It’s hard to stay afloat nowadays and sometimes it seems like everything is against you. With your endless expenses and constant costs it seems like an impossible task trying to keep yourself above water. Saving money seems unrealistic and inflation continues to rise. There are some easy ways however you can make a realistic plan, and finally get yourself into a good routine with money.
Here are seven simple steps to follow.
Analyse Your Spending
Analyze your typical spending for a month and see what you can do to change things for the better. This may be simply eating at home more, or taking a pack lunch to work. Could you change the way you travel? Or where you shop? Try to learn from your bad habits.
There are even apps to help you keep track of what you’re spending in order to make a realistic budget. Remember to include more expensive things that you don’t do as often for example, nights out and holidays. Draw up a budget as close to daily spending so you won’t stray too far from it. Keep a separate account or card for day-to-day spending and put a limit on it.
Look Into Financing
Do you have financing options for larger payments in your life? If you’re a driver for example, research financing options to help you cope with bigger, yet necessary costs. If you are looking to buy a car, this will be a good option for you to break the price into manageable chunks. Understand your own credit score and how this will affect the money that you can borrow. Pay off any forgotten taxes and bills to avoid having issues with this when applying for financing.
Put Away Your Salary
It’s difficult when you’re on a low salary but if you do get a raise, consider this a bonus rather than a prize. You survived before on less money and you can put the extra to better use in the future. If you’re not satisfied with your salary don’t give up. Keep trying to find something that you feel really compensates for the hard work that you do, don’t settle.
Choose to mostly pay by either card or cash, whichever makes you feel more conscious of spending the money. This will help you to be more aware of what you’re spending. Talk to your friends and decide on money saving options together, share taxis, take turns to cook at home, there are many cheaper ways to have fun.
Check that you’re not overpaying on things like taxes and utilities. Check the meter and bills yourself and don’t just pay without asking questions.
If you want to save money it’s a good idea to think about your options. Do you really need the amount of space you’re paying for? You might want to consider moving to a place and you can also keep some of your belongings in storage.