These 4 Things mean you are struggling with Money

You are earning money every month but the four below mean you are struggling to make ends meet

  1. You Have Money Challenges Every Month

If you are struggling to make payments by the middle of the month every month, then you are most certainly facing an income crisis.

You should be able to feel comfortable every month with the money you earn and the lifestyle you lead but if every time before your salary comes in you feel like it is already spent before you receive it means you definitely have more month than money.

  1. You Live On Borrowed Money

Struggling to pay bills and your grocery basket getting smaller and smaller means you are struggling financially. And using borrowed money to manage between paychecks is a bad idea and a sure sign that you are facing an income issue.

  1. You Select Bills

Choosing between which bills to pay does mean you definitely have an income crisis. Take the steps both in the short term and the long term to fix this situation.

You may need to start something on the side to help you. You may need to look for ways to reduce your bills like moving to an area with lower rent or selling your car and downgrading your digital satellite television bouquet. It is important that you do something about your situation as quickly as possible instead of selecting which bills to pay and which to avoid.

  1. There is Nothing More To Cut

When you look at your budget to find extra money, you cannot find anything else to cut. In fact you live on a bare-bones budget and you are already doing without a lot of other things and do not have anything to cut out.

If you have cut everything you can and you still cannot make ends meet then you have a serious income issue.  Below are 5 quick tips to help you:

  1. Think Before You Spend: When you’re faced with a spending decision, especially a large purchase decision, don’t just assume you can afford something. Confirm that you can actually afford it.
  2. Give Yourself a Limit: for unbudgeted spending as this will make sure the expense will not interfere with anything else you have planned.
  3. Make Sure You’re Paying the Best Prices: For big ticket items make sure you ALWAYS compare prices.
  4. Start an Emergency Fund: Deposit the money into a separate account each month.
  5. Use Your Bank Services: To make sure the money for your emergency is automatically transferred from your normal salary account every month into your savings account.

A Zambian site sharing quick read articles around work, money and adulting life with selective interviews and quotes.
The founder, editor and lead writer who left university with a good grasp of public administration, economics, money, banking and international relations is also qualified in journalism and creative writing. She has been published in Drum and The BBC Focus on Africa Magazine and has been featured in several local and international publications.
An avid bird watcher with an extraordinary fondness for chikanda ( a Zambian delicatessen that vegans and non-vegans world-wide are putting on their bucket list ) she often tweets in poetry and short prose @kwachalelo