Simple Ways To Save Money- No Overtime Needed!
When money is tight, your first thought might be ‘how can I earn more’? Doing overtime is usually a good option, or you might choose to do some work from home in your spare time, whether it’s blogging, freelancing or selling things you no longer need on ebay. While generating extra income is great, the first thing you should actually be doing is re-evaluating the money you do have. Chances are there are places you’re hemorrhaging money from your budget, and there are a few changes that can make things a lot more comfortable for yourself. Here are a few ideas.
Re-Work Your Budget
A budget is essential for everyone, whether you earn a little money or a lot. To stay in control of your money, you need to make sure that you know exactly what comes in and what goes out. You need to know how much you’re spending in what area. Small things like digital subscription (Netflix, Spotify. Amazon Prime), magazines, takeaways, haircuts and more might not appear to cost much at the time but can all add up. If you take a look at exactly what you’re spending each month, you can work out where you can make cutbacks. It doesn’t need to be forever, but just until you’re back on your feet. You might find that there are certain luxuries you can live without after a while, and would rather have the money to spend elsewhere.
Switch Your Utilities
Once you know how much you’re spending in each area, you can begin to work on getting the very best prices. Take your utilities for example, often a quick switch to another company can save you significantly over the course of the year. If you check out cashback sites like Quicdo you can sometimes even get a decent amount of cashback for changing over. You don’t need to be loyal to your utility companies, if there’s a better deal being offered elsewhere then grab it with both hands.
Don’t Overlook Loose Change
Loose change seems to get everywhere. In the car, down the sofa- look in any drawer or old bag you’ve not used in a while and chances are you’ll find a load of coins. Instead of these laying around or getting lost, make a point of putting them into a big jar. Ask everyone in the family to chuck in their loose change, and you’ll be surprised at just how much you have when you cash it in.
Think of Longer Term Saving Options
Saving cash to use in the short term of get you out of a tight financial spot is always going to be useful. However it’s worth having some longer term saving plans too. Check out fixed deposit interest rates with different companies and you could put down some money that will generate some interest over the years. Otherwise you could transfer a portion of your wages into a savings account and keep this for a savings goal or just as a buffer if something were to go wrong.
If you saving the money you have properly and spend it wisely, you don’t necessarily need to work a load of overtime or take on another job. You get free time to enjoy life but on the money you currently earn.