Budgeting Through the Tough Times

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Millions of Americans live paycheck to paycheck each week. If someone loses their job or gets ill, that down time could cause huge issues in your financial situation. It may seem impossible to start budgeting, or to continue budgeting during this tough time. But it’s not impossible.

Here are some tips on how to budget when your monthly income is not enough to cover your monthly expenses.

Cut Wherever Possible

One of the biggest things you can do to help yourself, and your budget, during these extra tough times is to figure out what you are currently spending money on that you can do without. Whether that is a monthly cable bill, daily trips to Starbucks or cutting your grocery bill by using coupons, there are tons of ways to cut big or little expenses that will eventually add up and help you out.

Find More Money

This one can be easier said than done, but that doesn’t mean you shouldn’t try. Can you work extra hours at your current job? Can one of you take on a second job? Just because you normally work at a good paying white collar job and have been laid off, doesn’t mean you can’t wait tables until the next good job comes along.


When things reach the time to make decisions regarding what gets paid this month and what doesn’t, it’s important to prioritize. Food, water, shelter and transportation are some of the key items you need to make sure you are able to provide. Then tackle the creditors. Reach out to each one and explain your situation. You may find that some are easier to work with than others with delayed payments, so the rest will need to get paid first.

Stay Positive

Staying positive can make almost any bad situation seem a little more bearable. As the bills come in and our debt total keeps increasing, it is hard not to get swept up in it all and think you will never get back on track. But if you can keep a positive mindset, you will see it is much easier to deal with the set back you are currently facing. Remember that what you are going through is temporary and won’t last forever.