We could all do with finding that little bit of extra money to make life a little more comfortable couldn’t we? It might not seem possible sometimes, with the rising cost of foodstuff and household items and the never-ending uncertainty over the British economy in the wake of the Brexit result of last year and the current limbo of the economic climate. There are a few things you can do to help save money however, whether for a rainy day and an emergency fund, or for your own leisure purposes.
Arm Yourself with a Budget – The first thing is to plan thoroughly and accurately from pay packet to pay packet. Put together a list of all of your outgoings and incomings financially and put together a spreadsheet so you can see exactly where your money is going and what you get for that.
Save for Something – If you are saving just for the sake of it, it’s unlikely that the habit will stick. Set a realistic goal of how much you wish to set aside each month, and have a reason in mind to entice you to do so as habit. This could be to pay off a specific debt or to save for a holiday.
Cook Meals at Home – Cut down the eating out, whether at lunchtime when you can make your own lunch and take it to work, and of an evening time (of course you should allow yourself some treats from time to time). Cooking at home will drastically cut down your spending.
Take up Walking – Whether you have your own car or use public transport, by walking whenever possible you are cutting down on your travel costs severely. This will also add to your overall health.
Be Smart with Purchases – For certain items it makes sense to buy in bulk to get a discount and save money, but for other items it is smart to pay that little bit more now for an item that will last much longer, and work more effectively as a result.
Don’t be Impulsive – Whether you are browsing an online store or a physical retail shop, if you have seen something that you like and want to buy, give yourself a time out. That way you can take a step back and think about whether the item is something you actually need or really want to buy.
Look for Free Events – During evenings and weekends it is nice to spend time with friends and family out and about. It doesn’t always have to be for drinks, a meal, or to a ticketed event. Keep an eye on your local area for free events, or locations where you can go and enjoy nature for free.
Be Careful with Borrowing – Live within your means wherever possible and if you do need to borrow money only do so after thorough research, using responsible lenders to ensure you can pay back within the agreed repayment timeframe.
It is possible to save money without living like a hermit, it just requires some patience and careful planning.