Saving in times of difficulty

Ellen Says: Starting a budget may seem like an impossible task, especially when the numbers just won’t balance and you have a shortage (meaning you have less money coming in each month than you have going out) and even worse, if this continues year after year.

Our family is living proof that even when your numbers don’t add up you can not only survive it, but you can also get out of debt, get back on track and finally start building your savings! That old saying we dread to hear... "What doesn’t kill you makes you stronger!" is actually very true. The struggling part isn't much fun, but hey, being stronger is a good thing.

My husband and I belive that the people who have saved money on a regular basis survive these times with much lesser difficulties than others who haven’t. So if you are one of the people who have gone through such situations try to evaluate your way of spending and then make sure it does not happen again.

Saving money is a form of art and not everybody can do it successfully. So you should have your own plan to prevent yourself from getting into a situation where you will be out of money when it is required the most. Recession or economic crisis are unavoidable and can affect anyone and at anytime for that matter. Maintaining savings accounts and earning money was never that easy and it wouldn’t be easier anytime soon. So when you have to spend money make sure that you are spending on something that you will make use of.

Managing your money well does not happen overnight. It is a process that can take many years to work through, but one that is well worth the extra effort, commitment and determination that it takes to succeed.