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Saving Money in the Midst of Financial Crisis

Guest Post

When you’re in the midst of a financial crisis, it’s important to save money. Saving money during hard times could mean the difference between eating your daily bread every day and going hungry. Being financially strapped is hard enough without having to sit in a dark, cold home because your utilities have been disconnected. You’d be surprised how easy it is to save money at times like this when you take a hard look at what you’re spending money on.

Log Your Spending

The first step you need to take to save money is to get your finances organized. More than likely, you’ve been spending much more money than you can imagine. Putting what you spend in writing will help you become more aware of where your money is going.

Get yourself a notebook and pen and carry it everywhere you go for at least two weeks. Every time you spend anything over a penny, record it in your notebook. Even if you buy something for 99 cents, record it. This will help you accurately understand your spending habits. In time, you’ll realize that you’re spending money on much much more than just your daily bread.

After about two weeks, take a long, hard look at your spending log. Evaluate where the bulk of your money is going and modify your spending habits. If not, when a true emergency arises, you won’t be able to afford your daily bread, and you and your family could go hungry.

Money Saving Tips

Here are some other tips for saving money during a financial crisis:

Start a food storage just in case times get really hard. This will ensure that your family eats healthy meals during a serious financial crisis.

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