Wednesday, June 1, 2016

5 Frugal Living Tips for Getting Your Family Through A Tough Time


Tough times can hit just about any family at some point. A lost job, a medical emergency or an altogether down economy can create financial stress. 

There are, however, ways to deal with these difficulties. No matter what the situation is, having financial difficulties is no fun at all and can be really hard to deal with. 


Here are five tips that could help.


Cut Expenses To The Bone


Most families have a fairly substantial amount of fat in their budgets. Whether it's a daily latte at an expensive coffee shop or a super duper expanded cable package with just about every pay channel imaginable, there are ways to cut down on expenses. 


The first step in the process is figuring out where money goes every week or month. Then, the second step is to see what expenses are needs and which are wants. Basic food and hygiene products, clothing, shelter and transportation are needs. 

Just about everything else is a want that should be eliminated until your finances improve.

Downsize


Housing is one of the biggest expenses that a family will have. At times, this can take up to 50 percent of a family's budget. 

Downsizing to the cheapest available living arrangements without sacrificing safety is a good way to get through tough economic times. Once you do this you will be able to see a significant increase in your finances. Downsizing may be hard for a while, but it can be well worth it in the long run.

Sell Unneeded Items


With online retailers like Amazon and eBay, it's possible for just about anyone to reach a global market. There is a very good possibility that there are some unused items lying around just about any home. 

As it's frequently said, one man's trash is another man's treasure. Putting these items online or holding a garage sale can be a great way to bring in some cash to smooth out a financial emergency. This can be a super easy way to get some extra cash.

Get a Side Job


The freelancing economy can be a great way to access some additional cash on a regular basis. While you're not likely to get rich overnight, there are some great options to find jobs that pay. 

Freelance writing, coin grading, like that done at Rocky Mountain Coin Inc., or driving for a service like Uber or Lyft can pay off and provide that little bit of income that's necessary to make ends meet.

Check Out Charities


Those who are really stressed out by limited finances can sometimes find help through local religious or nonprofit organizations that are intended to help those who are in dire straits. 


These groups are set up to benefit those going through a tough time, so it's a great idea to benefit from them if you meet their qualifications. So make sure to see out help if you need it and see if you meet the proper qualifications. There are so many different resources out there for those that are struggling financially. 

That is why it is essential to do your research and find the best help center for you. Just remember that you are never alone and you don’t have to be.

No one knows when a layoff might hit or how long it might take to find a job after getting a pink slip. Those who know where to look for help can weather the storm more successfully than those who do not. These tips can provide options that can allow you to navigate a difficult financial situation.

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