An expert on motivation has said “Tough times don’t last but tough men do”. And when it comes to facing a tough situation, it can be just any situation under the sun. Here we will discuss how you can survive a financial crunch or the case if you are sensing a financial crunch in near future. If you are already in debt and have to fulfill quite a number of financial obligations, it is mandatory that you take the situation in your stride by opting for a few measures that will help you to tide over the tough times.

Given below there are a few tips/guidelines that can help you sail through. So, read for better insight.

• Budget your expenses – You must have seen elders do the same. It is very important to work out a budget of your finances, which does not just include expenses but essentially your income too. Why is this so? This is because it is crucial to keep track of your finances and find out whether or not you are being able to maintain that much needed equilibrium or not. It goes without saying that you need to have more income than expenses and this is what happens with every sensible individual. Above all, do away with credit cards and use them only in emergency. These plastic cards are nothing but trap. Do not get into fresh debts and do not deal with any direct money lender now. If you have existing debts, try to get rid of them first. In other words, do not take extra financial burden at this juncture.

• Avail discount coupons and promo codes –If you are a shopping freak, you will have to exercise some caution at least during period. And if at all, you need to buy goodies and stuff, it is best to avail discounts and promo or so called coupon codes especially if you are shopping online. The same also holds true when you are shopping for grocery. There are many websites on the World Wide Web that will allow you to enjoy rewards and cash back discounts. Check out for these deals and take benefit of the same. In fact, interestingly, aside from grocery and buying branded stuff, you can also avail budget air tickets as well.

• Eating out less often – Eating out can be fun and there is no doubt that everyone enjoys the same. But when you are not financially in a state to be extravagant, try to restrict expenses that you have to incur on eating out. Alternatively, you can also opt for sharing the expenses among yourselves.

• Saving is the mantra for financially stability –Not everyone has the ability to save and develop this habit. But as a mature individual, it is important that you save for the rainy day. Shed the frills and fancies of everyday life and at least till the time you are not confident about your financial stability, you should exercise restraint in expenses and opt for selective expenditure. Whatever you earn every month, make sure you keep aside some cash for emergency situation.