With it being the start of the New Year most people have the money blues due to having spent most their money during the December holiday period. And now more than ever in 2017 learning how to stretch your money as humanly possible can go a long way. Here are 7 simple ways to save your money and yourself from borrowing during January when your financial ends don’t meet.
- Draw up a budget
In order to save you have to know what you’re saving for and where you can save therefore drawing up a budget can help you. This process will assist you to better understand your costs and expenses and that you’re not throwing money away.
- Review your monthly statements and subscriptions
This can make a big difference to your bottom line as some of your regular expenses aren’t set in stone. Expenses, such as getting a cheaper data plan for your smartphone as a way of money-saving opportunity.
- Track every single expense
And once you do this you’ll start to double-think all those purchases you’re about to make. In the end helping you understand your impulsive shopping habits. And you’ll have saved a lot more than you would’ve without tracking.
- Challenge yourself to a spending diet
Pay only for things that are necessities, rent, rates, and in turn helping you see which expenses you can cut back on to further save. These include staying away from eating out or shopping, or even going to the movies.
- Look through newspaper inserts or social media for bargains
Before you start shopping follow your favourite retailer on Twitter or Facebook for any information on shop sales.
- Use coupons
Take advantage of rebates or your cash back rewards. Start a garden, cook more meals from scratch, and reduce the amount of meat you use in your meals or wash your own car.
- Make your payments on time
This cuts out any unnecessary added extra costs from late payment fees as in order to save every cent counts.
If this doesn’t work and you your only option is to borrow, READ THIS for some tips.
