If you are dead broke, then you are definitely near rock bottom. You are still not at rock bottom because you can do something about your miserable situation. It’s never too late to uplift your finances. Until your money situation improves, here is a list of essential survival tactics you should know about:
Taking Public Transportation to Work
When you are dead broke, cars are a luxury. You probably don’t have the money now anyway to pay for gas and insurance. You can sell the car and use the money to pay down debt. A better alternative is to rent your car on a monthly basis. There will be tourists, people staying in your town temporarily, and those who don’t want to pay insurance who will be interested in renting. Make them sign a contract with damages included, and then take public transportation to work. You can cycle if you have your old bicycle still around the house and it will cost you even less than taking the local bus or the subway.
Avoiding Vacations and Having Fun at the Local Park
If you are broke, then no more vacations for you. But you shouldn’t spend your time sulking either. Head out to the local public park to have a picnic, a stroll or catch Frisbees. You won’t have to spend any money, and the fresh air and green scenery will help you clear your head. There will be other no-fees-required options for you to have fun. For example, instead of flying to Bali, you can go to the local museum for free.
Learning to Disconnect
Monthly cell phone subscription plans are quite unaffordable to people who are broke. You will need to cancel your subscription to save money. Instead of buying those “unlimited” plans, settle for a limited plan. Learn to disconnect so you will spend fewer data and send fewer texts. If you want more control on how much money you spend on your smartphone, buy a top-up card plan.
Cutting Back on Leisure Time to Work
As a broke person, you don’t have time to laze about. It’s time to spend those remaining hours of sunlight in the afternoons doing a second job. Don’t waste any time finding a second job to increase your income. Use the funds of this job for your basic necessities, savings and for paying down debt.
Freelancing on Weekends
When you are at home, consider freelancing online to make even more cash. If traveling to a second job is problematic for you, then it’s best to start a freelancing career from home. You will have to do odd jobs online in the beginning. Once you become more experienced and prolific, you will be able to find better paying online gigs and finally end your financial destituteness.
Learning to Cook Cheap Recipes
Don’t count on eating lobster and ravioli when you are broke. Even fast food can be expensive to broke people. So, search online for frugal cooking recipes that benefit broke people and college students. For example, instead of ordering pasta from Pizza Hut, learn to make ramen “pasta” at home for cheap. You will be eating a lot of things like ramen until your financial situation improves.
In addition to the above, you will need to find frugal options to shop too. For example, you may have to give up Whole Foods for the local Walmart. Learn to be a pro couponer to save on monthly essentials.