Making the Best Choices in Bad Circumstances

completely broke no money

Sometimes bad things happen in life. More often than we would like, they all seem to happen at once. You lose a job, then get hit with big medical bills, and then all of your appliances quit working at once. Or, your spouse dies leaving you with no income and while you’re trying to stretch your meager savings, you find out you need a new roof and you have termites. And then you get laid off. When life conspires against you it’s tempting to throw your hands in the air and say, “Forget it. I can’t make this work,” and file bankruptcy or just give up and settle into a miserable existence.

While things are never great when you’re facing awful circumstances, y


[Continue Reading at]

This entry was posted in Budgeting, Debt, Frugal, Personal Finance, Saving Money and tagged , , , , , , , . Bookmark the permalink.

4 Responses to Making the Best Choices in Bad Circumstances

  1. Minny says:

    We have always taken the ‘grasp the nettle’ attitude. We had endowment policies to pay our mortgage. Just three years from the end we were told there would be a substantial shortfall.

    This left us with a difficult choice to make. We did not want to extend out mortgage or change it to a repayment. What we decided to do was to make the shortfall, to pay the maximum allowed each month by out mortgage company and to save.

    To do this we went on an ultra frugal money diet. Got rid of one car, cable, found the cheapest in out utilities and generally lived a very frugal life. The internet was a brilliant source of information. We also took on extra work where we could. We did a complete money makeover with the Martin Lewis website. From the forum we learned so much about living frugally.

    When the three years were up we had three times what was needed to pay the shortfall – it was unbelievable! But many people we discovered in the same situation simply buried their heads in the sand. Suddenly they were telling us we had been ‘lucky’, yes, we were lucky in that we are people who deal with problems that arise. The majority of people in that situation could have saved but it would have meant giving up their pleasures. In the end all it did was to defer the giving up of pleasures,

  2. Minny says:

    Sorry, got off the point there. What I was trying to say was it is only by grasping the nettle that problems get dealt with.

  3. Gail says:

    Minnie still a terrific example of what happens when you decide to make things work and not waiting to the last minute to deal with it.

  4. Shirley Brown says:

    Great Advice Thank you.

Leave a Reply

Your email address will not be published. Required fields are marked *