Budgeting on a low income can feel pretty impossible. Making ends meet, running out of money each month, trying so hard to make it work on one income..it's tough! That's where learning how to budget on a low income comes in. No matter how much money you make each month, you can budget successfully! My Story For much of my married life, you could classify us as DINK: dual income, no kids. Me and my husband both worked pretty good jobs and made decent money. And our lifestyle showed it. I've always been money-minded, but there was never any driving force strong enough to really make us hit our money goals (like getting out of debt.) We'd try hard at it for a few months, make some progress, then slip back to old spending habits. Fast forward five years, and we had our ... View Post
The Highlighter Budgeting Method
The idea of budgeting can seem a little intimidating (and even scary) if you've never done it before. But really, budgeting is just looking at how you already spend your money, and deciding how you want to start spending your money from now on. The best part is, budgeting doesn't even have to be hard. If you're willing to face what you've been spending, and stop looking at your bank account with one eye open, it can be an incredibly freeing (and even enjoyable) process. If you are a visual learner, like to keep things simple, or you just adore pretty colors, then you are going to love this budgeting method! Let's get started: 1. Print out your most recent bank statement. I want you to use your actual statement, not just a printout of your recent transactions, so you can see every ... View Post
How to Save Money When You Live Paycheck to Paycheck
You may think it's impossible to save money when you’re living paycheck to paycheck. In fact, it's the last priority on your list. I mean, you can barely pay the bills, how are you supposed to save anything for yourself? Not only is it possible to save money when you're paycheck to paycheck, it's vital. The only way to start giving yourself some breathing room in your budget is to stop giving all your money away. You must start putting some money back for yourself, every time you get paid. Here's some super simple ideas to get you started saving money! Related: How to Quit Living Paycheck to Paycheck for Good 1. Make it Automatic A simple and classic way to save money: the automatic bank transfer. Set it up to where every payday a certain amount gets transferred right ... View Post
How to Stop Eating Out All the Time
Going out to eat is one of the biggest budget busters of our generation. We simply don’t have the time to make elaborate dinners every night! Some of us were never taught to cook, and so eating out takes way less time than cooking (and it usually tastes better.) But eating out is terrible on the wallet. For whatever reason, we balk at spending $10 on a 2 pound package of ground beef at the store, but a quick fast food meal for two at around $18 is no big deal. It is a big deal though, especially when going out to eat becomes a habit. It adds up fast! (One great way to see how much you’re spending on eating out each month is by using my highlighter budgeting method. You already know you’re spending too much on food, but you may be surprised just how high that number actually ... View Post
How to Pay Off Debt (When You Have No Clue Where to Start)
So you want to pay off debt quickly, but you have NO clue where to start. You're in the right place! The overwhelm of paying off debt can be enough to stop people before they even start. It's hard to know you've got all this debt out there but not even know where to start with paying it off. I'm here to help take that overwhelm away. :) First I want to reassure you that you're making a great decision! Getting serious about paying off your debt is a huge decision that's going to take a lot of commitment. It's simply easier to spend your money on what's right in front of you that you want than deciding to pay it on your debt instead. But paying off debt has SO many benefits. You'll... Feel less STRESS about your finances Stop having so many money fights with your ... View Post
The Ultimate Guide to Emergency Funds – How to Save for Emergencies
You know you need an emergency fund. You've been told how important having emergency savings is. But how exactly do you do this? How do you save for emergencies when everything else is so important too? I've written this ultimate guide to emergency funds to help you get your emergency savings started in a few practical steps. You don't have to keep putting this off any longer, and the sooner you start saving, the sooner you'll be prepared for whatever life throws your way! Step 1: Decide on Your Amount There are a few different factors you should consider when deciding on how much you should have in your emergency fund. How big is your family? How many different incomes do you have coming in? Popular advice is to start with $1,000 and build from there. I think $1,000 is a solid ... View Post
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