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Managing household expenses can be challenging during the best of times, but it’s especially challenging when you’re facing financial difficulties. With Americans spending an average of 45% of their income on household-related expenses, it’s especially important to find ways to maintain your home environment even when money is tighter than usual, be it through unemployment, a reduction in working hours, or an unexpected expense such as a large medical bill.
It’s important to remember that, while things might seem difficult, there are plenty of ways in which you can stay comfortable at home while navigating financial uncertainty. In this post, we’ll run through five key strategies that will help to keep your home comfortable, nourishing, and budget-friendly.
Prioritize Essential Costs
When facing financial difficulties, it’s best to take a “wallet closed” approach. By that, we mean stopping (or pausing) any unnecessary expenses, and instead focusing solely on the essential payments. For example, making sure you have enough money to pay your rent/mortgage, canceling any subscription boxes/auto deliveries/other luxuries. It can also be recommended to cancel any streaming subscriptions, especially if you use them only irregularly or if you’re subscribed to multiple services. The internet is awash with free entertainment that can keep you entertained until your financial situation improves.
Apply for Assistance
It can be stressful to navigate a reduction in income, especially if you’re unsure of how you’ll pay for necessities, such as your energy bills and food. However, it’s important to remember that there is often help available for people in this situation. If you’re entering winter and you don’t know how you’ll pay to keep your home warm, then get HEAP. It’s an energy assistance program designed to help people pay for their heating costs. You may also qualify for SNAP or other food assistance programs, which can reduce the stress of having to pay grocery bills when money is low.
Switch to Budget Meals
Staying well-fed is key to keeping your mood and energy levels up, which is especially important when going through a difficult period. Alas, with grocery prices rising, it’s becoming even more expensive to fill the fridge. Temporarily switching to frugal meals is an effective way to eat well without breaking the bank. There are plenty of budget-friendly meals that are both filling and delicious. Buying ingredients in bulk can also help you save significant money.
Sell Unused Goods
Did you know that the average home has 36 items that they could sell on eBay/other marketplaces? Take a look through your home, and you might just find that you can make enough cash to keep your kitchen cupboards stocked for the next couple of months.
Maintain a Calm Home Environment
Finally, remember the importance of staying calm and relaxed when going through a difficult period. Prioritizing comfort in the home can make all the difference to your stress levels. Create a calming environment, make time to relax, and do progress-related tasks (such as job searching) outside of the home, such as at a library.
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