Our Secret To Money Saving
Money saving can be a challenge with the consent temptation of taking away and shopping sprees. Although a number of us are still learning how to save money month on month there are still a large number of people that find themselves reaching for payday loans in a financial emergency. Here are our money-saving secrets to help you make the most out of your money in 2019.
The 30 Day Rule
When looking to buy something, especially an expensive item, the best thing that you can do is give yourself 30 days. If you can live without the product and do not see a need for it at this time, then it is not worth your investment and the money can be used elsewhere. However, if you find yourself in need of the item after 30 days then it is something that you need and would not be considered a waste of money in the long term. This not only gives you time to save if needs be, but it also eliminates the “ treat yourself” mentality. This can be dangerous as this can find you spending money on items that you do not need and find yourself running low on funds towards the end of the month.
Another money saving tip that is vital is budgeting. By setting yourself a budget with every paycheck, you can ensure that you are spending as much as you can afford. At the beginning of every month, sit down and work out how much of your money paycheck is going to be on bills and other direct debits. Once this has been accounted for you can then begin to work out how much money you have for other essentials such as the weekly shop and fuel for your car.
Another way that you can stick to your budget is by using cash when out shopping. By leaving your card at home you then remove the temptation to overspend as those funds will not be available to you. Although this may seem drastic at first, this is the perfect way to reduce the amount that you are spending in the long term.
By creating a shopping list you can ensure that you stick to exactly what you need when you need it. Whether this is a day out shopping for brand new clothes or a list for your weekly food shop this will help you stay focused on the items that you need. A shopping list could also be beneficial to you if you are buying in bulk with items such as freezer food and washing powders as this will allow you to budget accordingly. Although it may seem tempting to deviate from this list it is important that you stick as closely to this as possible to prevent spending too much money.
With a number of coupons in all your favourite newspapers and magazines, you can save yourself money in the long term. If you collect a large number of these they can be used within your weekly shop. By using coupons you can also treat yourself to a number of amazing deals on days out as well as takeaways allowing you to enjoy the more expensive items at a fraction of the cost.
However, you decide to save money in 2019 there are a number of changes that can be made to make sure you have enough to make ends meet and reduce the stress on a month to month basis. Which will you start with?