Why You Don't Have Any Money Left At The End Of The Month (And What to Do About It)

Friday, August 3, 2018

Living hand to mouth is something that most people associate with the very poor. What it means is that you are spending as much as comes in and only just covering your costs. Sadly, it's not just those folks that are on the breadline that live in this way. In fact, many who we would consider average Americans also live on a month to month basics having little left over at the month end to save or invest. Luckily, by reading the post below you can find out why this is happening to you, and what tactics you can put in place to prevent it.

You have unnecessary subscriptions.

Beauty boxes, TV shows, and even cook-them-yourself meals are all things that you can receive via subscriptions, and there are a lot of other items besides. However, if you are paying out a regular sum each month, and not using your subscription you are throwing money down the drain.

Therefore, if you have no money left at the end of the month, its first necessary to review any subscriptions that you are paying for to see whether they are still worth the investment. What this means is that maybe you decide to go for one TV subscription service rather than three, that you buy a cheaper beauty box and save the extra money, or that you even terminate your subscription at the gym, if you haven't been in the last six months.

Your grocery bill is eating your budget.

One area that US families regularly overspend on is their grocery bill. In fact, many people end up buying so much that they cannot eat it before it goes off and then throw it way. Something that is not only a waste of your money but also of the resources that go into rearing or growing that food too.

Luckily, reducing
your grocery bill isn't as hard as you may think, and there are lots of strategies you can put to good use here.

The first is to plan meals night by night and only purchase the ingredients that you need directly. You can even make this more cost efficient by prepping all the meals as soon as you have bought your shopping and then freezing them. An action that will ensure that any food waste is kept down to a bare minimum?

Also, it is possible
to use coupons to save on your shop. In fact, we are lucky in America because we have a unique coupons system and its one that can result in significant savings if you do things right.

To that end, if you are considering using coupons, be savvy and double or triple up where you can and start to create a stock of very cheap or even free food. Then you will not have to buy these items in each weekly shop as regularly, and this can help to keep your bill down.

You are covering costs that are not your responsibility.

Another reason that you may not have anything left in your bank account at the end of the month is that you are paying for things that are not your responsibility, and you may not even be aware that you are doing so.

For example, you may be struggling to meet medical bills if you were involved in a car accident that was caused by someone else.

To rectify this situation its vital that you consult with a
car accident lawyer that can analyze your case, and make a claim for any compensation that is owed to you. Then this can be put towards paying off your medical bills, something that can leave with a much more considerable amount in your account at the end of the month.

You get sucked in by impulse buys.

What many US citizens don't realize is that there is a considerable amount of psychology that goes into the advertising and placement of certain products. For example, lower-priced treat items are often places near to the cash register in a store to tempt you to buy on impulse.

Sadly, impulse buying may be the reason why your bank balance isn't looking as healthy as it could at the end of the month. The reason being that such purchases are often not planned or accounted for and can act as a drain on any funds you do have.

To that end, it best to avoid impulse buys, and even 2 for 1 offers if you didn't plan to purchase the product in the first place. Otherwise, it may be difficult to get to a point where you have a substantial amount to save or invest at the end of each month.

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