If you have been conscious of spending money this January and want to be a little bit better with saving and budgeting for the rest of the year, then consider looking how are you spend your money. There are small changes that you can make in your everyday lifestyle that can really help you handle your money better this month. From tracking your spending to the two-week returns rule, these tips are a great way for you to get on top of your finances in 2019.
1. Buy less, buy better
This philosophy is all about making considered purchases. Instead of buying lots of items that are relatively inexpensive, buy a product of service that will last for longer and that you actually need and will use.
2. Track your spending
Dread checking your bank balance? This is one reason why you should definitely keep track of how much you are spending. Whether it be a banking app or a personal diary, keep note and pay attention to what money is coming in and out of your account. Direct debits, disposable income spending, savings all should be monitored to see where you are spending too much or see where you might be able to save a little bit more money this week.
Upcycling is one of the most useful and creative things you can do to save money. If you have an old piece of furniture that might be slightly run down, broken or broken, look at how you can turn it into something else that can used around your house or garden. Empty jam jars can be used as light shades, wooden palettes can be painted and used as planter boxes out in a back garden,
4. Co-manage your money
Don’t take the burden of the financial pressure that your family might be under and instead co-manage the money with your partner. Share out the responsibilities and make a plan and budget that you both can follow. It is also a good idea to divide up who looks after which bills and expenses, so then you can both track your spending.
5. Say no
We are all about living our lives to the fullest but sometimes it is important for us to remember that we don’t have to go to everything. Sometimes we put a lot of pressure on ourselves to do so much and that strain can be seen in our finances. If you feel like you can’t afford to go to something then don’t. It sounds like a simple solution but it is a difficult task because it is something only you can do yourself. You might miss out on going to one thing this month but the next day you will feel better and be less worried about what money you will have for the week.
6. Sleep on it
Walking away from a stunning dress or bag can be difficult but the trick we like to do is to go home and if we still want it the next day or the week later, then maybe considering purchasing it. If the item or services has slipped your mind or you don’t remember it again then you know that it was worth not buying.
7. Two-week rule
When buying something, it is good to set yourself a timeline of how long you have to wear or use the item before you have to bring it back. Most receipts give you a 30-day refund but a good tip is to set yourself a two-week time limit. If you find that you haven’t reached for the item or that you can’t find anything to wear it with then bring it back. Two weeks is plenty of time because usually if we really like something we would put it on us straight away!
8. Shop around
It is mostly out of convenience that we tend to shop at the one shop. The idea of traveling to multiple destinations to pick up different items sounds crazy but if you are really serious about saving some cash this year, then it might be something to consider. It is handy to know what days each supermarket or retailer has their reductions and deals on because this way you can make lists from what you need at each store depending on what items are on offer. Be money savvy is all about being prepared so make it your business to sign up to store emails or follow their Twitter pages so you will be able to see where has the best value this week.
Image source: Photo by rawpixel on Unsplash
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