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

MAKE MONEY - MONEY GOALS

Last updated March 11, 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

Shopping online has its perks. It's super convenient, but it can be time consuming to find the best deals. Instead of hunting for coupon codes (that don't always work!) and opening tons of browser tabs comparing prices, you can try Capital One Shopping.

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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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Earn cash back on everyday purchases with this rare account

Want to earn cash back on your everyday purchases without using a credit card? With the Discover®️ Cashback Debit Checking account (member FDIC), you can earn 1% cash back on up to $3,000 in debit card purchases each month!2

With no credit check to apply and no monthly fees to worry about, you can earn nearly passive income on purchases you’re making anyway — up to an extra $360 a year!

This rare checking account has other great perks too, like access to your paycheck up to 2 days early with Early Pay, no minimum deposit or monthly balance requirements, over 60K fee-free ATMs, and the ability to add cash to your account at Walmart stores nationwide.

Don’t leave money on the table — it only takes minutes to apply and it won’t impact your credit score.

Apply for a Discover Cashback Checking account today

Ask this company to pay off your credit card debt

If you have a lot of debt, getting out of it can feel stressful (and nearly impossible). Here’s the problem: the longer you put off tackling it, the harder it gets to fix. If you don’t take control of it early on, it can add undue stress to your life for years. But what if there was a way to get out of debt once and for all?

Simple Debt Solutions could help. If you have more than $20,000 in debt from credit cards, medical bills, collections, or personal loans, their representatives might be able to assist you in resolving it.

Best of all? There are zero fees until your debt is resolved, and you could be debt-free in 24-48 months. To get started, just answer a few simple questions. It only takes five minutes or less to see if you qualify!

Try Simple Debt Solutions

Get $50 off and 1 month free with this home warranty

True: You do NOT have to buy a new home in order to get a powerful home warranty. Here’s why …

Choice Home Warranty allows nearly any eligible homeowner to purchase a warranty through them and start protecting their home systems and appliances right away. Home warranties can protect things like your AC, electrical system, dishwasher, fridge, and more when using insurance isn’t an option.

This could easily save you $1,000s of dollars every year … for not much money at all. If you’ve ever had some sort of issue pop up at home, getting this warranty is almost a no-brainer. (It’s crazy how many people aren’t taking advantage of this.)

Choice Home Warranty has serviced over 1 million homes, and operates 24/7/365 — if something covered breaks down, just go online or call to get the process started.3 Even better … for a limited time, get $50 off and 1 month free when you sign up through FinanceBuzz.

Get $50 off and 1 month free here

Unlock up to 10% cash back your first year with this incredible offer

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.

You can earn cash back just by using this card for your everyday purchases — 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. This is great for someone who wants to pay down debt or finance a large purchase while still earning rewards.

Accepted by 99% of merchants, if you want cash back, the Discover it® Cash Back card can help put more back in your wallet.

The best part? There's no annual fee.

Click here to apply now for the Discover it® Cash Back.

Stop Overpaying When You Shop Online

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

FAQs

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

Everyone defines financial freedom in terms of their own goals. For most people, it means having the financial cushion (savings, investments, and cash) to afford a certain lifestyle—plus a nest egg for retirement or the freedom to pursue any career without the need to earn a certain salary.

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

7 Big-Picture Life Changes to Consider
  1. Negotiate a Higher Salary. ...
  2. Switch to a Higher-Paying Job. ...
  3. Get a Second Job. ...
  4. Discuss Having a Stay-at-Home Parent Go Back to Work. ...
  5. Move to a Cheaper Home. ...
  6. Take in Roommates. ...
  7. Relocate to a Cheaper Area.

What to do if you're financially struggling? ›

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.

How do you prioritize money if you dont have enough money? ›

How to triage your bills
  1. Take care of basic needs first. Housing and electricity are essential to your health and safety. ...
  2. Next, take care of bills that help you keep your job. ...
  3. Then think about your credit cards: These shouldn't be your highest-priority bills to pay when you're up against a wall.
Jun 6, 2023

What do financially free people do? ›

Everyone defines financial freedom in terms of their own goals. For most people, it means having the financial cushion (savings, investments, and cash) to afford a certain lifestyle—plus a nest egg for retirement or the freedom to pursue any career without the need to earn a certain salary.

Where do you start when you are broke? ›

no matter how broke you are. Look for a job. This is the most obvious solution, but it can be difficult if you don't have any work experience or skills. There are many entry-level jobs available that don't require any prior experience, such as working in retail, food service, or customer service.

How do you tell someone you're struggling financially? ›

Different ways to say you don't have enough money for professional relationships:
  1. I'm feeling the pinch at the moment.
  2. I'm not sure my bank account will cope with it.
  3. My finances are tight.
  4. I'm on a tight budget.
  5. I'm not sure I can afford it.
  6. I'm in the red.
Mar 16, 2022

How can you tell if someone is struggling financially? ›

That said, there are a few common signs that someone you care about is struggling with debt.
  • Receiving collection letters or phone calls. ...
  • Spending doesn't match income. ...
  • Becoming evasive about finances. ...
  • Continually asking to borrow money.
Oct 28, 2023

What is the 50 30 20 rule? ›

The 50-30-20 rule recommends putting 50% of your money toward needs, 30% toward wants, and 20% toward savings. The savings category also includes money you will need to realize your future goals.

What are 6 common budget mistakes you can t afford to make? ›

Failure to Adjust the Budget: A static budget may become outdated as your financial situation evolves. Life events such as job changes, salary increases, or unexpected expenses can impact your financial landscape. Regularly review and adjust your budget to reflect changes in income, expenses, and financial goals.

How do you survive when you are broke? ›

Follow these steps for effective money management when you're seriously broke:
  1. Be proactive. Don't wait until the collection agencies start calling. ...
  2. Prioritize. Life is all about priorities. ...
  3. Cut back on your savings plan. ...
  4. Avoid relying on credit. ...
  5. Create more income. ...
  6. Make a new budget.
Nov 9, 2022

What percent of Americans are financially free? ›

SAN MATEO, Calif., Aug. 22, 2023 /PRNewswire/ -- Despite most Americans having modest expectations of what it means to attain financial freedom, just 1-in-10 (11%) report they are living their definition of financial freedom, according to a new survey by Achieve, the leader in digital personal finance.

What age do people become financially free? ›

Among the key findings: 45% of young adults say they are completely financially independent from their parents. Among those in their early 30s, that share rises to 67%, compared with 44% of those ages 25 to 29 and 16% of those ages 18 to 24.

Why am I so broke financially? ›

High expenses: If you have recently had a significant increase in expenses, such as medical bills, unexpected repairs, or other financial obligations, this can leave you feeling like you have less money than you'd like. Income issues: A decrease in income or job loss can lead to feelings of being broke.

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 get unstuck financially? ›

Take time to think about what matters most to you. Your financial advisor can help you make a plan to bring these goals to life. Getting financially unstuck usually starts with understanding why you're stuck in the first place. You can then lean on your financial team to find your way through it.

What to do when asset rich but cash poor? ›

Refinancing can be your golden key, enabling you to tap into the value of your assets without selling them. It allows you to restructure your mortgage or loan terms to access equity or better suit your financial situation.

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