7 Things To Do If You’re Barely Scraping By Financially (2024)

MAKE MONEY - MONEY GOALS

Last updated March 29, 2024 | By FinanceBuzz Editors

You’ve got just enough money in your bank account to last until Friday … but then Monday rolls around, and you’re in the same situation. Again.

Food. Bills. Rent. Gas. They dry up every bit of your take-home pay.

But it doesn’t have to be this hard. With a few smart moves, you could supplement your income — without doing much extra “work,” or even getting a side job!

Here’s what to do:

Stop overpaying when you shop online

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Pay no interest until 2025

Imagine getting an introductory 15 months with 0% interest on a big purchase or balance transfer (APR then 17.24% - 28.24% Variable). Sounds great — right? You could dramatically change your financial picture with one of the industry-leading no-interest cards — the Discover it® Cash Back(Rates and fees).

Cardholders get a generous intro APR of 0% for 15 months on purchases — that means you can cover bills, large purchases, or whatever you need to charge and not pay interest until 2025!

If you want to kick high-interest credit card debt to the curb, this is one of the leading get-out-of-debt cards available. Transfer your high interest debt to this card with a 0% intro APR for 15 months on balance transfers. Your payments can go directly to paying down your balance without incurring a pile of additional charges. That could save you hundreds of dollars in interest!

The best part? The Discover it® Cash Back card is accepted by 99% of merchants, boasts an exceptional cash back rewards rate, and there's no annual fee.

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Get rid of $25,000 in credit card debt

The amount of outstanding debt you have is an important factor in your credit score. If you have a lot of credit card debt or you've been missing payments, it could be negatively impacting your credit score.

Freedom Debt Relief can work with your creditors to reduce credit card debt and get your finances back on track without needing a loan.

You could resolve your credit card debt in as little as 24-48 months with one low monthly payment, even if you don’t have great credit. The sooner you get your debt under control, the sooner you could start to work on improving your credit.

Freedom Debt Relief is America's largest debt company and has settled over $17 billion in debt and served over 1,000,000 clients. Take action now and start working toward a debt free future.

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Don't let home repairs drain your bank account

Did you know if your air conditioner stops working, your homeowner’s insurance won’t cover it? Same with plumbing, electrical issues, appliances, and more. Not being able to make repairs could leave you in a bad situation — but a home warranty could protect you against surprise expenses.2

Whether you’re a brand-new homeowner or you’ve owned your home for years, a plan from Choice Home Warranty could pick up the slack where homeowner’s insurance falls short.

If a covered system in your home breaks down, you can call their hotline 24/7 for assistance to get it repaired. They have a network of over 15,000 technicians that can assist you, making sure any issue can be taken care of swiftly — without breaking the bank.

Not sure if it’s for you? Rest easy: they were named one of the "Best Home Warranty Companies" by US News 360 Reviews and were awarded Best Company's 2020 Consumer's Choice Award. For a limited time, you can get your first month free when you sign up for a Single Payment home warranty plan.

Get a free quote

Unlock up to $1,070 value over the next year with this incredible card

There's a credit card that's making waves with its amazing bonus and benefits. The Discover it® Cash Back(Rates and fees)card has no annual fee, andDiscover will match all the cash back you’ve earned at the end of your first year. This generous welcome offer and the top-notch cash back rewards provides an estimated $1,070 value in the first year!

The excellent $1,070 first-year value is estimated through the FinanceBuzz Credit Card Rewards Valuation Model based on spending, the welcome bonus, and the annual fee. The actual value will be determined by how much and in which categories you spend, but this card makes racking up valuable rewards easy! Earn 5% cash back at different places each quarter up to the quarterly maximum when you activate, including gas stations, grocery stores, and restaurants. Plus, you'll earn 1% cash back on all other purchases automatically. The welcome offer combined with the up to 5% cash back reward rate could be worth up to 10% cash back!

This card also offers an intro APR of 0% for 15 months on purchases and balance transfers, then APR 17.24% - 28.24% Variable. To top it all off, the Discover it® Cash Back is accepted by 99% of merchants, and there's no annual fee.

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7 Things To Do If You’re Barely Scraping By Financially (2024)

FAQs

7 Things To Do If You’re Barely Scraping By Financially? ›

If your current budget doesn't balance or you're barely scraping by, you may need to look at working overtime, getting a second job, or possibly getting a new, higher-paying job. Often there is work that pays more, but the nature of the work is unattractive.

What to do when you're barely scraping by financially? ›

If your current budget doesn't balance or you're barely scraping by, you may need to look at working overtime, getting a second job, or possibly getting a new, higher-paying job. Often there is work that pays more, but the nature of the work is unattractive.

What to do if you're struggling financially? ›

Facing financial hardship
  1. Food assistance. ...
  2. Unemployment benefits. ...
  3. Welfare benefits or Temporary Assistance for Needy Families (TANF) ...
  4. Emergency housing assistance. ...
  5. Rental assistance. ...
  6. Help with utility bills. ...
  7. Government home repair assistance programs.

What to do when low on cash? ›

Seek community loans and assistance

Local community organizations may offer loans or short-term assistance to help with rent, utilities or other emergency needs. Religious groups may make small loans at low rates.

How to stop being broke? ›

How can I stop being broke?
  1. Stop spending more than you make.
  2. Budget your monthly earnings to have money left over.
  3. Increase your earnings through higher pay or working more hours.
  4. Start acquiring assets.
  5. Stop acquiring more debt.
  6. Save up an emergency fund.
Dec 21, 2022

How to get 1 month ahead on bills? ›

How Do I Get a Month Ahead?
  1. Create a budget (it needs to be a zero-based one to give you an accurate picture).
  2. Fund your expenses for this month.
  3. Once you can fund expenses for this month, start funding expenses for next month.
  4. Rinse and repeat. ...
  5. Experience the blissful peace of getting a month ahead with your budget.

How to prove financial hardship? ›

Be prepared to show:
  1. the reason you are experiencing hardship, for example a letter from your employer or a certificate for an illness.
  2. your current income and other major financial expenses, such as other loans.
  3. what repayments you can afford.

What percent of Americans are struggling financially? ›

More than half of Americans (58%) report being able to live within their means and not worry about making ends meet, while fewer than half (40%) feel they are in good or great financial shape, and one in four (23%) say they are in poor shape.

Are Americans struggling financially right now? ›

Most Americans Are Still Struggling Post COVID-19

Contrarily, the wealthiest 20% of households still maintain cash savings at approximately 8% above pre-pandemic levels. Ultimately, with inflation taken into account, the majority of Americans are worse off financially compared with before the start of the pandemic.

What do you call someone who is financially struggling? ›

bankrupt exhausted impoverished indigent insolvent needy penniless poor poverty-stricken strapped.

Why am I struggling so much financially? ›

It may be that you have too much credit card debt, not enough income, or you overspend on unnecessary purchases when you feel stressed or anxious. Or perhaps, it's a combination of problems. Make a separate plan for each one.

When to stop helping someone financially? ›

If assisting someone else is overtaxing your time, energy, or resources—stop! Even if you agreed to do something, if the cost becomes too great, whether that's financial or emotional, you can back out or adjust how much you can help. If you are harming yourself, that is not helping.

How to get money fast? ›

How to make money fast
  1. Become a rideshare driver. ...
  2. 2. Make deliveries. ...
  3. Help others with simple, everyday tasks. ...
  4. Pet sit. ...
  5. Sell clothes and accessories online. ...
  6. Sell unused gift cards. ...
  7. Earn a bank bonus. ...
  8. Take surveys.

How to get cash quickly? ›

9 ways to get fast cash
  1. Personal loans. A personal loan can give you cash fast. ...
  2. Lines of credit. Taking out a line of credit can help you get cash when needed without taking out more than you need. ...
  3. Payroll advance loans. ...
  4. Credit card cash advance. ...
  5. Retirement account loans. ...
  6. Life insurance loans. ...
  7. Community loans. ...
  8. Title loans.
Dec 8, 2023

Is it normal to struggle financially? ›

According to data from PYMNTS, 61% of American adults live from check to check, but you don't have to exist one pay period away from catastrophe to struggle financially.

Why am I struggling so bad financially? ›

It may be that you have too much credit card debt, not enough income, or you overspend on unnecessary purchases when you feel stressed or anxious. Or perhaps, it's a combination of problems. Make a separate plan for each one.

How do you overcome financial shame? ›

How to overcome money shame
  1. Share how you feel about money. It isn't always easy to talk about money. ...
  2. Understand your money triggers. Think about what's behind your money shame. ...
  3. Focus on ways to move forward. As you explore what you're feeling, think about how you can change the narrative.
Jun 6, 2023

How do I turn my life around financially? ›

Browse through each to determine if there's room for improvement or if you are good to go:
  1. Get your overspending under control. ...
  2. Create a new budget. ...
  3. Find a budgeting app you like. ...
  4. Make a will. ...
  5. Protect your savings from inflation. ...
  6. Prepare for rising interest rates. ...
  7. Prepare now for your next major life event.

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