There’s no question that, financially speaking, things are a little rough right now. The prices of food, gas and other necessities are going up, raises aren’t exactly forthcoming and credit is getting hard to come by. Just about every financial guru seems to be telling us to tighten our belts.

But what if you’ve already tightened your belt?

If you’re already living a fairly frugal life, it can be hard to find anywhere left to cut back. Maybe you’ve already cut back on all the luxuries, taken on a roommate and started brown bagging your lunch. Maybe you’ve gone over your budget, eliminating nights out, cable and new clothes. Maybe you feel like when it comes to cutting your expenses, you’ve hit a dead end.

Reducing your expenses is the fastest way to start saving money, admittedly, but it’s not the only way to get yourself out of a tough money situation. It’s time to explore other options.

Up your income

If lowering your expenses helps balance your budget, think about what raising your income can do for it! Assuming you like your job, the place to start is by asking for a raise: explain to your employer that you’re dealing with rising costs and you’re having trouble getting by. Many businesses are in tough spots as well, but if your boss likes your work, he or she will try to help, at least enough to keep you on the job. After all, it’s cheaper to give you a small raise than to hire an entirely new employee.

If your job isn’t so great, it may be time to go job hunting. You’re more experienced then when you took this position — you might be able to land something with a better paycheck. Taking on a second job might also be a possibility. Even a few hours stocking shelves can make the difference in your monthly budget. (And, if you’re working more hours, you aren’t out spending money.)

Consider striking out on your own, as well. You can start your own business after work — freelancing, crafting small items or anything else you can think of can be an opportunity. Entrepreneurship has the added benefit of flexibility. While a second job will require you to work specific hours, even when you really need a break after work, your own business can be run on your time.

Ask for help

There’s no shame in asking for help when you need it. Help doesn’t need to be monetary, either — maybe one of your biggest expenses is daycare. If you have help, like your parents, other family or even friends, you might be able to reduce the hours your children spend in daycare, and the money you spend on that service. This sort of help doesn’t need to be one-sided, either. You can trade all sorts of things, without bringing money into the equation. Either way, though, no one will help you out if you don’t ask.

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We face enormous societal pressure for buying a house: it seems to be the major goal for just about every family. And those houses that we’re supposed to buy seem to all look pretty similar: a single family home with a nice back yard in the right neighborhood and with the right appliances. But if you’re planning to slap down a big stack of dollar bills, it may be worth thinking outside of that single family box. After all, that sort of home is guaranteed to be expensive — while it is an asset, beyond a little appreciation it won’t make you much money.

But there are some housing options that might be a better fit for you. Consider these four ideas.

1. Consider a multi-unit property. Most of us aren’t in the financial situation where we can afford to make payments on an entire apartment complex, but you may be able to find a duplex or other building with just a few apartments in it in your area. Then, while you live in one unit, you can rent out the others. In most areas, rent from another unit may be enough to cover your monthly mortgage payment. And depending on the size of homes in your area, you may even be able to convert a large single family home into multiple units. The house I grew up in was actually divided this way: the basement was a separate apartment from the main level.
2. Combine living space and office space. If you run your own business — depending on the type of business, of course — you may be able to use one property as both your home and office. Doing so even gets you an extra write off on your taxes. Having worked out of my home for several years, though, I do have one piece of advice: maintaining boundaries between ‘home space’ and ‘office space’ is crucial. Ideally, you shouldn’t even need to walk clients through your ‘home space’ to get to your office space.
3. Look at non-traditional living spaces. While most people seem to look for the largest house they can get for their money, it’s worth considering going for an unusually small home or even a space that wasn’t originally built as a house. A small house, for instance, is cheaper to maintain, heat and power. And if you were to choose a building with multiple purposes (a friend of mine lives in a converted garage, for example), you may have an easier time selling the property later on.
4. Join forces on a home. Rather than limiting your home to you, your spouse and your children, you have the option of sharing space with a few other people. In the past, it was perfectly normal for Grandpa or Grandma or Auntie to move in, and it’s still an option today. You may choose to make financial arrangements or agree on services, like childcare, that your new roomie might take on. But don’t limit your house to just you.