When money is tight, it can seem hard to make it stretch to cover all of your expenses. It’s even harder to picture your limited funds getting you the fun things you want to buy, let alone food and gas money. That being said, we’ve got some simple tips to help you make your money stretch a little further. Here’s our advice!
Discipline. It’s not a fun word, or a fun concept. However, discipline is the key to a lot of fun things when you apply it correctly. Self-control is what keeps you from doing something ill-advised, like buying every little thing you want on credit and then getting buried in credit card debt. Trust us when we tell you that delayed gratification is a good thing.
Do you really want to be struggling to pay off credit card debt? It’s hardly fun, so exercising some restraint is in order. If you feel like you’re the kind of person who would abuse a credit card, consider simply not having one. Many people just use their finances the old-fashioned way, only spending money that they have.
Often, people think that having a small amount of money means that they shouldn’t be investing. However, the opposite is true! If you’re working on a small budget, setting aside some of your savings to invest into dependable stocks is a great idea. This will allow you to reap some rewards over time. As your money makes you money, you can reinvest it in those same dependable stocks.
This allows you to grow your money even as you’re working to earn more. Self-control is once again key: just because you’ve got the money in stocks doesn’t mean you should cash it out as soon as you’ve turned a profit. Instead, let the money accrue its interest and work for you. Over time, you’ll build up a sizable savings!
Sometimes the right call is to cut things out that you can live without. If you’re getting your morning coffee from a coffee shop every day, you’re probably blowing through a lot of money over the month. Consider a lower-cost option, like brewing your own coffee at home. It’s not as glamorous, but it makes your money stretch!
When it comes to limited funds, there’s a lot you can do to even the playing field. Just make sure you’re being responsible with your money, make cuts where you can, and invest whatever you’re able to. In the end, you might find yourself out of a tight spot just by making some lifestyle changes.