Living without savings is unfortunately a common occurrence in the United States. Many years ago, our family had to figure out how to live without savings on a daily basis, and it was extremely stressful.
The advice shared when people ask how to keep living when they can’t save is to “figure it out.” Obviously, that advice is neither helpful nor compassionate.
In this post, we’ll share how you can live without savings, and create a realistic plan to start saving money.
One of the biggest reasons many Americans are stuck in the paycheck to paycheck cycle is a lack of humility.
We have this issue with listening to financial advice, talking to others about our financial problems, or even picking up a book about how to be financially responsible.
“I got it” is the key phrase for most Americans who are struggling. In order to get out of this cycle, and finally be able to build up a soliday savings, we have to be humble in the process.
You don’t “got it.” But, you can put yourself into a solid position with help.
Set A Budget Right Now
You may think I’m crazy for requiring this while you are struggling to make ends meet, but it’s so important to do right now.
When you make a basic budget, you are able to see where all of your money is actually going, and you can see the holes where you repeatedly cannot makes ends meet.
For example, you are in a monthly deficit of $150, that helps you focus on finding a way to bring that $150 into your home so you’re not stressed when it’s time to pay bills.
Focus On The 4 Walls
After making that basic budget, are you sure you are taking care of your 4 walls?
You may be asking what the heck the 4 walls are. It’s the lines in your budget that make sure you keep a roof over your head, electricity and water in your home, and food in your belly.
- Rent or Mortgage
- Electric bill
- Gas bill
- Water bill
- Grocery budget
Are all of those things completely covered when you pay your bills? If the answer is no, immediately act on the next tip below.
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Apply For Aid
Similarly to what was said earlier about being humble in your current situation, this tip is simple. Apply for any kind of government assistance you can find.
Food stamps, unemployment or any other program offered were created for those going through hard times. You are going through a hard time. Use the assistance that has been created for you.
And remember: it’s only temporary. Don’t be ashamed of needing help.
Use The Help Offered
This is the time to search for neighborhood programs that either offer free food, free activities for families, or even free job fairs for those looking to start a higher paying career.
The easiest help to find in your area are food banks and food pantries. Food is one expense you can remove from your list, just by using what’s offered at your local food bank.