The Squeeze Is Real: What to Do When Expenses Keep Climbing
A reader recently asked, “What do you do when your expenses go up but your income doesn’t?”
That’s a good question—and one so many people are asking right now.
Have you noticed it too? Your paycheck has stayed the same, but somehow everything around you got more expensive overnight. Groceries. Gas. Rent. Insurance. It all adds up, and before you know it, you’re wondering, Where did my money go?
You’re not imagining it—costs really are rising. But feeling stuck doesn’t mean you’re out of options. You still have power over how you respond, and sometimes that response starts with awareness and small, intentional steps.
Let’s talk about what to do when expenses climb but income stands still—and how to find calm and clarity in the middle of it all.
Start with Awareness—Not Anxiety
First, take a deep breath and get clear on where your money is actually going.
Pull up your bank and credit card statements for the last 30 days. Highlight your fixed expenses (like rent, car note, and insurance) and your variable ones (like food, subscriptions, and personal spending).
The goal isn’t to judge yourself—it’s to see what’s really happening. Awareness gives you power.
Prioritize Your Non-Negotiables
Some bills can’t wait—like housing, utilities, transportation, and minimum debt payments. Make sure those are covered first.
Then ask: what can temporarily be reduced or paused? Maybe it’s streaming services, dining out, or that subscription box you forgot you even had. Small cuts across multiple categories can add up faster than you think.
Redefine “Needs” vs. “Nice-to-Haves”
Inflation is forcing all of us to make value-based decisions. Instead of cutting everything fun, focus on intentional spending.
Ask yourself:
Does this purchase align with what I truly value?
Will I still care about this a month from now?
You don’t have to live in deprivation—just decide where your joy is really worth the cost.
Find Opportunities to Increase Income (Even Slightly)
Sometimes, you can only cut so much before there’s nothing left to trim. That’s when it’s time to expand the top line.
This might mean:
Asking for a raise (backed with your contributions and results)
Taking on a small freelance project
Selling unused items around your home
Turning a skill into a weekend side hustle
Extra income doesn’t have to be huge—it just has to move you forward.
Revisit Your Goals, Not Just Your Budget
When money feels tight, it’s easy to focus only on surviving. But your goals matter—even in hard seasons.
Maybe saving $300/month isn’t possible right now, but $50 is. That consistency keeps momentum alive. Financial peace isn’t about perfection—it’s about progress.
Build Accountability
You don’t have to figure this out alone. Having someone to check in with—an accountability partner or coach—helps you stay grounded and make decisions that align with your goals, not your stress. I believe small, consistent steps lead to big financial shifts.
When It Feels Like a Lost Cause
Let’s be real—sometimes even after cutting back, planning, and trying your best, it still feels like you’re treading water. You might think, What’s the point? Nothing’s changing.
I get it. Many people are feeling that same tension right now. But this isn’t failure—it’s a season. And seasons shift.
When you stay aware, keep showing up, and take even the smallest intentional step, you’re building resilience. You’re learning to manage—not just survive—your finances. And that skill will outlast any inflation spike or tight month.
So if you’re feeling like it’s a lost cause, pause and remind yourself: you’re still trying. You haven’t given up. And that’s where hope—and change—begin.
If this season feels like a squeeze, remember—you still have choices.
What’s one small shift you’re making to stay grounded when money feels tight?
I’d love to hear what’s working (or not!) for you.
