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I Don't Make Enough Money To Save!
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I Don\'t Make Enough Money to Save!

There are so many excuses when it comes to saving money and we have heard them all or even said them once or twice ourselves. Many people feel that it is impossible to save money and don't see a point in it. To not see a point in saving is completely ignorant, no offense. Remember that time you're car broke down and you had to shovel out $2,000.00 worth of money that you didn't have to get it fixed otherwise you were gonna lose your job for lack of transportation? How nice would it have been to have savings then? Instead you had to borrow or take out a loan with an outrageous interest rate and ended up spending over $6,000.00 after all was said and done! Talk about a lesson learned. While there are many excuses to not save money, I would like to touch on one I know is common, not making enough money.

No matter what anyone says, you will never make enough money. People feel they aren't paid enough to do their jobs and feel they deserve more and will always be that way. Those making over 6 figures a year feel that they don't make enough. So when does it stop? The truth is, if you are making $30,000.00 a year you need to live like you are making $25,000.00. The problem is people over extend themselves with bills and shiny gadgets. Than there are those who have no jobs and are trying to make it day to day. How do we combat this?

The first thing I do whenever it comes to budgeting is to figure out what your bills are. After you've recorded your bills via pen and paper or an excel spreadsheet, the next step you need to take is to downgrade. What... downgrade? Yes, I said it. What are the necessities and what can't you bare to live without. You need to be very critical of yourself and find where you can trim in your budget.

It's not as hard as you might think.

If you're in a dire situation, cut off the monthly subscriptions to your game. Do you really need cable TV? How often are you really using the things that you pay monthly for? If you're a smoker, change the types of cigarettes you are buying or start rolling your own. Ladies, your nails and hair can wait. Switch to alternatives. I think you all are getting the picture.

But I like these things!

Don't fret. After you've trimmed down your bills as much as possible it is time to look at what you saved in the process. Let's assume you gave up your $15.00 monthly game subscription, $35.00 a month on nails and $80.00 a month for cable TV. That is an extra $130.00 a month that you just freed up. Take at least half of that and put it into your savings account a month. That's $65.00 a month saved. Continue to treat that savings "bill" like your mortgage payment. It needs to be paid or you are going to be out on the street.

Once you find yourself in a better financial situation, up your savings bill by at least 10% and the rest is to do as you wish. Just be sure not to go over your bills. Remember, your savings is your lifeline. Unless you want to fork out another chunk of money when you can't afford it for Murphy's Law.


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