You shouldn’t feel bad if you struggle to keep your finances in order. Many people struggle with this. It can be really difficult to do, especially if you have a family and a house to run too. This guide will give you some simple tips to help you keep a better hold over your finances. When you have your finances in order, you have more savings, more spare cash, and a better life overall. Hopefully this guide does the trick for you!
Stop Buying Things You Don’t Need
Most people buy things they don’t need without giving it a second thought. However, these things could be costing you more than you think in the long run. Every little helps! Before you buy anything, big or small, ask yourself if it’s something you really need. If you don’t need it right then and there, don’t buy it. If you’re still thinking about it a few weeks later, then it might just justify a purchase if you can fit it in your budget. Don’t buy things spontaneously – make sure you put real thought into everything you swap your money for instead. You’ll end up with things you really love and use, and more money. What could be better than that? Make a list of things you actually need when you go shopping and don’t stray from it. Most people struggle when it comes to clothes. They have wardrobes full of clothes and never have anything to wear. Sound like you? Taking the steps to create a capsule wardrobe could help you to create a wardrobe you absolutely love. Everything will tie in together and you’ll spend hardly anything on clothes. You definitely won’t need to go out hunting for new outfits every time you have a special occasion.
Set Up A Weekly Budget
Set up a weekly budget to stick to. Work out what you spend each month when it comes to bills, living costs, and things like that. Only include things that you absolutely must include. Then make sure you can pay them first and foremost. The money you have left over can be split weekly to be spent on luxury items and activities. You could even save some, which would likely benefit you later on down the line! It might help you to sit down with your family and work out what to do with your budget, so you’re all on the same page. Everybody will definitely need to understand that you can’t just spend money on things you don’t need, so call a family meeting!
Pay Off Debts
You can’t expect to get your finances in order if you haven’t paid off your debts. Make sure you’re debt free before you start saving money or doing anything like that. It makes more sense to pay off your debt that have the highest interest rate first, so you’re saving money as you pay them off. However, if you find it easier to do it another way, then by all means do it that way. The important thing is you pay your debts off. You’ll find that once you’ve paid your debts off, you’ll improve your credit score and have more money to play with. This should be on top of your list. Cut up your credit cards, start paying off debts, even sell some stuff you don’t use. Just get it done. If you can’t pay them all when you’re supposed to, call the companies and tell them. You might be able to work something out this way, rather than just avoiding it.
There are so many apps that are perfect for helping you to get your finances in order. Some you pay for, some are completely free. On many of them you can actually pair them with your bank accounts, so you can see what’s going on there in real time. If you want to know what’s going on with your finances at a moment’s notice, downloading these apps will help you.
Cut Your Household Bills
Try to cut your household bills when you can. You can do this by looking for better deals every time it’s time to renew. If you let your bills roll over with the same supplier, chances are you’re spending way more money than you need to be. Be proactive and smart by looking for better deals and asking if your current supplier will match it. If not, it’s time to switch! It’s less hassle than you think and you’ll save lots of money. It all adds up, even if it only seems like a small amount.
Cut Your Living Costs
Is there a way you can cut your living costs? Obviously you need to buy things like food, toilet paper, and even pet food. They aren’t optional! However, is there somewhere you could do your shopping to get them even cheaper? Could you buy cheaper brands? Could you do your shopping at a few different places? Could you buy in bulk? There are probably lots of ways to cut your living costs that you haven’t even considered. The cheapest brands have been compared to the most expensive and many people can’t find a difference. Remember that when you’re shopping!
Get Help From A Financial Advisor
If you’re struggling to work out what you can do differently, consider getting help from a financial advisor. They can look at your accounts and give you some really helpful advice on how to get things back on track. If you’d rather, you could even ask somebody you trust who is good with money to help you. They can keep you accountable too, which is helpful if you think you have a spending problem.
I hope this simple guide to keeping your finances in order helps you to save more money and still enjoy the life you’re accustomed to. There’s no reason you need to enjoy life less on a smaller budget! Do you have tips of your own? Share them with me below!