Are you living paycheck to paycheck? Or do you feel like you never have money?
We used to feel this way too. It seemed almost impossible to even make it from one paycheck to the next.
We definitely had a difficult time making it work and the surprising thing is that even when the income goes up so do bills and expenses.
It is a never ending cycle unless you have a system in place for keeping track of the money coming in and what it is spent on every month.
So here is what I did to make one income work for a family of 8.
First, WRITE EVERYTHING DOWN
This really helped us see where our money is actually going every month.
Write down all money coming in.
Then, write down all your bills for the month, amount due, & due dates.
After calculating all of your monthly bills then start budgeting what is left for food, gas, tolietries, and any other essentials.
Whatever is left can be used towards savings or something fun.
This will vary from person to person depending on our financial situtions, but writing everything out can really open your eyes at what money is being spent on and how much is coming in.
Is it enough? Do I need to make any adjustments? Do you need to make more money?Now is the time to make those changes.
This leads me to my next tip, FIGURE OUT NEEDS VERSUS WANTS
Take a look at everything you wrote down. Is there anything you can cut out because you don’t really need it?
This part is tough because we may feel like we work hard for our money and we deserve to spend it, but if you find yourself not making it until the next payday then cuts are necessary.
It can be as simple as taking lunch to work instead of eating out or cutting out that monthly subscription box that keeps sending you the same products any way.
Identify what you need to keep and what you can really do without for now.
Next, TAKE A LOOK AT ANY DEBT
What kind of debt is it?
Credit card debt, in my opinion, is at the top of unnecessary debt that many of us can do without.
PAY WITH CASH WHENEVER POSSIBLE
And save that credit card for true emergencies such as unexpected car repairs. Try to pay cash for everything else.
If you find yourself running to the credit card for anything other than emergenices than it is time to examine your bills and cut back on those expenses.
After some research on social media, an overwhelming amount of you don’t even look at the details of your bills every month.
I can honestly say from experience that once I started paying attention to what I was actually being charged for on my bill, that is when I could really focus on what I could cut back on to save money.
One bill that I realized I could cut back on was my internet bill. I started paying attention to my usage a lot more via the app through my service provider and we also pulled the plug to the internet every night which greatly improved the bill.
This works well if your service provider is like mine and they give you a monthly data cap. Those overages can add up if you aren’t careful.
We also find that planning our weekly meals has helped keep those costs down.
Food is expensive, but there are definitely ways to save on groceries too.
Using the Ibotta app also helped give us cash back on a lot of the items we buy all the time. Every time you go to the grocery store, find offers for cash back on things you buy every day on the Ibotta app. It is really simple to use Ibotta and it gives me extra money to spend on myself.
Planning meals around items that are on sale and buying fresh fruits and vegetables is at the top of my list for ways to keep the grocery bill down.
Lighter meals for breakfast and lunch have also helped. Leave the hearty meals for dinner time.
My very last tip for improving your finances is that if after all this you find you are still struggling financially, look into ways to make some extra income.
There are some great ways to make some extra money from home, have multiple sources of income, and still have a flexible schedule for your family.
I give some ideas for making money from home for free HERE.
I am also building my own health and wellness business right from home. No inventory and everything can be done right on your computer or phone. I teach other stay at home parents how to be successful in this business too. Leave me a message on my FB page or DM me on Instagram for more info on this wonderful opportunity.
Let me know if you found these tips helpful and let us know what has helped you save more money!