#212: When The Money Runs Out Before the Month Does
In this episode, Joshua Escalante Troesh CFP® and Amelie Riendl AFC® explore why households sometimes run out of money before the month ends, how to recognize warning signs, and what practical steps can help close the gap between income and expenses. Josh and Amelie discuss emotional dynamics, spending patterns, budgeting strategies, and ways to thoughtfully increase income. Together, they break down both short‑term fixes and long‑term solutions for getting back on track.
Top takeaways:
- Spot the warning signs: Rising debt balances, shrinking savings, denied loans, relationship stresses, or unusual financial account activity may signal a need to look into your spending.
- Avoid blame: Blame (toward a partner or yourself) shuts down conversations and problem‑solving. Focus on understanding the cause rather than assigning fault.
- Identify the root cause: Determine whether the issue is a one‑time event, an annual expense, or a recurring monthly shortfall. Each requires a different solution.
- Start big: Look for opportunities to change your biggest expenses first (e.g., housing, cars). Even though they’re harder to change, they can be easily ruled out and may have a massive impact if you can find one to change.
- Prioritize what matters: Protect “sacred” spending categories and start trimming low‑priority, high‑cost areas first.
- Introduce friction: Make impulse spending harder—remove saved cards, disable one‑click purchases, and delete shopping accounts.
- Increase visibility: Track spending using software, avoid cash, and set regular check‑ins to understand where you are throughout the month. Before making a major financial decision, set a spending limit that prompts a check-in.
- Analyze impact of cutting expenses: When looking for places to reduce expenses, take time to understand the impact of reducing or eliminating that expense. Instead of going cold turkey, try cutting back slowly to see how it actually impacts your life and well-being.
- Consider income adjustments: Explore job changes, negotiate raises, or pursue small educational steps that boost earning potential.
- Small wins matter: Even closing the gap by $100–$200 a month is meaningful progress. Focus on positive progress, not the total gap.
With awareness, communication, and some intentional changes, you can turn a stressful money shortfall into a path toward stability and confidence.
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