Christmas is over for another year, time to clear up the wrapping paper, finish the last of the turkey leftovers and pack away those socks you’re sure your brother re-gifted to you from last year! One problem, January is a looooong month and you’ve got to make your money go further because you can’t turn down every party invite to stay in watching Netflix.
But don’t panic, if one of your new year’s resolutions is to become more money savvy and to start saving on the side then these five tips are for you:
Budget Planner App
This one might be an oldie but it’s still a goodie, working out a budget is the best way to keep track of all of your incomings and outgoings. See where your money is going each month and actively decide which spending you may be able to cut down or avoid at all, for example that second Starbucks Latte today. And the best thing about it is; No bad surprises at the end of the month.
The most popular apps to check out: Fudget: budget planner, Money Monitor and Goodbudget Budget Planner.
Getting money back when you spend? Count us in!
If you didn’t know about this, allow us to let you into a secret: You can get cashback on almost anything now! This means you can literally get money back when you are purchasing items you would be buying online anyway, just by simply making an extra click through one of the many cashback websites.
Get rid of your debts
Saving money is good, but being debt-free is even better. Credit cards can be a blessing and a curse at the same time. Unfortunately, if they are used without proper thought and planning you can end up racking up the interest and this can result in high repayments, and you do not want that. This can be a vicious cycle that is hard to get out of and might follow you for a while, and who likes a stalker.
Make sure you clear as many of your debts as you can, before you start saving. This may just be money that you owe to friends and family. They might not charge you interest, however, it can still cause unnecessary stress. The easiest way is to pay them back is using Paym. Quick, easy and debt-free.
Debt free? Now you can start putting some money aside each month with much more ease.
In an ideal world, it is recommended to save one-third of your income (yeah, right!); we know that isn’t always possible, but every little bit counts. Check the bank accounts that will reward your money the most and start saving. Use it as a savings account only.
Yes, that’s a thing! Before buying anything, you should ask yourself these questions:
|Do I need it?||If you already have a similar pair of ASOS boots, the answer is most probably no. And if the answer is ‘no’, you know what to do (or not to do).|
|Can I afford it?||If that is also a ‘no, don’t even dare thinking about purchasing|
|Can I get it cheaper anywhere else?||If you have answered both of the questions above with a ‘yes’, check online if you can find a more reasonable price. (and don’t forget cashback!)|