How to Cut Back When You Feel There Is Nothing to Cut Back

How many times have you read on article on saving money or getting out of debt and it talks about taking your lunch or cutting out your morning coffee? While these are all great ideas, and I’ve even written about them myself, there comes a time when you need more.

I have heard several times, and I’ve said it myself, how do I cut back when I’ve already cut back? For some there aren’t coffees there to cut back on, yet they still need more money to live better or reduce the debt in their life.

It is when you believe that there is nothing left to cut back on that you must make some serious decisions, decisions that may drastically affect your quality of life but will get you back on a better financial path.

You need the basics, food, water, and shelter. Everything else is only a want and is not a necessity. The obvious things to cut back on that you may not have cut back on yet are cell phones, internet, or the television bill. They may not seem like it but none of these are a necessity as you could get a pre-paid cell phone for emergencies or rent movies from the library.

Food and water are two items that you cannot live without but they don’t have to be gourmet meals. Peanut butter and jelly and an apple for lunch can get you through several weeks so you can catch up on a bill and rice and beans can get you through dinner. Do you want to eat the same things every day? Of course not. Are you getting all of the vitamins your body needs? Probably not, but you can make it through weeks, even a month or two with a multi-vitamin, on the very basics of food, especially if you are drinking a great deal of that free beverage we often forget about, water.

If necessary, you can pick up a loaf of bread, peanut butter, jelly, a bag of apples or apples and oranges, a carton of eggs, rice, dried beans, carrots, tuna, and a bag of potatoes that will get you through for very little money. Remember, this isn’t about your favorite meals, its about getting yourself in a better financial position.

Shelter is the other biggie when it comes to needs. We need a roof over our heads but it doesn’t have to be the roof you are under now. Look at selling your house, if possible, and renting or purchasing a smaller place. Some people even rent their home and stay in a smaller house until they get back on their feet and can afford it again. Remember, its just a house, its not a member of your family.

Another option is to take in a roommate. Rent out your basement or a room in your home. This isn’t the best idea for most but it may be for you if you don’t want to move.

Our vehicles, our transporation, are very important to us but having a car isn’t aways a need. If you live in a town with a transportation system of subways or buses then you may need to look at selling your cars and using public transporation. For some, like me, we live in the country and need a vehicle to get anywhere. This doesn’t mean we need two cars. We like having two cars. I like to go to the grocery store when I want and he likes to just take the car without asking if I need it. We like it and we want it but it isn’t a necessity. It is more difficult having one car but we have done it on and off for years as necessary.

Sometimes, when there is nothing left to cut back on, you have to add to the pot instead. If necessary get a second job. Look for online job opportunities, work at the mall or a fast food restaurant. Sometimes the only way to help yourself is to work harder.

What are other ways you can think of to cut back when you’ve cut back already?