Too Much Month at the End of the Money

Written by , January 31, 2011

Pay checks do not seem to last as long as they use to. It seems that as each month goes by, there are more days than there are dollars. The belt squeezes tighter and tighter until it seems impossible to breathe.

The rising cost of all the essentials – including groceries, fuel and other similar items – are stretching budgets to their limits. It can be scary to find that at the end of the money there is still way too much month left.

It may look like everything that can be done has been done, but when there is too much month left at the end of the money; it is time to dig a little deeper or make some drastic changes. Here is some advice on how to stretch the monthly income, and potentially take some drastic actions as a last resort.

  • Cut back to the bare bones of the budget. That may mean that you have to do away with cable television or extra cell phones. The more monthly bills you can eliminate, the closer you will get to making the income and the outflow come together.
  • Talk to your lenders. Never wait until you are behind on bills to have a conversation with those holding the notes. They will be more inclined to work with you when your accounts are up to date. You may have to agree to additional fees or other new terms, but it can be a temporary solution until you can find more permanent means of stretching the income.
  • Start selling things. Any extras you have sitting around the house – like that extra cell phone that you just turned off or an extra car that is not used very often – needs to go now. Use the income to get ahead on the monthly bills or to pay off any debts in full that can be managed.
  • Ask for a raise. If you are unable to find the right ways to reduce payments, you have to find ways to increase income. Talk with your boss to see if getting a raise may be a possibility.
  • Look for a second job. Find some time during the day that you can take on an extra job. Dedicate all of that income to paying down debt in order to reduce the overall expenses that must be paid out each month.
  • Do all that you can do. Then realize that you just are unable to do any more than that. As a last resort it may be that you have to allow the bank to take back the house or cars or let the credit card companies force you into court. Remember the mistakes that got you in this place and plan a future that does not repeat the same mistakes.
  • Finding little ways to add to the income and cut the budget can help to end the times of lack. It may also require letting things go temporarily, or even permanently. Learn from the past and set a new course for a better financial future starting today.

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