No matter how well prepared you thought you were for the future, when the economy took a turn for the worst millions were caught off guard. If you dealt with your own mortgage crisis, you know how wearing this can be. Perhaps hardest hit were those who recently retired or were on the verge of retirement.
Unfortunately, the economy has followed a trend of ups and downs ever since the global economy got on its feet and recently we have been struggling through one of the worse “downs” in decades. People are losing their homes and other things necessary for survival and even worse, people are losing hope. Alright, enough with the doom and gloom! You can get back on your feet; you just need to be thrifty and determined. Don’t lose hope, stay driven and determined and you will be able to ride out the storm.
Here are 4 tips for getting back on your feet after a Florida mortgage crisis.
Tip # 1: Do not buy anything that is not absolutely necessary.
Cancel things like piano practice, soccer or other things that cost extraneous amounts of money. You don’t need these things and as soon as you get back out of debt you can always start back up or even discover new hobbies and interests. It may sadden your kids, grandkids or yourself temporarily but eating and having a home over your head is much more important and will help you to be able to afford activities like this in the future.
Tip # 2: Buy food in bulk.
Go to local grocery stores that sell things in mass quantities. You also need to be careful that you don’t buy more food than you need, as spoiled food is wasted money. Buy a variety of different things in large quantities. After a few months you’ll notice hundreds of dollars of savings. Don’t buy any extravagant or you will end up regretting it.
Tip # 3: Count your pennies.
Save everything that you can. Be mindful of what you buy. For example, if you’re considering buying a name brand gallon of milk, you should buy the no-name brand instead. They still strictly adhere to the safety rules set down by the government. In all honestly you probably won’t be able to tell the difference anyway. And while we are on the topic of counting pennies, gather all loose change you can find (think car, couch or coin jar) and head to your local coin exchange location. Change is valuable and it is often cast aside unfairly. All those coins add up so cash them in!
Tip # 4: Be positive.
This is just a temporary setback in the grand scheme of things. Very few people are in debt their entire lives and currently lenders are more forgiving of poor debt than ever, As soon as the economy turns you’ll be back on your feet in no time. It really is as simple as that. Always be thankful for what you have today and you will be better able to handle what awaits you tomorrow.
Shelly is a writer for TotallyMoney.com, a site that compares and ranks the many options for life insurance over 50 and loans for bad credit.