- Take on a hobby that you can translate into dollars. Can you walk a neighborhood dog? Teach basket weaving? Host a dining room? Baby-sit for your sister’s kids? Do Computer graphics? Consider which of your talents might be worth a few extra bucks and then go out there and do it.
- Take on a part-time job. The holidays are soon coming up, and many people supplement their salaries with part-time retail jobs. Just don’t spend it all on holiday gifts and be sure to bank it into your savings.
- Spend more wisely. We all have our own ways of wasting money. Now see how you can eliminate the ones that you wouldn’t miss. Just saving the dollar you would normally spend on that cup of coffee each day adds up.
- Borrow from a trusted friend or relative. The interest rate is low to nil, the cash is quick-but guilt is even higher. Be sure you have a plan for how you’re going to pay back the loan even before you approach them.
Nowhere to go but up
You can spend your precious time crying in your milk wondering why you have been singled out in this way or you can get busy and look at how this could have happened to you in the first place. You will need to face some touch answers if you want to avoid future financial crises.
Suffering a serious financial crisis is an excellent time to self-assess. Ask yourself where you went wrong, where you’re not paying attention-and how you might be setting yourself up for future financial setbacks. Understanding the answers to these important questions will help you out next time around should the same befall you.
Be prepared before the crisis starts. You won’t be able to anticipate every time a financial burden lands in your lap, but, if you want to be cushioned against it, you have to anticipate the unanticipated.
Be very careful. An emergency fund is set up for . . . emergencies. It’s not supposed to be depleted on a whim and every month. Take a closer look at your expenses these last few months, and if you have had to lean heavily on your emergency account to pad your budget, it’s time to rethink your money management issues and in a hurry.
Pay special attention. Take a page out of this lady’s book…she noticed that her towels were slightly singed when she took them out of the dryer one day. Instead of calling the repair guy, she shrugged it off-until the next load caused her entire house to go up in flames. We all have these same moments where we glimpse a potential crisis hovering on the horizon and do nothing until it is all too late. Pay attention to the smaller details and avoid the larger calamities.
Plan further ahead. Your clutch is likely going to give out every 80,000 miles or so. The roof can give out every 15 to 20 years. A vacuum cleaner might give up the dust in as much as five. Avoid the obvious and pay excessively later. It is your call.
Your five-year-old desktop is getting creaky. You could wait until it dies. However, according to Murphy’s Law of Money, it will expire at the worst possible moment. Either way, paying for a new computer might not be part of the budget so planning ahead gives you some control over when you take the hit. Start to plan today for what you know will be coming-come hell or high water. Plan smartly for the inevitable.
Related posts:
- Small Business Owners Who Manage Cash Flow Well Profit Tremendously
Starting a business is always a tremendous undertaking. It is the most stressful undertaking a person could ever attempt to do. Most new business owners fail to understand that running a business is a complex operation, which will require the business owner/manager to pull many hat tricks to stay afloat.... - How to Cope with a Cash Crisis
If you are hit with a serious money crisis and you find yourself scrambling around for emergency money, here’s how to assess your situation and get back on your feet. All of a sudden and without warning, your roof begins to leak! Your hot water heater shuts down and your... - Emergency Money Strategy while Dealing With Debt, Financial Stress & Family
Financial stress is common among those forced into frugality because of a lost job, divorce, death in the family, or being overcome with debt, etc. This can cause a person to feel insecure, fearful, anxious, angry, and, of course, depressed. These same feelings are easily the number one cause of... - Use SEO Strategies to Increase Web Traffic
Every new technology adopted widely by society brings about a number of new opportunities. The movable type printing press created affordable print information, the telephone and radio created the concept of instantaneous communication over great distances. Today, the Internet has unified both of these concepts into the information explosion that... - Are You Paying Too Much For Traffic? Increase Clicks 40-Fold With This PPC Strategy
In any business, if you can reduce your effective advertising expenses, you will increase your profits. Many business owners will opt to push the additional savings into more advertising, and if you are utilizing the information described in this article, you could feasibly increase your paid traffic by 40-times, with... - Business Turnaround: Stabilize Your Environment with Positive Cash Management
A good business turnaround requires you to stabilize your environment; without this step, your business will likely remain unprofitable. Maintaining both a positive cash balance and abiding by a smart budget is vital. Maintain a Positive Cash Balance The best way to maintain a positive cash balance is by spending... - Balance Transfer: Can It Get You Our Of Debt?
The offers are tempting: 0% for six months or 4.99% for 12 months on balance transfers. Sure, you can cut your rate and pay your balance down faster. But, like everything else in life, do your homework. Banks are in the business of making money, and the only way they... - Increase Your Sales With Blog Marketing
A savvy and free way to increase your business sales is through blog marketing. No matter what business you’re in, you can increase your business with a focused blog marketing campaign. You may shy away from blog marketing because you feel that you might not be a good writer, or... - Increase Your Traffic With Linking
Linking is an easy way to get quality traffic to your site. Unfortunately many do not uncover the true potential of this cost effective form of marketing. Many just try one form of linking and then give up because they do not see the results they want. There are many... - How To Sell Your Products Online And Cash In On What May Be The Only Recession Proof Industry
Tens of thousands of people all over the globe are quietly cashing in on what may be the only recession proof industry — at the very least it’s one of few industries maintaining consistent and enormous growth! These people… well, these are just regular folks who have decided they want... - Built-in Trust: Increase Sales Exponentially with a New Breed of Strategic Partnerships
Wouldn’t it be nice if you could bypass the competition and get in front of hundreds of qualified prospects who are looking forward to talking with you? No cold-calling or expensive advertising. No sales calls to people who don’t understand what you do or the value of it. No waiting... - Consolidating of High Rate Credit Card Debt with a 401K Loan
Banks are putting the squeeze on even their best long term card holders at a time when other sources of credit, such as home equity loans for example, are harder to come by. A lot of people are shocked to receive notices that their credit card rate has jumped to... - You Can Receive Cash Every Day From Online Sales Of A Product That Already Exists And Is Selling Like Crazy!
Hi, this is Casey Moher. Your internet marketing business pivots around several key ingredients that make it hum. You can find many products out there that can be great cash-generators for you. Creating a unique product can be great, but it holds several pitfalls for the people using this approach.... - Increasing ROI by Improving Business Sustainability in a Cash-Strapped Economy
During times of economic uncertainty and staggering consumer confidence levels, companies seek alternative measures to increase business sustainability. Businesses incur additional costs to cover operational expenses; however, companies unintentionally waste their revenue on excess supplies and inefficient policies. Sustainable businesses generate additional revenue through targeting environmentally conscious customers, and... - Learning to Cope with a Money Emergency
Wherever there are money woes, you can be sure to find crippling emotional setback. Avoid it all you try, you might just as well begin to prepare for the devastating fiscal and the emotional fallout that is sure to come. You will need to cope very well with both if...