How to budget when you don’t have enough money to pay the bills
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One of the biggest things that got me through those very lean times was use a Prioritized Budget – only the bare essentials and basic necessities were allowed on my budget.
I simply did not have money to spend on anything else. Period. And I had to be ok with that.
We couldn’t do what everyone else could do or say we should do. It was a matter of doing what was best for our family to survive – not impressing anyone else.
Food, lights/water, housing, and transportation were paid first, with everything else being prioritized in order of importance. When I got money, I went down the list paying whatever was in order until that check was gone… picking up where I left off with the next check.
If there wasn’t enough money to pay everything, some items had to get crossed off my budget that month… that was the only option I had.
Even if you’ve tried budgeting before, please take a deep breath and try it again. Lay out your budget with the basics to survive first and prioritize everything else until every dollar of your income has a name.
I know these seem like simple changes that won’t do anything, but they really do make a difference in creating a budget that works.
Then only spend money on what’s on the budget.
If you have a spouse or other family members, show them the budget and pinky swear that this is how you will be spending money this month. There isn’t room for anything else.
CLICK HERE TO DOWNLOAD THE PRIORITIZED EXPENSES WORKSHEET
Getting everyone on the same page will help you all know what is going on so you can work together to be successful.
Remember, right now it is all about survival. When you get through this difficult time and after you have changed the money situation for good… then you can enjoy the luxury of spending money on whatever you want.
- Give yourself some grace and acknowledge all those overwhelming feelings. It is stressful to be in this situation.
- Write down a prioritized budget with the basics listed first, and then agree with your family that there will be no additional spending. On anything. Unless you bring in more income first.
Friend, you can do this. You will get through this difficult time and come out on the other side – better off for it. Just take one step at a time and build up all of the small progresses into a giant money win.
In my next post, I will give you some tips on how to make the numbers work for you and your family.
GET YOUR FREE PRIORITIZED EXPENSES WORKSHEET TODAY. CLICK HERE
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Hi! I’m Charissa. I’m on a mission to help hardworking women overcome money struggles and gain financial peace with a Biblical perspective so they can have the freedom to impact their families and communities. Ready to make some changes that will impact your finances in 2020? Click here to get a free worksheet to help you make it happen!