The weeks before payday can feel long indeed, especially if you haven’t planned ahead to make your salary last. So how can you get better at making it through each month without ending up in the red? Our tips will help.
Get a Budget in Place
A budget is an essential tool to help you to manage your money. Assess your income and measure it against your outgoings. The ideal scenario is for you to end up with a surplus. If you are spending more than you earn, however, you either need to earn more or spend less.
Look at Ways to Earn More
If you simply don’t earn enough, then ask for a pay rise or consider taking on a side gig. There are so many things you can do on the side, from dog-walking through to selling crafts online. Who knows, your side gig could eventually grow lucrative enough to become your full-time job! See some inspiration at Etsy.
Cut Your Bills
Go through your monthly bills with a fine-tooth comb and look for ways to reduce them. Can you get a better deal on your utilities? Can you negotiate a better phone contract? Are you paying too much for your insurance? There are lots of websites that can help you with comparisons. Try Compare the Market as a starting point.
The easiest way to reduce your spending is to become careful about what you buy. Stop spending and shopping as a hobby. Find other things to do with your time and take up an interest or a sport. Why not work on building a side-business instead so that you are making money instead of spending it? Track every outgoing so that you become accountable to it. You’ll find plenty of notebooks online at >> https://gb.moleskine.com/en/
Find Alternative Ways to Socialise
If you are used to meeting friends for drinks and dinner, find other things to do instead. Go to the park or do an exercise class at the leisure centre together. Meet for a coffee or cook at each other’s houses and do a pot-luck where everyone contributes a dish. Tell your friends what you are doing so that they can support you in your goals. You could even make a pact together to get in control of your finances. When you do want to do something fun and different, look out for deals on websites such as Groupon.