How to make your money last when you don’t have a lot of extra cash

When you’re working hard and not bringing a lot home, it may seem as though you’ll never make ends meet. But, fear not! Below are three ways to stretch your hard-earned cash when money woes have got you down.

Set realistic goals
Are you working to save money up or trying hard to stick to a budget? Whatever your financial goal may be, don’t aspire to achieve something that just isn’t attainable. Doing so will only make you more depressed about your lack of dough. Instead, sit down and plan exactly how far your money will take you. Even if it means saving a very small amount or waiting longer to take a vacation, you’ll be glad you’re being realistic and smart about your money matters.

Be careful with credit cards
It sure can be tempting to open credit cards to help pay for things when you don’t have cash readily available. But constant charging can really get you into financial trouble, and quickly. Instead of building bad debt, look for other ways to earn extra cash. Sell clothing or goods you no longer use or check out any one of these interesting ways to make money on the side.

Abide by your budget
When money is tight, busting the budget you’ve set for yourself is a big deal. Unlike those who make more and have some financial wiggle room, you’ll have to work extra hard to abide by your budget. One great option to consider is the 50/30/20 rule, which allocates half of your income to necessities; 30% to the “extras” or “wants” (such as entertainment or dining out); and 20% to those not-so-fun (but important) items like retirement, emergency funds, or savings. Although this is a good option, it’s important that you’re flexible with your budget to ensure that you formulate a plan that’s right for your situation.