You’ve met those people who are truly surprised when Christmas, Easter, or another holiday comes. It’s like they weren’t expecting the pattern of commercialism to repeat itself. How about those who just didn’t seem prepared for the fact that it gets cold in the north and unpredictable in the south? Those people also show surprise when there’s a money drought at the end of the month (usually a few days before the paycheck). Here are a few ways to prepare for the impending money drought.
3 Ways To Overcome Money Drought
1. Budget For The Lean Times
Getting paid monthly really sucks. At the end of the month, the cupboards are running bare and many are drawn to the merits of that lowly jar of pickles which has been resting in the back of the fridge. Even if the plan is ‘I will spend X per day and nothing more,’ there’s still a plan in place, and it will help spread out the cash until the next paycheck.
2. Have Willpower When You Have Rain
Willpower isn’t really necessary when you don’t have the money. The willpower is necessary when there’s an abundance of funds within your coffers. There’s a propensity to think, ‘just this one little thing won’t hurt’ and by the end of the month, panic ensues because you remember the difference between having and not having enough. Think about it this way: each little bit of willpower that you exercise at the beginning of the pay period will come in handy at the end.
3. Stock Up
Stock up on the items that you know will be used during the leaner times, rather than on frivolous items. When you find great specials on food items, take advantage of them as best as you can so that you will have more for later. This suggestion might seem like it’s going against having willpower, but more… look at what you’re spending and spend it wisely. Stockpiling is considered spending it wisely, unless you’re stockpiling Twinkies.
Instead of having great surpluses in the beginning of the pay period and great droughts at the end, most people want financial stability throughout the month. They want to know that they don’t have to start selling all of their stuff off just to make ends meet. There are very few people out there who really love the struggle that occurs during the last week.
[Photo Credit: Tax Credits]
Emily Hunter blogs at Million Ways to Save, where she looks for the best ways to save you money. Along with tips, she also offers ideas on making money, debt reduction, and making your lifestyle work.