Caroline looked at the Excel spreadsheet on her computer with increasing dismay. “Just three months ago I was able to balance my budget, but now I’m short again by over J$15,000,” she grumbled to herself. “No matter how hard I try, I just can’t seem to keep up with my expenses.”

She reflected on all the developments that had occurred in her life in the preceding months. Her grandmother, with whom she was raised, had fallen seriously ill. As her only relative, Caroline had taken on the task of caring for her, which had thrown her once tightly controlled budget into disorder.

Having another person in the house meant increased utility costs, and she needed to hire a housekeeper to help with the extra cleaning needs. In addition, she had to buy her grandmother’s costly medicines and pay for her doctors’ appointments without the benefit of health insurance coverage.

Initially, Caroline used her credit card to cover some of the pharmacy bills, but after two months she realised that she was having challenges clearing the card balance. After consolidating several loans over a year ago, she was now desperately worried that she was headed back into debt problems. Continue reading When Your Budget Goes Awry →