Struggling To Make Ends Meet? Here’s What You Should Do


The coronavirus pandemic has had a very negative impact on the global economy. As a result, many people have been left without employment, and for a lot of them, this translates to an accumulation of debt and an uncertain future. However, even if you found yourself in a similar situation, you should know that you have plenty of options to improve your finances. Here is what you should do when struggling to make ends meet.

struggling with money

Set Up a Budget

If you are struggling to pay your bills, you will really need to be careful about what else you’re spending your money on. The best way to ensure you are buying only the necessities is to have a realistic budget and follow this to the best of your ability. It might be a good idea to write down each transaction that you make in a spending diary. Whether you use cash, credit, or debit cards, ensure you note them. Depending on your budget, you can revise this on a daily or weekly basis. This will help you determine where you can pull back a little bit more and improve your shopping habits. The latter can also be beneficial for your budget. For example, changing the supermarket where you get your groceries can help you save you a lot on necessities alone. Opting for public transport or bike ride can reduce costs even more, leaving more money to pay your monthly bills and debts.


Many of us love the convenience that the different subscription services offer, but with a tight budget, you might have to go without them for a while. You may want to cancel that gym membership you never use, or ditch any online streaming and newspaper subscription, or food delivery services as well. Though removing these may have an adverse impact on your mood – which you probably also struggle with – it has an excellent purpose. Remember, the more money you can pool into recovering from debts, the sooner you will be able to return to a better lifestyle.

If you are able to move, it’s also advisable to look into more modest housing options, as is downsizing your car, if applicable. Many vehicles use a fraction of the fuel that the most popular models do. They might not be the most attractive cars, but they will help you save that money you desperately need.

Seek Financial Help

First of all, you should research whether you are entitled to certain government benefits due to your dire financial situation. Aside from seeking out a charity that helps people struggling to make ends meet, this is one of the easiest ways to get help reorganizing your finances. Both the government and charity organizations will look into your situation and expect you to meet certain requirements. However, their assistance will usually be free of charge.

While private money lending institutions will charge you a fee for their services, the interest is a lot lower than that of most banks. That being said, locating a suitable lender can be challenging, even with the many options you might find in Singapore. For this reason, it’s crucial to look for the best certified money lender Singapore can offer to sort out your finances. After all, getting the best out of a loan doesn’t only mean filling the gaps in your budget. It can also help you get the boost you need to move ahead with your business venture or seek a better future in any other way.

Prioritize Your Finances

Aside from managing a tight budget, you should also make a list of your existing monthly obligations and debts and rank them by priority. Bills like mortgage, rent, and income tax should be on top of your list as these can be secured against your home. If you are able to, contact the body responsible for these debts and try to work out a new repayment schedule with them. Depending on your previous payment history, if you owe money to licensed debt creditors, they might be open to freezing your interest for a while. This can be helpful if you need to leave non-essential debts further down the list.


With the right tactics, you can avoid getting into more debt and slowly work toward financial freedom. Of course, this means a lot of sacrifices, but making them will still be a much more desirable option than facing an uncertain future. Whether you are responsible for only your finances or there is a family depending on you, an improved financial situation will also improve your quality of life. With that being said, the more stretched your budget is, the more of these tactics you will have to employ to move ahead.



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