Author: admin

Ways to make Sure you Spend Less

There are many of us that would like to spend less money. It might be that we struggle to make ends meet each month, we have debts that we would like to repay, we want to be able to put some money in a savings account or we just feel that we are generally spending too much money. Spending less money though can sometimes seem almost impossible, we might feel that we are already spending the minimum that we can and so cannot cut down any more, but there may be some ways that you have not thought of.

Check how much you spend and on what

It can be good to start by looking at your bank statements so that you can see how much you are spending on things at the moment. By doing this you could find that you will notice more about your spending patterns and be aware of how much you spend on certain things. It can be really enlightening knowing how much of your income goes on certain things and this should help you to see where you might be able to cut back on your spending. You may feel that certain areas are just not worth spending on or that you would like to spend less.

Compare all prices

Whenever you buy anything it is wise to compare the prices of what you are buying. This is everything from food to fuel, electricity to insurance. By doing this you will be able to check that you are not paying more than necessary. Of course, some things are worth paying more money for, but this is not always the case. For example with electricity, you may be able to pay less for it but still receive the electricity that you need. So you could switch providers and save money with very little effort. This could apply to many things and could be a way that you can reduce your spending quite significantly. Even just looking at the prices of things can help you to make spending decisions. You may see that certain things you buy are very expensive and you could buy alternatives that are cheaper and may not notice a big difference.

Always take a list when shopping

When you go shopping it is a good idea to make a list before you go and then stick to it. It is too easy otherwise to buy lots of things that you do not need and then not buy things that you do need. You could end up wasting food because you have too much of it and it goes off or not having things that you do need and having to shop elsewhere where it is more expensive to pick it up. A list can also help to stop you being tempted by offers that you do not need. When something is reduced in price it can be tempting to think that you have to buy it because it is such a bargain. However, unles sit was something that you would normally have bought or you are getting it instead of something else, you are actually buying extra items and this will cost you more money.

Try to reduce impulse buys

It can be so easy to buy things when you see them rather than waiting until you need them. Buying things like this can be a problem as you may regret that purchase later. It can be better to spend some time thinking about whether you really need the item before you buy it and then you will have a chance to change your mind. If it is just a small cheap thing like a chocolate bar, it may not seem so important as an expensive item like a new pair of jeans. However, if you take some time to think about the chocolate bar purchase you will avoid buying it for a while and it might be healthier for you if you decide not to get it after all.

Avoid shops and online stores

If you avoid going into shops or looking at online stores then it should help you to avoid spending or needing to borrow money to make your purchase. You will be able to stop yourself from looking at what is available and then you will not be tempted to buy things. Therefore try to do all of your shopping in one go rather than making multiple visits spending smaller amounts and this should help you. This is about removing temptation and you will not be able to be tempted to buy things if you cannot see that there are things available for sale. If you think you cannot avoid this totally then try your best to avoid the most expensive places that you shop in. So think about whether you can walk an alternative way to avoid going past the shop or block their emails and any marketing mail that you get so that you are not tempted to visit their online shop.

Top Tips on Increasing your Savings

Many of us would like to have more savings than we have. This is because it is great to have money to fall back on in an emergency, money to pay for treats and to be able to avoid borrowing if we can. This means that we will need to have a pot of money behind us. Some of us find it really tricky though to save money and so it is worth trying to think of some ways that you can save more.

Higher interest account

If you put your savings into a higher interest account then they will start to make more money for you. Although this is unlikely to make a significant difference, especially while interest rates are low, it will still make some difference and this is important. If you can get higher interest then why not try as it will enable you to increase your savings. As you add to your savings it will make more of a difference as well so it is worth seeing if you can get a higher rate.

Direct debit to savings account

Many people wait until the end of each month to save money. They will wait until the day before they get paid for just after they get paid and see whether there is any money left to save. Although there is nothing wrong with saving spare money like this, it is less likely that there will be any left to save compared to saving at the beginning of the month. If you set up a direct debit to save a certain amount each month then you will have to budget for the rest of the month in order to make sure that you only spend the money that you have left. If you still have some left at the end of the month then you can still transfer it as well, but if you have a direct debit set up just after pay day, you are more likely to save more money. Give it a try and see whether it works for you.

Stay Motivated

it is important to make sure that you remember why you are trying to save money. Take a note of the reason why and stick it somewhere prominent. Then when you feel a bit annoyed at having to save so much money you will be able to remind yourself as to why it is so important that you do it. Note down how much you want to save and why you are saving it and this should be enough to keep you going. If you still find it difficult then look at the note more often and keep imagining what it will be like when you have the savings that you want. Imagine how good it will feel to achieve those savings and this should help you to stay motivated.

Cut down luxury spending

Many of us buy things that we do not need. It can be tempting to buy things that we like, things we see advertised, nice things for other people and treats for ourselves and if we work hard we may feel that we deserve some nice things. We may even buy things which are luxuries that we consider to be necessary for our happiness such as mobile phones, television channels, holidays and eating out. It is worth thinking about whether everything that we buy really is necessary. This can be hard because we do not want to go without things that we enjoy. However, it is important to remember why we are trying to cut down and the benefits of doing so. It may even be that case that you can easily go without things without really noticing, perhaps subscriptions to magazines or online services that you no longer use, or you can buy cheaper versions of things without really noticing any difference. When you start to look at what you buy and compare prices, it may be easy to start cutting down. Just being aware of how much things are and what you are buying can make a big difference.

Earn more money

If you do not want to spend less, then the only way to put more money in your savings account is to earn more money. You can do this by asking for a pay rise, working more hours or getting a better paid job. This is not possible for everyone and so they may need to find other ways to make money. It may be that they can get an additional job, do some casual work, do some online work or even sell things that they no longer need to raise some money. There are lots of ways to earn some extra money but they may take quite a bit of hard work but they can be worth it if you manage to have more savings as a result of it.