4 of 50

Write now Article Tools

Money management is not one of my strong points. Coping with being flat broke unfortunately is. Over the years I have learned to budget carefully and am working on no longer being flat broke. In the interim, I have learned some fantastic ways to cope with the situation of too much month and not enough money.

Budget. Set a budget and keep to it. Keep track of each and every penny you spend. Are you going out to coffee every day? Invest in a coffee pot and a travel mug. The savings will pay for the coffee pot within a one to two week period. Now go and apply that extra money to your debt.

Whenever possible, walk where you are going instead of driving. You will save on gas, maintenance on your car and you will be healthier for the exercise.

Pay your bills on time. Over time interest on credit cards can add up creating an impossible situation. If at all possible pay more than the amount due on your credit cards and do not continue to use said credit cards until they are paid off. If you have to, cut them in half and put them away. If you cannot afford to pay the minimum payment, then pay as much as you possibly can and contact the company to make further payment arrangements.

Use only cash when shopping. When the money is gone, you are done.

Plan out your menu's a week or so in advance. Be sure to take advantage of any sales at your favorite market. If you have the time combine the sale items with coupons and stock up as much as possible on your budget when your favorite foods are on sale. Go through your cupboards periodically and see what you have in those cans on the very back of the shelf. Can you incorporate those into a meal? Don't let them go to waste. If you don't like baked beans, take them to the next church potluck and let your church friends have them. You will have contributed to the potluck and cleaned out your cupboard at the same time.

Shop for clothing only at 2nd hand stores or yard sales. Have a clothing swap with similar sized friends. If you all go through your closets and take out say 5 items then get together at one of your homes you can have a great time trading those outfits you are tired of and enjoying your friendship. If you are handy with a sewing machine you can also sew outfits or remake some from other items you no longer wear.

Have yard/garage sales in the spring and summer months. Weed out all of that excess in your home and get rid of it. You will no longer need to clean or maintain it and it won't be taking up valuable space in your

• 1
• 2
• next page >>

Add your voice

Know something about How to cope with being flat broke?
We want to hear your view. Write now!