So let’s face it, you’re broke. You don’t have any spending money and you’re barely able to pay your bills.
Call it “staying above water” or “just making it,” but no matter how you slice it money is at a premium. You promise yourself that you’re tired of playing it so tight as far as income versus expenses, and you’re going to draw up a budget or start making cuts where you can.
But that plan doesn’t always get carried out, nor for some of us is it even put out on the table.
And that is part of the problem in general as it relates to spending and saving, even for those who don’t have any extra cash to speak of.
One of the bigger problems, if you don’t have money, is your unwillingness to have a realistic budget. Let’s say you had a pay cut, lost a job or just don’t have the kind of income that warrants your expenses.
You still might find yourself having the highest and most expenses (and best) cable package money can buy, or not skimping all of a sudden on buying clothes, upgrading your wardrobe or those weekly massages that are wonderful but costing you hundreds you don’t have.
Even the $50 per month gym membership is up for debate, and truthfully really nothings off the table at this point in your budgeting game.
What else do those without money tend to do that is a head scratcher?
How about adding more debt to your already amassing amounts of cash that you owe or not limiting yourself as far as what you spend? The latter is pretty simple: you might have to go a few summers without a vacation or learn to embrace the “stay-cation”. Some that struggle with money are struggling to the point that they still don’t believe they have an issue, and are still charging up and maxing out credit cards with no end in sight.
You can’t assume any more debt at the point where you don’t have any money saved. Adding new debt is never advisable, particularly if you are just making it. Granted, you may have to in a dire situation use a credit card but only after you look at your budget and cut it accordingly. If you’re still enjoying 5 movie channels on cable that you pay extra for or a full blown data plan, and you’re using a credit card for groceries or to pay your car payment, something is way off.
Not having money feels like the end of the world, but you can take steps to fix it, most importantly the one that has you reassess your spending habits but mostly realize you don’t have the money to spend anyway.