The sequester is looking more likely, so what are you doing to adapt if your paycheck is cut 20%? Here are a few things you can do:
- Revisit your budget. Develop a new budget baseline. Include the things you absolutely must have. This means your rent/morgage, utilities, groceries and transportation budgets. Track them with Mint. What you can’t track, you can’t cut.
- Cut your luxury expenses. Calculate the amount of money you spend on wine, beer, and/or cigarettes per month. You will be very surprised how much you probably spend.
- Find a part-time job. Work at part-time at Starbucks, McDonalds, whatever. If you think this too low of work for you, too bad. What is more important to you — Your pride or providing for your family? That should answer your question. If it doesn’t, you have no business having a family.