With the current economic recession, millions of people in the United States and other parts of the world are living in dire economic circumstances. When an individual has to use all of his or her money to survive, it may not be possible to save money for an emergency. The following guide provides simple tips and tricks on how to survive paycheck to paycheck.
If an individual has a very limited income, it’s important to avoid any unnecessary expenses. If one works hard and plans ahead, it may be possible to enjoy more luxuries as time passes. However, it’s essential to avoid giving oneself an excessive number of luxuries during this time.
For example, television is a waste of money. A monthly satellite or cable television subscription can cost $50 a month or more. Since these services don’t really help one get ahead in life, they should be eliminated for the time being.
The Internet may also be an expense that one can cut out of his or her life. However, it’s important to evaluate one’s Internet usage to see if it can increase the chance of finding a better job. If an individual is simply using the Internet to watch Youtube videos and have fun, it may be a good idea to cut it out of one’s budget. However, if an individual is using the Internet to connect with potential employers and apply for jobs, it’s a good idea to keep it.
However, it may be possible to save money on an Internet connection by signing up for a package with less bandwidth. In many cases, modern Internet connections have several tiers. The more expensive tiers can be used to watch videos and play video games. The basic Internet tier can be used for browsing web pages and sending email. In most cases, people can get by with just a basic Internet connection. This can be a great way to reduce one’s fixed costs.
It’s also a good idea to evaluate one’s cell phone usage. While cell phones are expensive, they are an important part of modern life. In many cases, it may not be possible to receive a call back from a potential employer without a cell phone. However, it’s a good idea to look for an affordable cell phone plan that meets one’s needs.
Cell phone plans can vary significantly in cost. Instead of choosing an expensive smartphone that requires a contract, try to find a basic cell phone that can be used for calls and text messaging. This is more than enough for most people’s needs. In many cases, it’s possible to get an unlimited text and chat cellular package for less than $50 a month.
While health insurance can be expensive, it’s essential to not go without it during an emergency. If an individual has an expensive medical bill, he or she could owe a hospital tens of thousands of dollars. In many cases, it’s possible to buy a basic health insurance package that will help one cover finances during an emergency. These are often available for $50 a month or less.
It’s also important to evaluate one’s vehicle usage. If an individual doesn’t need a vehicle, this can be a great way to save on the monthly expenses of gas, taxes and vehicle insurance. Comparing insurance companies is always a good idea.