If you find it hard to buy necessities every month, (remember our discussion on values, we are talking about needs, not wants) then income may be your problem.
Before you blame your current job as the reason for your financial trouble, you should take a look at your values. Are you spending too much money on wants instead of needs? If your current job is really the root of your financial problems, here are some questions to think about…
- Do you like your job?
- Could you work more hours?
- Is it possible to “move up” in your current job?
- Do you need more skills?
- Are your benefits sufficient (health, retirement etc.)?
Finding a Solution to the Problem
- Is more education required? There are many community colleges and technical schools that can help individuals gain the skills they need to be more successful in the work place. A person doesn’t always have to go back to school to get those extra needed skills. There are resources such as workforce services or vocational rehabilitation centers that will assist individuals in gaining the skills they need to be more successful.
- Getting a second job for a period of time may help relieve financial burdens. Temporary job services can assist in finding employment for the holidays or any other temporary time.
- Are there any tax benefits available? Some families can increase their with holdings to get more money back each month. Consult an accountant before doing this; you may be required to pay more taxes at the end of the year.
- What talents or hobbies could be used to make extra income?
- Baby sitting children
- Selling baked goods
- Selling craft items
- Selling handyman services
*Be creative and take the time to brainstorm!
- Families with children that are old enough to get summer or holiday jobs can help to reduce the financial strain. Children can learn valuable life skills when they are responsible for buying their school clothes or paying for their own entertainment. Parents can discuss with their children what would be appropriate.
Learn to work smarter not harder…
be creative and try something new!
Read more about it:
When Income Drops…
Take Stock of Family Resources
Take Stock of Community Resources
Setting New Priorities for Spending
Plan to Pay Creditors and Protect Family Welfare
Financial Fitness Fact Sheet