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Try these tips from financial experts to lighten the financial burden and the stress of a thinner wallet.
Also check out what poor people waste their money on.
Get Serious About Budgeting
Not everyone follows a strict budget.
Then look at what, if anything, youre currently putting aside for your future self.
You dont want to pull back onsavings, even when your income dips.
Get into the habit of saving.
Pick an amount you are comfortable setting aside from each paycheck even $10 a paycheck adds up quickly.
Erika Kullberg, founder ofpersonal financewebsiteErika.com, recommends changing your budget now to reflect your future reality.
If its not feasible to replace everything, prioritize and save for the most crucial items.
But other items work just as well secondhand as they do new.
When it comes time to buy, go for used items, adds Croak.
Some used furniture (indoor or outdoor) looks brand new.
Some electronics and appliances work like new.
The same goes for many clothes, toys, and kitchenware.
Explore Free Hobbies
They say the best things in life are free.
So are many of the best experiences.
Theres always a cheaper wine that tastes better, if youre willing to taste blind.
Cut Subscriptions
We often dont realize just how much we spend on subscriptions every year.
Christine Devane co-foundedBrightfin, an app that helps you track your spending.
Look at your recurring expenses to see where you could cut.
Often that includes canceling some unused subscriptions.
House Hack
Housing makes up thesingle greatest expensefor most families by a lot.
For that matter, you could rent your entire home on Airbnb when youre not using it.
Get creative and brainstorm ways to let other people cover your housing costs.
Explore how you’re able to supplement your income, urges Devane.
Studies show that more than half of Gen Z have a side hustle.
But do this sustainably the activity you choose has to be something you truly dont mind doing.
Tim Fung foundedAirtasker, which connects people to local odd job talent.
Websites likeGovBenefits.govcan guide you to programs like SNAP or local resources like food banks.
Its better to know about these before youre in dire need.
You probably werent miserable.
You found a way to make it work.
Lastly, dont be afraid to share your fears withfriends and family.
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