It seems to always be the case that money is tight, and whether its because we’ve just blown the budget on a big holiday or we’re struggling to make our pay check last until the end of the month, cash flow is often a problem, and saving money is easier said than done. Whilst setting large amounts of cash aside is near impossible for many of us, there are a few things we can do to save small sums around the edges, which will eventually add up to something worthwhile.
Only buy the essentials
Naturally, rule number one is to not buy things you can’t afford. For some of us, we may need to work on our definition of ‘essentials’; whilst it may be obvious that the 15th pair of shoes are not a matter of life or death, we often overlook the fact that the expensive face cream or that new app we’ve just downloaded aren’t actually necessary either. Cutting back on these small items could leave you with a little extra cash either to add to your savings account, or to be more intentional about treating yourself if there’s money leftover; we promise it will be more rewarding knowing that you’ve saved this and can justify treating yourself!
Compromise on Luxury
The truth is that for most of the products we buy, there is a cheaper alternative available. This doesn’t mean everything has to be cheap and nasty, in fact often you won’t notice a difference in the quality of the products, for example between branded food items and supermarket own brand items. On that note, you can generally do things for less money if you’re willing to put in a little more effort, and meals are a prime example of this. Obviously eating out is a lovely thing to do, but is unsustainable in terms of budget if you do it too often. Buying ready-made food from the supermarket is a much more budget-friendly alternative, but you may not realise how much you can save by simply buying the raw ingredients and cooking from scratch. To take it a step further, cut down on some of the more expensive food items such as certain types of fish and red meat. You might be surprised by how delicious (and cheap!) some veggie dishes can be!
Earn a little extra
Whilst cutting back costs is a sensible thing to do, life’s not much fun if you can’t treat yourself every once in a while. Working overtime is a no-go for most of us, but there are ways to make a little extra cash whenever and wherever you have a few spare minutes, whether that’s during your lunch break, on the train or whilst dinner is cooking at home. We recommend carrying out paid surveys such as those offered by Crowdology. Taking a few minutes here and there to share your opinions could earn you just enough to justify going out for a drink one weekend, or buy a nice coffee if you’re heading into a particularly challenging day of work.
Cutting back with your budgeting often feels more overwhelming than it needs to be, making several small cuts all round can be hugely beneficial without being too painful, so take small steps, and be sure to persevere, it will pay off eventually!