Today, I’d like to discuss a sensitive issue with you kind readers . It’s kind of embarrassing and hurtful to the ego but it is something that you might have experienced already or you are going through it or maybe you’ll be faced by it in the future (I hope not). It is a big dilemma on what to do and how to adjust when your income goes down.
Last September 2013, I gave up my job, a family business job! A job I had for years, you can say that since I was born, I was part of the business. It was my safety net and a guarantee that income and money is on it’s way. Always, as right as rain. I had income coming in every week.
And I gave that all up because it made me miserable. I hated being there I love my family but utterly hated the business (but that’s another story). I had a part time online business that was making me money so I saw a way out and after much deliberation and arguments, I decide to just focus on my dreams of building something profitable online and walk away from the “safety net” that I always had.
Needless to say, my income dropped WAYYYY down! My online business is making enough money for me to live on so I’m not in poverty but nowhere close to continue running the lifestyle I had.
So yes, If you’re in this situation, I feel you, I feel your pain. I know what your worries are….
How To Adjust When Your Income Goes Down
Here are some tips and suggestions that I am implementing to deal with a sudden income drop that you should try or at least consider:
I am not eating out as much, I used to dine out 4 / 5 times a week, that has stopped now.
I cook a lot at home and you should too, it saves a LOT of money.
I do not do “impulse buying” like before.
I found this free software that I use to control and budget my expenses.
You should also check out what everyday things might be draining your budget and learn how to put them under control.
As I said, this current situation might be kind of embarrassing and emotionally tough but I promise you, you will get through it. I am 300% sure that my personal situation will just get better and better as I move on in life. It’s just a minor speed bump we have to tackle.
So if you maybe lost your job, got demoted, your business is slow, your partner lost a major income, whatever it is just remember that it’s ok. It’s not the end, at the end of it all it will be alright.
So keep your head up, learn some money saving tips and just wing it.
Thank you for reading what came to be my most personal writing on this blog, I hope you find the tips useful.
Drop us a comment below with your thoughts and share this little article with somebody who might find it useful
I thank you again,