How To Keep Your Budget Positive When Your Income Goes Negative

Budgeting tips for the tough times

The news seems to get worse by the minute. The stress goes up, the anxiety mounts, and then the next day seems no better.

Some say that this is just the beginning, the tip of the iceberg of challenging times ahead for many countries. Imagine all of the financial losses over the last few weeks and the cascading effect they will have. It is hard to comprehend, to be sure.

There is hope. And we have to keep believing in the hope that we can make it. I believe that we can.

Here are some of my suggestions about budgeting tips to use when your household is struggling with reduced income or unemployment.

  • Cut expenses fast. I don’t mean little things, like your daily donut and latte. I mean cut everything that is not essential. Cut streaming services, cancel subscriptions, stop recurring debits, and many more. Keep cutting as fast as possible.
  • Get side income. Start planning this right away. I’ve written other articles about this. There are so many ways to try to get extra cash, from garage sales, babysitting, selling your used furniture, and making crafts or jewelry.
  • Find work and accept it. Some people in need of a job will pass up on some opportunities because of this reason or that one. You are likely to have competitors in times of crisis.
  • Keep a roof over your head. Above all else, make sure your budget covers your rent or mortgage. If that cost is too high, you may be in the wrong type of home. Consider something less expensive.
  • Lower your food costs. It is easy to find affordable food that is healthy. Think more about potatoes and onions and what you can do with them.

You have to stay calm when things get stressful. Reach out to friends and family when times are tough and you are struggling. You don’t have to ask anyone for money, but you can communicate your situation in other ways.

The world is facing an unprecedented crisis. It has almost never happened when entire countries shut down all schools or stop almost all economic activity. Yet here we are.

Now is the time to take a hard look at your budget, see if you have big expenses, and consider what you can do about them. Work with your partner and find things you can agree on that are unnecessary and eliminate them to improve your budget.

Stay positive and encourage each other. Stay strong in these challenging times. Stay powerful.

Written by

writer and novelist. traveler and adventurer. looking for fun in the sun. chasing the dream. can't stop the feeling that time is going faster.

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