What happens if you or your husband get laid off or leaves a job? It happened to Leah, and it’s happening to many American families right now. One of the first things you’re going to want to do is curb your spending -- immediately. Too many people wait too long to make changes, hoping that things will find work more quickly, or simply not realizing what a huge difference all these daily cost reductions add up to. Here are a few ideas on how to do so:
1)Cut out all extras!This includes text packages, land lines, cable, and household services like getting yard work done or cleaning services.
2) Eat at home and bag your lunch EXCLUSIVELY!Buy your groceries on sale only (this is no time to be brand loyal -- go for affordable!) and buy in bulk. Give up take out or fast food, because it’s always more expensive than what you could make at home, and it goes without saying -- no Starbucks!
3) When shopping for groceries or anything else, ask "Is this a luxury or a necessity?" ONLY BUY NECESSITIES! You will find most things to be luxuries. It's amazing how much we can actually do without.
4) At home , reduce all utility usage.Turn off the lights, turn down the heat, light a fire, don't let the water run , no 20-minute showers , wash in cold water only, and replace dead bulbs with incandescent ones. Get all family members on board -- this is a team effort!
5) If you must replace clothes or some household items, shop at thrift stores.There are plenty of people even of adequate means who choose to shop at thrift stores, and often find clothes for next to nothing -- some with tags still on!
You can make your unemployment go much longer, or if you have another breadwinner in the family, you CAN live on one income. The peace of mind you will have by not adding to your debt, or depleting all savings, is worth it!