by Sheena Hubbard

Created on: March 05, 2007   Last Updated: May 19, 2007

My husband and I are truly flat broke!

Due to a lot of variables, such as the horrible economy where we live, rising unemployment rates, and a general lack of resources in the wonderful state of Michigan, I now have a personal in-sight on a not-so favorable position that many people come across.

Here are a couple of tips that have been helping us:

1.) Save your Change: It is inevitable that you are going to spend some money and more than likely you will not have the correct change. Grab a jar, canister, anything and start putting all that change that collects on your dresser and car cup holder and put it away in case of an emergency. It might not be enough to pay your bills but it might buy a few groceries or even gas. With coin-stars at every supermarket, $15 worth of pennies isn't such an inconvenience anymore.

2.) Eat at home: $10 at a grocery store along with the odds and ends in your home can fill you up more than the McDonalds meal your thinking about buying (and it is healthier for you)! When you do the math, say you have fast food or take once daily and it is at least $5 for a meal, not much, right? $5 x 7 days a week = $35 So, in a year (52 weeks) thats almost $2000! Thats at the least. This one serves a dual purpose for those who want to lose a few pounds before bikini season!

3.) Be a Bargain Shopper: When it's time to shop, compare prices. Especially on groceries. grocery store chains have sales every week! Make a list of the things you need and PLAN YOUR MEALS so that when you go you only buy things that you are going to utilize. After making your meals, look through the sales ads and the coupons, you can use the coupons on the sales items to get double the savings. If that is too time consuming or a hassle, shop at a discount food store. For example in Michigan (where I live) we have ALDI's basically it is off brand food and is designed for families living in poverty, they have everything you could need from produce to dairy. It is important to get more for your money! Sacrificing name brands to stretch your dollar can only help you.

4.) Only the Essentials: Try not to splurge on things you don't need. Ice Cream at the supermarket, a new shirt or a nice smelling candle you just can't resist, Take a step back and think about your situation and ask yourself if you really have the extra money for something you don't needs.

5.) Organize your expenses: Get a piece of paper or a dry erase board and write down all your monthly payments then total it up, that is your goal for the month. After its done, hang it up somewhere where it will get a lot of attention. As the bills come in write on a calendar the due dates and how much is due so that you don't forget (or have to keep referencing your pile of bills)! Next, mark off each day at the end so that you never lose sight on what you need and when you need it.

6.) NO I.O.U's!: It's tempting when you're broke to borrow money from friends and family but always remember you are just borrowing the money, meaning yes, you have to give it back. In the long run it might be more of an inconvenience than a help.

7.) Earn extra Income: If your schedule allows, take on a part-time job, you will be tired but the extra cash is worth it.

8.) Lastly, Relax: If you stress out too much things become blurry and the obstecles you face seem almost insurmountable! Take a bath, watch your favorite movie, yoga also works, or even a walk outside. Take your mind off how broke you are every once in awhile! You will get through this.

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