up my budget spreadsheet and look at it. Every purchase is logged on the spreadsheet.  

3. Don't keep paying higher prices for insurance. At least once a year compare with other companies. It makes me upset that I continued to pay those higher prices when same coverage from another company was available at drastic reduction - just by checking around. When I called to quit - then they wanted to try and reduce their price - but it was too late - I wasn't playing that game with them for screwing me for years. 

4. Don't go to the store without a list. Don't impulse purchase items. If you feel like you need it and it's a good deal, wait a day or two to think about it first.

5. Make a meal plan. You can't grocery shop if you don't have a meal plan. Wasted food is wasted money. Don't waste food. If I have something going bad, I either put it in the freezer (like fruits and veggies - I cut them up first). Leftover meals can be put in the freezer for a quick meal that requires only to be heated up and it doesn't waste food. 

6. Conserve energy by turning off lights, lowering the thermostat, running dishwasher when full, doing a load of laundry only when there is a bigger load, drive less, close blinds/curtains at night, open in the daylight, make your meals from scratch. 

I know that I am in a better place today with less income then I was in August. Even though it has been painful, I gained a new level of wisdom by buckling down. I only wished I would have done this when I was in my 20's. I'm sure if I was this diligent then as I am now I would be debt free and have a huge savings. The past is in the past and I can only go forward. 
If you are young, start now managing your money. Budget, budget, budget! Pay cash. Don't get into debt. Life is so much better without all that stress. 

It's also a mistake to work hard every day and when payday comes along, you have no money to show for all the work you've just put in. That's what happens when you are in debt and every cent goes towards bills. 


It's so much nicer to have actual money in your pocket from all the hard work you've done when you aren't in debt. Then you'll be able to save money, increase your wealth. 

You can't do that if you are in debt. Keep a hold of as much cash as possible, it's the only way you will be wealthy and change your life for the better.

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