![]() Stop contributing anything to your retirement account.If you find that you can’t even keep the lights on or afford food, it’s time to get drastic with your budget categories! There are ways to make your budget work on a low income! If you’re struggling to even make your minimum debt payments, it’s ok to stop give your hard earned cash to those credit cards, and instead make sure you can pay your utility bills and make it to the grocery store. This is when you might be realizing that there’s not enough money to tackle your expenses, much less start to pay down debt. Then, look through those credit card statements, loan documents, and credit reports, and figure out how much you owe in debt payments each month.A great way to do this is to print out your bank statements from the last 3 to 6 months (longer if you have a lot of variable expenses) so you can have a better idea of the actual amount you are spending each month. Next, figure out all of your monthly bills and write each of them on your monthly budget template.If your expenses are more than this then we know we need to get rid of some things. Remember, this is ALL you have to work with. ![]() Once you have your free download the first step is to figure out your total income for the month. ![]()
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