When you have an income problem instead of a spending problem, traditional budgeting advice can drive you nuts.
Not helpful. Because I know that this program will change every aspect of your life. Take a look around. And Kara is a wealth of knowledge about how to deal with an income problem.
How To Budget When You’re Not Making Enough Money
I felt like I was drowning. It felt like it was happening all at once. I met the love of my life, we got married, he joined the Air National Guard and took a technician position, we had a child, and I became a mostly-stay at-home-mom only working weekends when my husband I make good money but I don t have enough money one of our parents could stay with our son. Losing most of my income and then the pay cut my husband took when first switching careers hit us harder than we expected and our savings account drained fast.
Except debt and bills. But how could we get out of debt when we had no money left over? It was a vicious cycle and it truly felt like drowning.
I knew we needed to do something fast. So I did.
5 Surefire Ways to Stop Thinking Your Paycheck is Never Enough
I want to walk you through what we did right and what we did wrong! We Always Stayed a Team. My husband and I tried hard not to let this situation cause problems in our marriage. The decision for him to take the federal technician job was much more of a pay cut than we were expecting but we made that decision together. We also made the decision for me to become a stay at home mom together, so we made it a point to never cast blame or point fingers at the other person.
Because we made these decisions together, we knew we needed to face consequences together. Staying united was so important.
7 Signs You Don't Make Enough Money
We Compromised. He liked to stop at a local gas station every day for coffee, snacks, and sometimes lunch. When I would ask him to stop doing that and he would get frustrated.
We tried a cash allowance so that he could still go to the store but when the cash ran out, he would just start swiping the debit card again. I cut back everything. We were already really conscious about what we were buying. I never bought myself anything, and neither did my husband.
We sold pretty much anything we had that we could live without and we bought our son only the bare robot option reviews food and clothes. Hint: He survived just fine and so did we. We Used Substitutions. My trick for baby clothes was consignment stores for a while until I realized that Old Navy has a killer clearance section. Many of the deals I found there were cheaper than the consignment store!
Byron Katie-MONEY: 'I don't have enough money'. PART 1
If it fxfinpro binary options a great deal I grabbed it regardless of it being a larger size and then I stored them on a rack in my basement.
Sometimes, it just helps to have an outside party take a look with fresh eyes and point you in the right direction. You have an income problem. An income problem! That was exactly it.
That was also exactly why I felt like I was drowning! My husband was working 2 jobs, I was working all the spare minutes I had between my weekend nursing job and trying to make money from home I had started a blog and an Etsy shop along with other smaller things like surveys and using rebate apps.
What else could I possibly do? I actually I make good money but I don t have enough money making money from home While making money from home sounded like the best idea ever, it was a lot harder in practice.
I tried a lot of things before I hit the jackpot. Since I had already started an Etsy shop to make handmade items, but I was spending money to make them and it took so much time to create them and ship them that in the end, I was making very little profit for hours of work.
I knew I needed something that could tackle my income problem, make me more money with less time spent, so I turned to blogging. The turning point was when I started using my natural skills. She said bloggers pay people to make their graphics and I could do that. It seemed like a good way to supplement our income problem. Eventually, because our styles were so similar I started doing graphics for her and some other clients. I declared that by the time our second child was born, we would be financially stable.
And we were! Plus, my husband was able to land a better position with the Air National Guard that gave him active duty pay and benefits. This was a huge help financially and as a bonus the need to work two jobs is finished. As the blog started growing I was also able to quit my weekend nursing job which helped me dedicate more time with higher ROI Return on Investment tasks with my blog.
Making money creating graphics allowed me to re-invest in my own blog. Eventually, I switched gears leaning even more towards my passion for design. Because I knew my target buyer avatar so well that everything blogging-related I had learned from Rosemarie just clicked. I took on more client work for a while. I came up how can you earn money without leaving home a system for our budget that worked for me.
One of the concepts that helped a lot was having a hard to reach bank account. I was able to open up several accounts with USAA and use them as sort of a digital envelope system.
Here's What to Do if You Don't Make Enough Money at Your Job
When my husband got paid, we would pay all of our bills with his first paycheck and then used the second paycheck to pay rent for the next month this ensured that we always paid on time and early. Then, any leftover income I made after paying expenses, setting aside money for taxes, and any investments I made that month we would put that straight towards debt.
Each time I launched a product I was able to knock out another debt. As the debt went downthe money we had leftover each month went up and we were able to put more and more towards the debt.
We did not focus on a savings account during this time. We only started saving money when we decided we wanted to buy a house.
Guess who was able to save up an entire down payment in a little over a month?!? When we were struggling, I really felt like a complete mess. Everything was so unmotivated and down. I was always behind on dishes and laundry and anything else around the house. I was spending all of my time either bloggingmaking graphics, or being with our kids. The mess around us was so frustrating and I blamed myself. Every day ended with not keeping up, which left us further and further behind… Getting the Dishes and Laundry Under Control.
Twitter Peggy James is a CPA with 8 years of experience in corporate accounting and finance who currently works at a private university, and prior to her accounting career, she spent 18 years in newspaper advertising. She is also a freelance writer and business consultant.
She explains a simple dish system that I could actually do even with my hectic schedule. This was something I was seriously implementing when my husband went away for military training.
Income Problem: What to Do When You Don’t Make Enough Money.
Fun fact: if things even start looking slightly out of control I will get overwhelmed and just not do it at all. Anyway, I did the dishes every single night.
This way each morning I woke up to NO dishes in the sink. I immediately unloaded the dishwasher while my kids ate breakfast so that I could continuously load it as the day went on. We also got rid of all but one of our laundry baskets we had 5, not including our hampers. I ran the laundry as soon as that one basket was full about every days.
If Who got rich on binary options would wash, dry, and immediately put it away, it worked. I was determined to establish a routine so I could get caught up with the dishes and the laundry. That step is huge for me.
Income Problem: What to Do When You Don’t Make Enough Money. - The Busy Budgeter
I was able to get it done and not feel like it took up hours of my time to do so. Doing a little at a time was the only way I could be consistent. It never felt overwhelming when it was just one load or a couple of dishes.
Making progress on the finances and our income problem helped the house too. When we were able to start paying off debt and climbing out of the hole, I found myself so much more energized.
I finally felt a sense of relief since I was working less and felt so much more motivated. I was able to keep up with household chores and actually have fun with my kids. Every situation is different so figure out what works best for you.
We went from overwhelming debt to buying a home for our family in a few years by cutting back anything and everything we could along with finding ways to make more money.
We were never going to get anywhere unless we made more money. And I started building an online business that I could scale. A business that had very little overhead costs associated with it like inventory or materials. We Attacked Our Debt We created routines and systems in our house and our finances that helped us pay off debt quickly.
And, once the debt was paid off we were able to save for the things we wanted like vacations and a house. It made us feel like we were never going to get out. However, we also learned so much about ourselves, our marriage, and what we could really push ourselves to do.
But, you can still work together, stay on the same page, have consistent effort and think outside the box of scaleable side incomes using your specific skills and abilities.
Rosemarie actually has an online training called Make Money at Home Master Plan that teaches you how to use your skills and abilities to find an at home job that works for you. And, get the 90 Day Budget Bootcamp and start working through it. The Bootcamp is completely free and is a great place to start getting your finances under control. If your income problem situation is worse and your ability to get yourself or your family the basic necessities are compromised, there are programs that can help you.
I completely understand that not all income problems are the same. The first step is to ask for help. There are also government programs that can help you… Never be afraid to ask for help. Kara is a wife and mom of two. She enjoys spending time with her kids, traveling, and watching murder documentaries on Netflix.
You can find her at simplifyingdiydesign.