Ready to sort out your finances and overcome your income issues once and for all?
While we all know how important it is to save money, actually achieving your financial goals is often easier said than done. We tell ourselves that we’re going to put every bit of loose change we have towards goals like a vacation or new home, but the truth is that every month, we continue to spend money on things that we don’t really want or need.
Fortunately, you can make a positive change to your cash situation. You just need to start by developing the right attitude towards saving money.
Here are some of our top tips to get you started.
1. Plan Your Spending
Do you often get to the end of the month and wonder where all of your money has gone? For a while, it feels like you’re making a mistake with your math, then you dive a little deeper into your bank balance and discover all of that extra cash you’ve spent on things like coffee when you’re on the way to work or a sandwich from a local café.
Debit cards, credit cards, and online shopping make it a lot easier for us to spend money without realising how much we’re using. However, if you plan every spend, you can reduce your chances of waste. For instance, decide how much you’re going to spend on food shopping, then just take that amount of cash out with you to the supermarket. If you see something else you want, you won’t be able to buy it, because you won’t have enough money on you.
2. Look at Money in a Different Way
One good way to improve your chances of spending less money on wasteful things, is to reconsider the way that you think about money. For instance, rather than just telling yourself that you could buy a £5 meal at a local café and avoid cooking for yourself in the immediate moment, ask yourself how you’re going to benefit from each investment in the long-term. Sure, the immediate benefit of buying your sandwich is that you don’t have to cook for yourself. However, in the long-term, you end up with more wasted food at home, and less cash in your pocket.
On the other hand, if you take out a loan for a car via a site like Readies.co.uk, and that car allows you to go to work and earn more money every day, then the amount you earn outweighs the amount you spend. It’s all about looking at the value that you’re going to get from every purchase.
3. Become More Self-Sufficient
You’d be surprised how much money you can save if you just learn how to do a few things for yourself. Learning how to cook your favourite meals at home mean that you can get all the delicious benefits of the food that you love, without having to spend a fortune for things like a restaurant dinner, or takeaway.
Learning how to plant your own fruits, vegetables, and herbs means that you can have constant access to fresh food in your back garden, which means fewer trips to the grocery store. Plus, if you have kids, getting them involved with growing fruits and vegetables could mean that they’re more likely to eat what they grow. You can even save money by learning how to do basic tasks around the house. For instance, if you know how to replace your faucets yourself, you don’t have to pay a plumber to come and do it when you redecorate the bathroom or kitchen.
4. Focus on One Saving Strategy at a Time
Finally, try not to push yourself to accomplish too much at once. There’s nothing wrong with being ambitious and setting goals for yourself. However, if you’re unrealistic with what you’re trying to accomplish, and you try to get too much done in one go, then you could end up giving up completely. For instance, maybe you’ll decide that you want to cut down on the amount you spend on clothes and takeaway food every week.
Trying to cut out both of those categories from your spending at once will probably leave you feeling pretty restricted and even resentful of your budget. However, focusing on one small step at a time, like eating out once a week instead of twice, could help you to make lasting changes that you can really stick with in the long-term. Don’t try to go faster than you need to.