When you have a low income, reading some financial advice online can almost be laughable. Saving $1,000 for an emergency fund, 3-6 months of income, contributing for retirement, and balancing all your expenses at the same time can seem impossible. Especially when you’re living paycheck to paycheck. However, it is still possible to budget and save. Check out this post by Mark and Lauren Greutman at MarkandLaurenG for tips:
-Keep a positive mindset- stay focused on what you need to do to get you out of this situation.
-Recognize that your situation is temporary
-Cut, cut, cut- Cancel your cable. Stop getting your nails done. Create a meal plan and use coupons.
-Make more money- Sure, it’s easier said than done, but you still need to try. Try to pick up some odd jobs, or do some work from home. If you are extremely broke, government programs like unemployment, food stamps, etc, can help get you out of a temporary rough spot.