Budgeting Tips That Put More Cash In Your Pocket!
Do you want a debt-free life? If you’re reading this advice then you have made it past the acceptance stage of your financial situation and are ready to take action. Good for you. You have accepted you need some help with better managing your money, that you need to squat upon some money-saving hacks, things you can do every day. Well, if there is one thing for sure, it’s that you’ve come to the right place. Read on to find the best budgeting tips!
It All Starts With A Budget
The government can’t make an economic plan without having a budget in place, and neither can you. This means making a budget which lists all of your weekly expenditures. Organisation is key to financial bliss. Everything expense needs to be jotted down, including the amount you plan to save because, well, that will make it a no-go amount. Once you’ve done this, stick to it. Seriously. No excuses. None.
Urgh, debt. It’s such a pain. Interest rates, stress levels, financial restrictions; it is all such a pain. That’s why you need to focus on getting out of debt. It could be consolidating your debts into one place. It could be that you need to know what the best credit card offers are. Maybe you have a student loan that needs quashing. If you can pay off more than the minimum amount each month then do because you’ll be saving yourself money and stress.
Think about your future-self. Help them out a bit. Take the stress away from them. Let them enjoy their life that little bit more. Put some money in a pension pot now, literally right now. Or go and talk to your HR department about your employer’s pension contribution plan and get everything you can out of them. Your sixty-year-old-sick-of-working-self will thank you so much.
Locked Down Savings
There is no point in having a savings account if you can really easily access the money in it. Let’s say you overspent in your current account so you just transfer money from your savings to make up for that fact, what’s the point? Have a savings account that is locked down. One where you need both you and your mother to twist a key simultaneously and then recite the alphabet backward or something, anything that makes accessing your savings harder.
No More Full Price
There is an RRP and then there is the internet, which will save you a sizeable chunk on the RRP. That’s one of the best things about the internet. You can always find what you want or need at a cheaper price, so why wouldn’t you? You have Amazon, Moneysupermarket, voucher codes, Groupon, taste card; so many options to avoid full-price anything. It could be your insurance that you want to save money on, or it could be your next takeaway meal, it doesn’t matter so long as you do.
Stalk Your Accounts
You have absolutely no problem stalking your crush on Instagram, so why should you have a problem stalking your own bank account? The answer is, you shouldn’t have a problem. Mobile banking allows us to do this. See what is going in and what is coming out and make a note of all of it.
Then get an app like Money Dashboard that can help you better budget using this information. The more you know about your account the better your decision making can be. If you know you can’t afford to go on a night out then you can tell yourself you can’t, which is something you can’t do when you live in denial.
It may seem impossible but living a debt free life is always within grasp with these budgeting tips!