With the financial climate in the state, it is in at the moment, most of us are having to look for ways in which we can cut down on what we are spending and save those vital pounds.
However, most of these methods and trustworthy money saving tips can be more of a drag than the dread of having to check your bank balance – forcing you to cut out the luxuries, stop going out and basically ration your finances throughout the month.
While it can’t be denied that these methods do in fact work and should be tried by anyone in need of saving more than just a few pounds, it can definitely be said that they aren’t the most enticing ideas and can take a lot of willpower and commitment to stick to – with a simple stroll through the high-street having to be completely forbidden as it will mean passing things you would love to buy, but just can’t allow yourself to do so if you are going to keep your head above water.
Like dieting by eating chocolate fudge cake, these following money-saving methods shouldn’t be disheartening, but instead could make saving those pennies a little more enjoyable – so read on, you could even discover a new hobby!
Sell old ‘Stuff’ for New Experiences
Haven’t had a holiday in recent memory and really feel like you need a break? The only solution isn’t cutting out your weekly trip to the cinema or by stopping buying the food you love, as your home could be filled with ways to make a sizeable amount of money – and much faster too.
We’re all guilty of hoarding items by even the smallest amount, and we can have shelves or cupboards filled with unused clothes, books, ornaments or a whole host of other valuables-of-the-past, so rather than sitting at home on a weekend scared to spend any money in the hope of ‘saving’ – why not have a big clear out and upload what you don’t want onto eBay or list it in the local paper? You’ll be surprised at how much money you can gain from items just sat there in your home.
Crafting Financial Success
Between your friends, family, and people at the workplace, it can seem like there is a birthday every few weeks and this means buying cards and presents that at times can be unnecessarily expensive and can often not really make much of an impact.
Once again, instead of spending your free time worrying about saving and suffering from boredom, invest in an inexpensive crafting kit and let your creativity flow with personalized cards that really speak to the person receiving it, or even go a step further and make presents that will stand out from the average and more expensive choices – homemade bread or cookies for instance – just run with it and see what you can come up with.
Save when you Shop
Finally, how many times do you hear “do you have a loyalty card?” or something similar, answer with a “no” and then after being asked “would you like one?” reply with another uninterested “no”. We can all do this because we may be suspicious of there being a ‘catch’, however, most shops now have loyalty cards or customer reward programs that don’t cost a thing, but can pay you back with savings, vouchers and various coupons.
The best idea is to set up an e-mail account solely for signing up to these (do it even at the shops you don’t regularly use) and then keep a keen eye on them for any offers that are of interest to you.
Every supermarket will have some sort of free rewards scheme and those such as Tesco’s Clubcard Points, can be built up and traded for hotel stays, air miles, meals out and even trips to theme parks – and there’s nothing boring about that!
A smart mixture of the above methods and some of those which might not be so appealing can quickly turn the idea of saving money from a dreary drag to something you can really sink your teeth into!
Please remember to read all risk statements and consider if the Representative APR is appropriate for your needs before entering into any loan arrangement or you can obtain the OFT booklet “Think before you borrow”.
More Amazing Ways To Save Money
There might come a time when you want something really expensive and you don’t have the money to buy it. What would you do in that situation? I’m guessing you would try and get credit like most other people in the country because you always want what you can’t have.
That is just a habitus humans have picked up over the years. The only trouble with credit is the interest. Go and get a quote then prepare to be sick when you realize how much money you’re paying for absolutely nothing.
If you want to be a smart cookie you should save up for it yourself. There is something very, very satisfying about handing over a large amount of money for something that you have saved up over the course of a year or two.
It feels even better when you realize you don’t owe anyone anything and you are completely free from debt. All of this advice is pointless without actually showing you how easy it is to save the money in the first place, so let’s look at that right now.
Something big = big sacrifices
If you are saving for something really big it could take you a lot more than a few dollars to pay for it. This might be saving enough money for a house deposit which is hard work. You could sacrifice your freedom and move back home with your parents.
This could be tricky if you are married and are renting a flat, but sometimes you just have to go through a tough time before something beautiful happens. If you don’t do something drastic you could be renting forever.
Learn to love free
Sometimes we can go out for the day and enjoy ourselves somewhere that is free. Then you have the places we visit that can sometimes cost hundreds of dollars for the whole family. The fun you have in both places is usually the same and the price doesn’t have anything to do with the enjoyment factor.
Before you start planning big trips or holidays you should take a look at things that don’t cost anything. You might be surprised by what you find and you can pocket the spare change.
Resist the temptation
When was the last time you felt like buying something so you did? You might think you are happy with your new purchase, but you can’t deny the real reason you are happy is that you satisfied your craving to spend money.
It’s actually pretty crazy when you think about it and it’s something we should all be able to stop ourselves from doing. You need to walk away whenever you want to spend any money just for the sake of spending money.
Spend more time at home
When you go out all the time you spend money, but stay and home and you have everything available to you at no cost. Restaurants are expensive, so go and buy your ingredients from a supermarket. The cinema is extortionate, so watch a movie at home.
Of course, you don’t need to stop going to a restaurant or the cinema, but don’t do it as much as you do now and maybe keep it for a treat. It’s just common sense when you think about it unless you’re rolling in cash.
Shut up shop
When you really want to save money you might want to buy absolutely nothing for a whole week. Just eat what is in the fridge, don’t go out, and spend your free time doing things that are free.
If you do this once per month it means you’re saving almost 25% of the money you used to spend and that will add up over a year. One week in a whole month is nothing and it should be easy for anyone to take a week off from spending like crazy.
Five Tips For Reducing Your Cost Of Living
There are many reasons for wanting to reduce your cost of living such as; planning for your retirement, saving up for a new home, going to college, or buying a new car. Whatever your reason for wanting to lower your expenses there are ways to achieve your goal without going too far out of your way to do it. A few simple steps are as follows.
Understand what you spend your money on
One of the first things you can do to reduce your cost of living is to understand where you are spending your money. Start by making a list of everything that you buy in a month then follow up by analyzing the value of those costs and purchases. This will give you an idea of how much of your money is required for bills and what items you could probably save money on.
Cutting out the purchases that you make out of habit or desire instead of need can easily save you money each month. Look over your list and go through the items that you don’t need and cut them out of your spending.
These expenses could be anything from buying a meal from a fast food restaurant instead of cooking food at home to paying for a car wash that you could easily have done on your own. Eliminating waste is one of the fastest ways to reduce your cost of living.
Learn to do Things for Yourself
There are so many services that we spend money on that we could be doing for ourselves. Learning how to do your own repairs on your home or even your automobile can save you hefty bills from the professionals.
You don’t have to be an expert on most thing but a little bit of studying can get you proficient skills enough to eliminate many of the services that you would normally be paying extra for.
There are always some things that you can’t do for yourself but you can be prepared for them by knowing who to call if you need to for example if you ended up in jail you could contact http://www.bailbondsdirect.com to get you out.
Look at Your Utilities
Old appliances tend to be a major drain on your electricity bill as well as poor insulation. If you feel that your electricity bill is too high then it would be a wise idea to examine your major appliances for wear and damage.
In many cases buying a new appliance will save you a vast amount of money in the long run. In the winter if you see the snow melting off of your roof when it doesn’t seem to be melting elsewhere that is a sign that you have poor insulation.
If you are good at doing home repairs yourself then this is one you should take care of because the cost of insulation is much cheaper than hiring someone to do it for you.
Buy Things Used
Everyone wants the newest and best things when it comes to electronics or fashion. Buying things second hand is a great way to get good deals on lightly used products as many people will sell their slightly old stuff at a discount when a newer version comes out.
If you follow these simple steps you can drastically cut your cost of living and keep more money in your pocket. Make a goal of how much you want to save every month and stick to it. Making good decisions and staying out of trouble will also help.
Tips For Making The Right Financial Choices In Life
From buying a home to buying the groceries, every purchase you make in your life has the power to improve your financial situation or increase your debt. However, there are little-known secrets that you can commit to memory that will make these decisions about money a lot easier to navigate. Read ahead to find out what they are.
One of the biggest financial decisions you’ll make is when — and how — to buy a home. Becoming a homeowner is a rite of passage for many yet knowing where to start isn’t so common. If you want to find the best mortgage rates, a little financial preparation can go a long way.
Before looking for a mortgage, you should take a look at your credit score. This will not only tell you where you stand as a hopeful home loan recipient, but it will also let you know if there are any discrepancies in your credit history that you should dispute. Getting pre-approved for a mortgage can also take the guesswork out of searching for a new home.
And one of the least-known secrets of home buying is that the home loan deal that you eventually sign depends largely on your power of persuasion.
It may look like the details are set in stone when the lender presents you with a contract, but you can often mold them to fit your financial goals. For example, you may be able to persuade the lender to reduce some fees associated with the closing process, or you could negotiate a deal with the seller in which you accept a few thousand dollars towards your interest rate points instead of asking them to lower their price.
Once you get into the home, however, your money-saving efforts will be even more important as you work to stay ahead of your mortgage payments and save for home improvements.
One way that you can make sure you have more than enough in your budget to maintain a comfortable home is to save on your other expenses. You can cut down on your grocery bill by taking on coupon clipping as a hobby, and you could call your energy company to see if you can get a better price for your electricity and natural gas service.
Bundling is also an effective budgeting tool because many companies are willing to customers a discount if they rely on them for more than one product or service.
And while you’re trying to balance your budget, remember to use your credit cards wisely. Try to keep your credit card debt within 30 percent of your total credit limit so that you don’t harm your credit score.
Also, using cash to make day-to-day purchases can help you keep your card balance in check as well as give you a realistic idea of how much money you are spending long before the monthly statement comes in.
Overall, making the right money decisions comes down to a little planning and a lot of practice. If you can break down your long-term financial goals into short-term practices, you’ll be on the right track in no time.
Save Money Today and You’ll Never Worry About Tomorrow
Save now and you’ll never worry about tomorrow, seems to be too good to be true. It is an unnatural activity for one to save rather than spend. Most often we want immediate gratification, which can be exchanged for the money that we have now.
Some of us may want to have a car, a house, a new mobile phone and the like, which ends up having us spending instead of saving. It is easier to spend money with all of the temptations everywhere. Yet, one must know that the benefits of saving money today are priceless.
The secret to saving money is crucial today, especially when prices are going up instead of going down. Here, we will give you tips on how to save money today so you do not have to worry about it tomorrow. The following strategies are worth a try:
Free yourself from debt
Before you go saving for your future, you need to settle your own debts first and foremost. The mere elimination of debt is the quickest way to save money.
Set a goal
Experts say that before you do something, you need to set a goal. It is efficient if you write down your goal, which in this case is your financial goal.
Have a time frame
Another tip is to have a time frame wherein you set a specified date in accomplishing your goals, particularly your short-term goals. However, you must make sure that this kind of timeframe is attainable with the specified date you have decided, otherwise you will only get frustrated if it is not achieved.
Calculate your expenditures and savings
Simple multiplication, division, subtraction, and addition are needed when you calculate your expenditures and savings. When you calculate, you get to have an overview of your own expenses and savings.
Record your expenses
When you record your expenses, you get to be in control of your expenses. This is a simple activity that you must do to know where your money goes.
Cut down expenses
Another good way to save money is to cut down expenses, most probably those that are really not important expenses. When you do this, you will be amazed at how much you are going to save.
Make a budget
This kind of tip will guide you to your saving goal. You will learn how to balance your saving and balancing goals as well as spending expenses.
Open your savings account
One effective trick is to open a savings account that is interest bearing. In such a case, you will save more than you thought you could have.
One thing that you need to do when you save is never to forget to pay yourself. Savings should be part of your priorities. An effective start is to save ten percent of your income.
Never give up or get discouraged
Life is never perfect; you should not be disheartened for whatever you are going through. Instead, you need to get going. Never give up or get discouraged. Good things will take time.
Financial Disaster Preparedness
There is a lot of information out there about getting ready for natural disasters like hurricanes and tornadoes, but what about personal disasters?
If you wake up and suddenly find that you don’t have the money to pay all of your bills, that’s going to hit you hard. The truth of the matter is that financial crises hit everyone. What makes a huge difference is how well you prepare for one and what you can do to lessen the impact.
Spend Less Than You Make
This is the first and most important rule of being prepared for a financial disaster. Spending less than you make is one of the most important rules that you can follow, but this is not to say that it is easy! Bills pile up, especially if there are medical problems at play, and you will find that it is very easy to end up living paycheck to paycheck.
Make sure that you have a good foundation. Create a budget and stick with it. This is something that can help you get through a financial crisis relatively intact.
Put Some Money Away
If you have money, you want to use it. Everyone is like this. However, if you can put the money away and ignore it, you’ll be set in case of a rainy day. One way to do this is to open up a bank account at your local bank. Every paycheck, put some cash into it.
It doesn’t have to be a lot; it can be whatever you can spare. The important thing is that you do it every time you put money in the bank. This is exceedingly old-fashioned behavior, but as plenty of people can tell you, it is behavior that works!
Remember that this is your emergency fund. Do not dip into it simply to have a good time. Many people find that it helps if they determine what is an emergency ahead of time. This helps you make a decision when the time comes.
Skip the Impulse Spending
Have you ever been out and caught a glimpse of something that you simply had to have? We’ve all been there. Humans are naturally acquisitive, but if you want to create a rainy day fund, you’ll have to turn a very introspective eye on your spending.
Why are you spending the money? Is the item you are looking at worth the money you want to spend, and how much enjoyment are you going to get out of it? While it is important to have some fun, make sure that the fun is worth the cash.
On that note, it is also important not to deny yourself. While you can simply abolish all fun from your life and stick to the bare essentials, that is not a healthy way for you to live. Distressingly enough, it seems that it also leads to bad behavior down the line. If you constantly deny yourself a fun, it is altogether too likely that you are going to have a bad day and simply splurge, destroying your nest egg as you do so!
Financial crises are not easy. They upset our routines, and they make us feel lost and afraid. However, it is important to make sure that you are prepared. While a financial crisis is unpleasant, you will find that you can beat it if you are ready!
Five Tips For Avoiding Disaster When Dealing With Debt
Dealing with debt can be frustrating and stressful. Some types of debt will continue to grow every month even if minimum payments are made. This can slowly lead to a disaster that affects credit and makes financial stability difficult to achieve. Fortunately, there are five tips that will help anyone to avoid a disaster when dealing with debt.
1. Avoid Using Credit Cards
A mistake that can lead to disaster is relying on credit cards to handle debt or daily expenses. Relying on credit cards will eventually result in revolving debt as balances and fees rise. Credit cards are an unsustainable option. It is better to look for other solutions, to reduce unnecessary spending or to generate more income than to rely on credit cards.
2. Never Ignore Creditors
Ignoring bills, letters and calls from creditors could result in a disaster later. Families should always remain informed about the debts owed. Some creditors might even send letters offering repayment options that could make it possible to pay down the debt. Ignoring creditors can result in calls from aggressive debt collectors or even legal action.
3. Avoid Late Fees with Secured Loans
Late fees and penalties can significantly increase the amount of money owed to a creditor. Some fees can double the debt in just a few months. It is important to take steps to avoid late fees. Secured loans are a good option. Companies like eTitleLoan provide loans secured by a car or truck.
It is even possible to apply for a loan online at eTitleLoan.com. Secured title loans do not require a credit check. They are an effective way to stop late fees and start moving back towards financial stability.
4. Follow a Realistic Budget
Households in debt need to follow a realistic budget. The budget should show exactly how much money is needed to pay debts each month. The budget will show how much can be spent on food, entertainment, and other expenses without sacrificing debt payments. Budgets are essential when dealing with debt.
5. Pay More than the Minimum
Avoiding a disaster involves paying more than the minimum on debts whenever possible. Paying the minimum amount on credit cards means balances could take years or decades to repay. High interest cards could even accumulate more debt over time. Paying more than the minimum will reduce the debt quickly.
Dealing with debt can take some time especially if large balances have accrued. Families will need to stick with a budget and a plan of action for as long as necessary to repay the debt. Households having trouble with large amounts of debt might want to visit a financial professional for help.