We’ve all experienced times when we’ve distinctly felt a hole in our wallets.
Whether it’s having to pay for emergency medical expenses or making a planned investment, such as making a down payment on your dream property, there are many reasons why your finances may end up being stretched to the very limit.
What’s important to remember is that your situation won’t last forever.
You’ll make it through those difficult few months and come out stronger on the other side.
In the meantime, knowing the best trips for saving money and reducing your spending will help you recover more quickly.
If your money is running low, here’s what you need to do:
1. Don’t be afraid to ask for help
Imagine if a friend came to you and confessed that they were struggling financially. If you were doing okay yourself, you’d offer to help them, right? Perhaps you’d loan them some money or take some of the responsibility off their hands while they got back on their feet.
We’d be more than willing to help out a friend in need – so why are we so afraid to ask for help ourselves? Let go of your fear of judgment and reach out to a parent, a sibling, a close friend. A problem shared is a problem halved.
2. Rethink your car insurance
Car insurance is ever-changing, so if you’ve been with the same company for a few years now, it’s likely time for a change. Websites like The Zebra let you compare car insurance deals and see exactly how much you could save on a monthly basis if you made the switch.
3. Pay off credit card loans your way
Credit card loans can be an incredible source of pressure if you’re having money troubles. If you’ve been dodging phone calls and emails from creditors, it’s worth looking for a company that can negotiate your debts on your behalf.
Find a professional who can take the reins and you should be able to lower your monthly payments to a more manageable figure.
4. Try your hand at paid surveys
Getting paid to do surveys is a legitimate thing, but it does take a lot of effort to earn a little. Don’t expect to get a daily salary from doing surveys with companies like Survey Junkie; you’ll be able to earn around $80 a month, maximum. Still, if you just need that extra bit of cash to get by, this could be perfect for you.
If surveys aren’t your thing, there are other ways to earn a bit of extra cash from your phone, too. Some companies will pay you to watch YouTube videos – all in the name of market research – and even play games like Solitaire.
It sounds too good to be true, I know, and in some cases, it is. Make sure to do your research carefully before parting with your personal data in an attempt to earn some easy cash. A quick Google search will tell you instantly whether a company can be trusted or not.
There we have it: 4 simple tips for getting through a tough financial patch.
Remember, regardless of your current situation, it won’t last forever.
Covid has hit us all hard recently, with job losses, the threat of recession, and uncertainty lingering in the air.
But when Covid goes away – as it will do eventually – demand for everything will skyrocket once more, and stability will return to our lives.
You can find more advice on this post by The Penny Hoarder.
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