The only constant in life is that circumstances will change, and they will change more frequently than you may think. There are good times when you are enjoying your position and there are tough times, when you have to make tough decisions, especially when it comes to your finances. Basically, when things get tough, cash becomes slim.


A lot of the time, your circumstance changes because of things quite outside of your control. But, even though you may not be able to control the price of a barrel of oil or the economy as a whole, there are things you can do to free-up your finances a little more, protect your future and ride out the storm that is currently raging on your porch.

Read on to see how you can get through any tough times that turn up ahead:

1. Be Brutal With The Luxuries

When times get tough, only the essentials should survive. So, take your spending off autopilot, write down everything you buy and how much it costs, and then go through that list with your most brutal friend or advisor. We know it sucks, but you should only spend money on things that you absolutely, positively need to buy.

2. Never Rule Out Refinancing

If you are in a home that you want to call home for the foreseeable future, then refinancing your house could be a very smart move. Of course, most people think you need to have a good credit rating in order to do this, but that is not always the case as the Willow refinance team suggests. Anyway, the reason you should consider this route isn’t just because it may free-up some cash, but because it may also make your monthly repayments more manageable. So, do the maths and see what you could save.

3. An Emergency Fund Is Essential

The average a family spends on unexpected costs is over two grand. That is quite a substantial hit to take when you get blindsided by it. However, if you plan for this, then you won’t find yourself in such hot water should a major disruption threaten to make your circumstances even harder. The aim is to have an emergency fund with three to six months’ worth of expenses put to one side, but even a thousand will help you make it through the rough times a lot smoother. No one knows when these costs will arise, so just be prepared.

4. Get Your Debt Down ASAP

The less debt you have, the easier it will be to smile through the hard times and that’s because you won’t have interest suffocating you. As such, try and avoid getting into debt and absolutely avoid using credit unless you are paying them off in full at the end of each month. Otherwise, the rule is cash, debit or checks only. That way you won’t spend more than you have or can. When the money is gone, it is gone. Get into the habit and you will find your circumstance don’t need to get any worse than they have to.