Does it feel like you are trapped with no way out? Maybe your wallet is empty, the debit card is racking up fees from a negative account, and your piggy bank has already been cracked open, but there are still bills to pay. Maybe it’s just been an unlucky month and you are just waiting till your next paycheck. Maybe an emergency hit, and all your money went down the drain. Or maybe this is just how you live month-to-month with your current job and expenses.

When cash gets tight, it might feel like you have no options and the situation has no ways out. All you can do is try to survive until it gets better. But you do have choices and there are ways to get help.
 

What is the Problem?
 

If you want to fix your situation, you first need to know what got you there. There are a few main reasons why you are low on cash:

• You have a low income and high bills. This is normal for people who struggle regularly with money.
• You spent too much money before paying your bills. This can be from a misallocation of your money and means you need to readjust your priorities.
• Bill due dates and pay days don’t line up so you don’t have enough to pay for expenses at that moment, but could later in the month.
• An emergency happened and you spent all your money. You need to survive long enough till you can recover from the emergency.

If one of these sounds like you, there is a way to improve your life and situation. By using tools and techniques designed for you, you can get through this financial rough patch. You just need to know the reason behind your situation before you can fix it.
 

Get Paid More or Lower Your Bills
 

If the first situation is you, the best solution is to either increase your income or lower your bills. Neither of these can be fixed overnight, but overtime can be improved. 

Growing your income can come in a few different forms. It could be getting a raise or promotion at work, getting a new job, or picking up a side gig or hustle. By bringing in more money, you improve your financial situation and get you more cash to work with.

Increasing your income isn’t always possible, so next you look to lowering your bills. Look at every single bill you have and try to cut costs where you can. Use less electricity and gas in your home to save on utilities. Cut out subscription services you don’t need. Don’t go out to eat and pay for unnecessary items.

One type of bill that is probably a stone around your neck are debts. If you have multiple types of debt that keep your bills high, you need to act to improve your situation. See if you can consolidate your debts into something with a lower interest rate, especially if you have outstanding credit card debts. If you can’t consolidate everything, start putting extra effort into paying off loans as quickly as possible. If you can, put extra cash into debts so you pay off the principal quicker.
 

Budget and Prioritize Expenses
 

If you find yourself regularly without cash, but you are still buying luxury or unnecessary things, you have the wrong priorities in your finances. This can be corrected with a budget that lists out your expenses, organizes them by necessity versus luxuries, and then you stick to it.

It’s common for people with this struggle to not have a written down budget, so that is where you need to start. Gather up how much income you earn and all your expenses from previous months. List out everything that you spent month by month so you can see where your money is going. 

Once completed, list out your essential expenses like groceries, housing, utilities, gas, and debts you have to pay every month. Then, list out non-essential expenses like eating out, shopping trips, and luxury purchases.

Going forward, you make sure you spend your money on the essentials first, keep some extra cash for savings, and then you can spend on non-essentials from what is left over. That way, you aren’t scrambling to pay bills when they come due, but instead pay then first.
 

Financial Flexibility to Get You to Pay Day
 

When the budget is tight, sometimes bills come due before you have the money in your account. This can happen to anybody if when you get paid doesn't work around your billing cycle. For example, you get paid at the end of the month but don’t have enough to pay a bill halfway through the month.

The solution here is pretty simple, especially if you can afford the bill based on your income. If you are just low on cash, use a credit card. 

Credit cards can give you financial flexibility to pay the bill and put off the expense till you get paid. Just make sure you pay off the credit card bill every month after you get paid so it doesn’t accrue interest and make your situation worse.

Pioneer’s VISA Platinum Credit Card is great for this, and you earn Rewards points every time you use it. Pay that pesky bill on time and you earn points you can redeem for gift cards, experiences, or vacations!
 

Surviving an Emergency Payment
 

Emergencies happen and they can drain your cash and savings. Whether it’s a trip to the emergency room, fixing a car, or some other unexpected expense, they can put you in a difficult situation.

A good solution for either paying for the emergency or covering the rest of your expenses is taking out a short-term loan. If you need the cash quickly, many loans like Pioneer’s CashPlease service can help. It puts cash in your hands within days, perfect for short-term, smaller emergencies. This is great for giving you cash now, and you can pay it off quickly when you get your next paycheck.

If the emergency is very expensive, a personal loan like Pioneer’s Signature Loan might be better suited. This is for spreading out the expense and let you pay it off over months rather than all at once.

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